Evening star., 1902-01-21
Stocks Were Dull and Market Ruled
by Professionals.
Big DEALS HANGING FIRE
Rumored Attack on Missouri Pa
cific Did Not Materiaiize.
GENERAL MARKET REPORTS

Special Dispatch 10 The Evening Star
NEW YORK, January 2i-There were
no noteworthy changes in stock market
CONDITIONS this morning. the volume OF
business shrinking TO meager proportions
and prices being made almost exclusively
by the professional element London sold
some 5000 shares OF various stocks, but
there was no significant liquidation. Money
rates ruled around per cent, a fair sup
ply OF funds under that rate coming INTO
the market at one time The banks have
gained over million dollars at the sub
treasury since last Friday and the fiow cf
money from the interior continues
While routine money conditions are favor
able. some of the larger banking interests
are holding aloof from the market awaiting
possible changes in the policy Of the
Treasury Department. Should government
funds be deposited with the national banks
or other measures looking to the oyercou,-
ing or the present boarding process he
adopted. bankers would see their way clear
toward large undertakings. Many meritor-
ious transactions have been forced 10 wait
untl, tne uncertainties of the situation are
materially relieved.
Should the ways and means COMMITTEES re-
ouce the war taxes. as is now suggested
such action would be regarded as benenciai
to the market outlook While these ,nat
ters are pending in Washington or until
their probable disposition becomes a known
Quantity. there Will be continued conserve
tism in banking circles
As to the Northern Securities controvars,,
a very careful consideration of ali the facts
oy competent counsel encourage officers OF
the company I'm their conviction that no la w
mas been violated. The time for depositing
the stock or the Great Northern COMPANY
expires today and numerous TRANSACTIONS
We're made for cash In consequence
President Ripley of Atchison in an inter-
view today called attention to the fact
that his company had full authority 70 is
sue a mortgage bond instead of the deben-
lures offered last week, and that the sub
stitution was made In the belief that the
pest interests of the shareholders were be-
ing maintained. Subsequent Criticisms
have annoyed the management, particular-
~ those made by holders of the adjust
ment bonds, but inasmuch as the first init
nation OF the transaction came from the
underwriters of the bonds and not from
the officials a fair proportion of the crttI-
clsm was. at least, not wholly underseryed,
Reports from the winter wheat belt were
more encouraging and stocks In that sec
ton were given good support ST. Paui
was supported by inside interests and a
rev or the cheaper issues reflected the
presence Of a friendly interest Rumors
that an attack would be made upon Mis-
souri, Pacific during the day resulted IN a
heavy tone In all the Gould shares, but the
threatened attack failed to appear
During the last month there have been
more preoictions made as to the day-to-
day action of the stock named than as to
the course of any other property in the
market, and not one Of them has material
ICED.
Metropolitan was bought by houses with
fhiladeiphfa connections and rumors OF VAL
liable rights were to be heard and from
sources in which they were credited. Lack
awanna moved up sharply for a gain of :,
per cent, but the coal stocks were, in the
main, heavy.
American Tobacco stock was stricken
from the list during the day. owing to the
small amount now outstanding but the
other Tobacco issues were firm.
Prices rallied on covering during the sfnal
hour. but there was no increase in commits
sion business.