Evening star., 1902-02-07
FINANCE AND TRADE
Stocks Held Up in Spite of Realiz-
ing Sales.
THERE WAS BEAR SELLING, TOO
The Bank Statement for Tomor-
row Arouses Some Doubts.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star
NEW YORK, February THE undertone
of today's stock market was decidedly firm
in spite OF the fact that realizing sales
were noticeable in NUMEROUS active issues.
Traders sold stocks to take profits on the
theory that the evening up of contracts at
the end OF the week would force some re-
cession. The gold shipments and their in
huence on tomorrows bank statement were
factors In the selling movement also
The known movement of money during
the week indicates a gain OF 81 7ss s65 to
the banks. reducing the net loss on account
of gold exports to s.. no. lS5 The loan. item
Is expected to show a further increase and
1t is In this connection that the statement is
likely to be the least satisfactory. Lac
banks and the country generally can spare
gold. but the continual increase in the item
of loans must end abruptly some time. and
with unpleasant consequences. unless at
tention be given = careful restriction OF
the privilege.
Bankers are confident that the banks are
conservatively strong and that there has
been no expansion Of credits to anything
approaching q danger point. The leading
banking interests represented In the present
stock market activity predict easy money
and an increased supply for some time 20
come
The best buying today was in the high
priced railway shares of known value.
Illinois Central gained = per cent and
there was a suggestion that there was
some connection between the demand for
this stock and that for Iowa Central is
sues. Big -Four was strong under a spleu-
did demand, selling ex-dividend per cent
and regaining that amount under new buy
ing. All the Vanderbilt issues reflect a
revfving interest and the stocks respond
willingly to the more less Significant IN
side buying.
Atchison issues were In better demand
than at any time of recent date, and a fair
sized short interest covered In the common
stock. The effects OF the bond issue are
wearing OF and the big earnings inspire
new confidence Denver and Rio Grande is
sues were more active than usual and some
rather good buying went into the preferred
stock. Missouri Pacific, Wabash and even
Texas Pacific gave signs of new interest
thus bringing the Gould issues again into
the swing of the market.
Southern Pacific was supported within
fraction of 65 during the entire day, the
pool permitting realizing, but shrewdly
postponing the advance until the desire to
realize had run its course. Union Pacific
was kept around 1O3 without giving an in
dication Of its probable direction from
those figures once an Increased volume OF
business comes In.
The Traction issues were erratic under
liberal dealings. but stock seemed to be
supplied at the high prices. Without arti-
hcial devices there is little likelihood OF the
proposed consolidation plan giving any of
the stocks concerned a materially higher
level
Sugar was run UP to 130 during the MORN
Ing on further assurances from Washing
ton on the subject of Cuban bounties.
The rise was too sharp to suit the plans
of the pool and l per cent was almost i'm
mediately taken off under a good supply of
stock. Copper was irregular, but in the
main heavy under dealings similar in char
acter to those which have given direction
TO the price movement since the beginning
of the year.