The age-herald., 1902-02-14
DISPOSITION ID
 REALIZE PROFITS Trade in Stocks Was Similar to Tuesdays Record GAINS BEING WIPED OUT There Was No News to Account for the Days Extreme Weakness. Closed Slightly Irregular,
 But Easier.
GAINS BEING WIPED OUT

New York, February 1s.-Today's stock market was similar to that of Tuesday, but showed an increased disposition to realize profits where considerable ao- vances had occurred. The buying and plo- ding up of other stocks to make 1resh points of strength to cover the reanzlng was in evidence but rather less ef1ectlVe' and was less persistently maintained the earlier gains being largely wiped out In the late reaction. The local fractions were under decided pressure, and notwithstand- ing the support accorded to them they ex- ercised depressing influence on the rest of the market. The same was true or Amalgamated Copper which sagged away under constant offerings without much evidence of support, closing at net loss of 21a. There was no news to ac- count for the weakness. The depression of the local fractions was of course due to the proposition of the Brooklyn Rapid Transit directors to issue bonds to the extent of $150O0,000. The argument that this abundant capital would check the diversion of current earnings into the betterments and extensions, and would thus hasten the period of dividend dis bursements, apparently failed to reas- sure the speculative sentiment and tho open buying of the stocks by inside in- terests was equally unavailing. The news of the proposed bond issue also upset cal culatons of a coming merger of all the greater New York transit facilities, which has been an instrument in the hands of spectators for some time past The fail ure of the announcement of the details of the Metropolitan Street Railways new financial plan, which was executed today, added to the feeling of doubt and distrust. although that stock itself was best sup ported of the group There was no ap- parent cause for the reaction in the prices of the news outside this beyond the natural disposition to sell at profit what had been bought at lower prices Reports of renewed rate cutting among the far western railroads may have em- phasized the desire to sell their stocks. The reports received of gress earnings for the first week in February also showed a rather prevalent tendency to decreases compared with last year. This was notably true of the southwestern railroads, but there was marked strength in that group led by Texas and Pacific, with a rise of 21a on intimation of very large earnings There were unusually large dealings in the Colorado Southern stocks which were supposed to be due to expect ation of increased dividend dis bursements, but the common rose an ex- treme 2R over Tuesdays level late in the day after the announcement had been mad of the declaration of only the regu- lar 5. per cent semi-annual dividend on the first preferred stock. Money centin- ued easy and did not enter into consider ation. London had apparently been re- lieved of pressure for gold from Paris, and further experts from here are not in immediate prospect. The steel stocks showed some early response to the very favorable conditions reported in trade, but reapsed with the rest of the market. The market closed slightly irregular but generally easier.
 There was a very large business done in bonds, but the movement of prices was irregular Total sales, par value, $j.812, ,0G0.
 United States bonds were all unchanged on the last call.
 s4sw York Stock Market.