The Washington times., 1902-02-12

NEW YORK, Feb. n.-ActiVe trading
in the market today was to some extent
controlled by the approaching suspension
of business over tomorrow's holiday, and
there was a general disposition to reduce
contracts on both sides of the account.
Volume of Business Smaller.
While the market at large followed
pretty closely the same lines along which
yesterdays dealings proceeded, the vol
ume of business was smaller than then,
and price movements were more circum-
scribed. Virtually nothing of Importance
or interest was presented for considera-
ton upon the opening of business, nor did
anything develop with the course of the
day with an important bearing on the
situation.
Money market and foreign exchange
conditions were not substantially altered
and the days returns of railway traffic
made mixed showings, the Southwestern
lines reporting material decreases on ac-
count of the very small grain movement.
LondOn's Influence Favorable.
London's influence in the local market
was favorable, inasmuch IS American
London and were shown in the early ca
bles at material advances above parity
with the local final prices of yesterday.
Most of the buying, however, was re-
ported as having originated from this side.
Fairly active dealings were conducted by
the arbitrage houses on both sides Of the
local market. but or balance these deal
lngs amounted to very little
Although the days total business was
not very large. interest was unusually
well diversified Such evidences of
manipulation IS were apparent in the
market were plainly on the bull side of
the account. Commission house bust
ness again showed a small expansion, but
trading for the most part was still pro-
fessional.
Features of the Railway List.
The strongest features of the railway
list today were the Reading shares. South
ern Railway. and Minneapolis and St
Louis. together with a number of the
specialties. Southern Pacific continued
exceedingly active, but at an early fur
Their advance the stock met with ire
mendous profit realizing sales. under
which il receded nearly l per cent.
There was no definite explanation of
the particular animation in the Reading
stocks, although ii is plainly the pur-
pose of the present directors OF the
manipulation TO bring one group of stock
after another before the public attention.
There were active dealings also in the
Atchison shares. the Fries. Missouri Pa
cific, st. Paul, and Union Pacific. but the
price movements noted were very irreg-
ular.
fractions Under Pressure.
Metropolitan Street Railway was the
feature of the local traction stocks and
reflected renewed pressure. 1t is be-
lieved the details of the company's fnan-
cial plans will be made public by the
opening of business on Thursday morn
ing. Comparatively little was done in
Brooklyn Rapid Transit or Manhattan.
Dealings among the industrials and
miscellaneous stocks were active and re-
suited in some noteworthy advances.
The United States Steel shares were ex-
ceedingly strong and active, and mate
rial advances were scored in Consolidated
Gas, Brooklyn Upion Gas, Peoples Gas,
Tennessee Coal and Iron, and Colorado
Fuel and Iron.
Sugar end Copper Erratic.
The price movements in Amalgamated
Copper and Sugar were erratic in both
cases, but nothing new bearing on either
stock attended the dealings.