The age-herald., 1902-01-16
STOCK MARKET ENJOYED RALLY Turned from Its Recent Con- Sistent Downward Course DEMAND ON LARGE SCALE Evidences Of Support Were Seen In Some Stocks Early In the Day.
 The Closing Was Near
 the Top Level.

New York. January 15.-The stock mar let turned from its recent consistent downward course today and enjoyed something of a rally. The demand was on a fairly large scale but the market show ed a tendency to fall into intense dull. ness and developed a hesitating tone on the advance. There were number of re- actions during the day, but the closing was near the top level, but dullness was wavering still very manifest The demand from the short interest was a palpable influence in the rise. Evidences of sup port were seen early in the day in some of the stocks which were chief targets for bear attack, notably in Union Pacific and other trans-continentals This serv- cd to intimidate the bears although they renewed their selling on advances. The fact was manifest, however, that the more urgent selling had been disposed of on previous days and the efforts of the bears induced little liquidation. A num- Der of incidents aided the bulls in turn ing the market against their opponents.
 There was striking demonstration in sugar on the strength of the hearing ac- corded by the ways and means commit tee at Washington to the advocates of reduction of duties on Cuban sugars. The increase in the dividend rate from 2 to per cent on New York, Chicago & St Louis second preferred relieved some apprehension that there would be no increase although the distribution was not as large as some speculators have claimed to expect. New York Central de- veloped strength early in the day and had risen to the highest point before the an- nouncement of tomorrow's stock issue and the subscription rights to stockhold- CTS. The price was inclined to sag after the announcement as new bond and capi- tai issues have been in disfavor with spectators recently. The price hf the stock has indicated for some time past that rights of some sort were accruing as the directors statement now indi- cates was the fact. The statement of the country's foreign trade for Decem- Der was regarded as favorable.
 The heavy decline in exports of bread stuffs principally of corn probably was expected. The decline in this item &C., counts for practically the whole of the decrease in the total exports for the WHICH was aDOuI 9o,oUU,UUU COm- pared with the previous December. This shows that the declining tendencies in the exports of manufactured products has been arrested, as was first indicated last month. The increase in the imports for the month has resulted in a falling off of trade balance in our favor alto gether of over $20, 900 compared with the previous December but the increase in imports is not regarded as an unfa- vorable factor at present as it is made up, in part of crude articles for use in manufactures and of products for which domestic manufactures are not able to fill all the orders they receive. The large gain by the banks from the sub-treasury and the return flow of currency from the interior give assurance of a favor able bank return on Saturday and the heaviness of sterling exchange indicates that no gold will go out this week. There was also a subsistence today of recent vague rumors of financial troubles in the commercial world. The sharp drop in Peo- pies gas was due to the refusal of a court to grant an injunction against the Chicago city ordinance reducing the rate for gas to 7b cent per 1000. Its influence on the general market was only slight.
 The active bonds generally moved in sympathy with stocks. Total sales par value s, 22b.0 900. United States refunding ss declined B and the Ss coupon advanced < per cent on the last call.
 New York Stock Market.
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