The age-herald., 1902-02-12
FURTHER EXPANSION IN STOCK MARKET Many Important Stocks Took
 Up the Advance GREAT l RREG U LARlT Y The Disposition to Take Profits Was Very Natural On the Eve of
 HoIiday-cIosed Active
 and Unsteady.
iREAT IRREGULARlTY Y

New York February 11.-Today's stock market showed a further expansion III the dealings and the great irregularity of the market continued. The selling sue was rather better represented than yes terday but many important stocks LOOK up the advance at new points. The ols- position to take profits was very natural on the eve of a holiday. There was op- viously some misgivings also among spec uIatiye buyers less the expectations or coming deals would not be realized This was especially the case among the local fractions where the glamor of the coming announcement of the Metropolitan street Railway deal has suffered some decline. The anxiety on the subject was keener as an announcement of the plan IS thought possible over the holiday. Re- cent sanguine expectations of benefits to accrue to the express companies from sort of consolidation suffered some re- lapses as shown by the sharp drop of 71a fin United States Express, although the stock finally rallied 4k. American Ex- press after rising nearly points, lost 1t again.
 The speculative assumption that lost weeks huge loan expansion represented syndicate preparations for deals was sub jected to careful scrutiny today and the opinion was developed that financial op- erations already known abundantly con- firm this theory.
 Subscriptions to $2O, ,000000 of Baltimore and Ohio bonds and to $10000, 900 of Penn sylvania equipment trust certificates to say nothing of the acknowledged repay ment of a large scale of indebtedness 10 be replaced with New York banks, the Metropolitan Street Railway readjust- ment meant to provide $30, ,000, 900 and pre- parations for the St. Louis Southwestern second mortgage readjustment, the New York Central stock issue and that of the Canadian Pacific There were, however, significant points of strength in the market The steel stocks were all very heavily bought on encouraging traoe prospects, but the United States steel stocks met enormous fings at every slight advance. The la.e movement in Pennsylvania was regarded as an alter hating movement with that Southern Pa cific due to operations by the same inter est. Texas and Pacific was advanced on the strength of the increase in yearly dis bursement on the companys second m comes The cause of the strength in the . Iowa Central SIOckS dHu lllc NiiiiAOoPpi'S and St. Louis stocks was the supposed competition for control between Illinois Central and Rock Island. There was large buying of Southern Railway and Louisville and Nashville and of num- Der of stocks of comparatively small cap italiZation which was not explained. 1he buving of the Readings continued very large but this showed the effect of profit taking. The industrials as rule out side of the steel stocks and some Of the gas stocks were inclined to heaviness. Amalgamated Copper showed good re- coyery but closed with a small net loss. The closing was active and irregular. Business in bonds continued large and inc price movement irregular. Total sales. par value, $4. .460,000. United States new 4s advanced Is per cent on the last call,
 New York Stock Market.
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