The daily morning journal and courier., 1902-02-19
Etmnncral.
I'd ------------------- ---------- '------ ----7-~-
 THE STOCK M 4 Rk EFT.
Market Turns Downward Toward tho
 End.

Market Turns Downward Toward tho End.
 ' New York, Feb. 1S.-The restrictive
 influence upon trading of yesterdays
 storm was lifted to-day, yet the volume
 of trading was only about half a million
 shares. There was some show of 1 strength during the morning hours, but it dwindled during the day and the
 market generally turned downwards.
 Some stocks which had the advantage did not suffer materially on the day,
 but the general level of prices at the end was lower than yesterday. The
 disinclination to trade on the stocks of the general railroad systems, especially those of the rans-continental group was very marked. It might have been due to the effort making for revision of trans s-continental freight rates or 1t might be explained by the growing iIl- clination to await next Mondays ses- sion of the supreme court and possi- ble decision in the Northern Securities case before venturing upon speculative Commitments In this group of stocks which have so much at stake in the decision of that case. Speculative opin- ion is in a perpexed state as to the merits of the Metropolitan Street Rail- way plan. The machinery of the plan is so complicated and the bearings of it's operation so obscure that little can be made of it and the general public is in clined to look askance at the securities involved. The interest of the insiders in supporting the price of the stock pending the completion of the plan is obvious, but it ran off to-day more than a point in the late dealings. This had a deterrent influence on speculation elsewhere. The same was true of the weakness of Amalgamated Copper, which lost 2$ on the days dealings The futilty of the efforts to advance Southern Pacific and Sugar were addi- tional influences in the same direction. The development of new points of ac- tivity among the stocks seldom active | or of little general importance conttn- ued to be a feature, but other stocks of 1 the same class recently advanced suf- fered from profit taking. There was buying to some effect among the coal CTS, which was especially conspicuous in Reading 2d pf, and New York, Ontario | and Western. Lackawanna made a |
  Profitable demands upon the coal com panies are said to be more than they | can supply and there are surmises also of proposed further consolidation of the ownership of these roads. Another group which was active and strong was the southwesterns in spit of decreases in gross earnings for the second week in February reported by one or two members of the group. Conjectures are rife of plans looking to financial | in this group also. The in the group gave way with the decline in the rest of the market. Wide gains were made by number of inactive stocks the last pre- vious sales of which were many months old in some cases. The money market easy, but confidence over it's future is not fully assured. Sterling exchange advanced a fraction to-day here and fell a fraction at Paris. The market against profits in gold exports to Paris is very narrow and both these tended towards wipng out the margin. The firness of the London money market is an additional factor. This makes it possible that engage ments of gold for exports on Thursday will be made The growing dullness and heaviness in the market was due in part to this development. The clos ing was irregular, but there were only slight rallies Wabash debenture bus mess constituted the bulk of the bond market, but they lost practically all of their gains. Total sales par value, $5,- 300, ,000.
 United States bonds were all un- on the last call.
 sEW FORK STOCK MARKET upentng, Highest, Lowest Quotations Reported over the private wire of J. L. Me.
 Lean & Co.,, 20 Broad street. New York; l
 New Haven office $40 Chapel street. Hu-
 hnger Building. Norman A. Tanner, ]