Evening star., 1902-01-09
FINANCE AND TRADE
Buying of Manhattan Was the Fea-
ture in Stocks.
BALANCE OF THE LIST WAS WEAK
Public is Not interested and Trad.
ers Are in Control.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch TO The Evening Star.
NEW YORK. January s-The openIns
level of prices reflected an irregular stock
market, with liquidation evident I'm a few
stocks and a moderate buying demand In
others. London sent over a lower range
OF prices. and there was some selling OF
an effective character attributed TO that
center. Union Pacific failed to hold its
rise OF yesterday, and profit-taking sales
were evident throughout the day. Southern
racine shared in this heayiness. although
the trading was limited In volume
Ihe announcement made from Washing
ton that the government would abandon
its facincc transport service and charter
vessels from Pacific Mail or other privat Ia
companies was used to explain the recent
oemaho Tor the stock OF the company
named As the control OF the steamship
company Is owned indirectly by Union Pa
enc the latter was expected to profit sub
stantiaily by the proposed arrangement
hdhhattan was feature OF the day
r uIuer Dig demand, which advanced the
price beyond 40. 1t was announced early
IN the day that the first electric car would
pe run over the I'd avenue line during the
"a es, ana tne advance was party sentimen-
tdI as lhe result of this evidence of progress
toward modern equipment In addition to
thls circumstance yesterdays serious tunnel
ACCIDENT emphasized the desirability Of re-
iiet , ing the suburban traveller OF the dangers
anu annoyances of a steam-car tunnel
vanderbilt buying of Manhattan has been
noted previously, and today's advance was
not unlike a movement from the same
source one firm bought 25.0O0 shares of
tne stock Nickel Plate issues were in bet
Ter demand under the influence of good
earnings and rumors of an Increased divi-
Geno. Panhandle advanced to practically
lts record price. and scarcity of stock
was reported at the best figures. Special-
ues were more easily advanced than the
more active Issues and found a smaller
quantity Of stock seeking an outlet.
In the general list there were signs Of
seiIlng to take profits and nearly every
department was influenced by the steady
oHerings or stock. Atchison issues gave
evidence OF this condition the steel stock !,
were in good supply and nearly ali OF the
anthracite coal issues were heavy. An ef-
Tort was made to emphasize the fact that
the agreement with the coal miners expires
IN April. and that there may be trouble in
having an equally favorable contract drawn
Tor another year.
The dividend on Erie first preferred was
thought to be less certain, and Della ware
and Hudson, for similar reasons was weak
The trading element covered its short
contracts Yesterday and this morning and
turned again to new short selling The
market has failed to attract any pIIblic in
terest and the trading element is growing
restive under the delay. The selling is NOT
Oh the best. but 1t serves to preserve an
equilibrium in this between-markets condi-
ton which now prevails
The money rate throughout the day was
satisfactory, but gold exports are probable
next week. The latter prospect is not en-
couraging, and no sustained advance seems
likely for the present. The buying at the
a c;ass which do not require or expect I'm
mediate results.