Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-01-27
FINANCE AND TRADE
London Demand Had Good
Effect on Stocks.
PRICES WERE STRONGER
PROMINENT FEATURE.
Opposition Of Baltimore and Ohio to Its
Terminal Plans the Alleged
Cause.
PRICES WERE STRONGER

Special Dispatch to The Evening Star.
NEW YORK. January 2z.-In the London
stock market Americans were a little more
active and " per cent Improvement was
shown for most Of the active shares over
our closing prices of yesterday.
The local stock market also opened at
slight advances over yesterdays final
prices, and the feehng was generally i'm
proved over the better outlook for set
Element of the Venezuelan situation.
At the start there were improvements ex-
tending to Y per cent in a great many Of
the active railroad issues Erie being espe-
cially in demand. both for London and the
western SPECTATORS. The stock, after open
ing up u per cent, rallied u more on pur-
chases In round lots by the above-men-
toned interests.
Chesapeake and Ohio was also well
thought of by the foreigners, as we'll as
some good, strong interests on this side Of
the water.
st. Paul acted well, as did Union Pacific.
Baltimore and Ohio Southern Pacific and
Canadian Pacific. Missouri Pacific was not
quite. as active as of late, and some long
stock appeared to come out around 112.
Perhaps the story of Baltimore and Ohios
move In buying routes for branch lines
through the Cherry Run locality, contained
In this mornings dispatches, in an effort
to handicap the Goulds in their work to
Western Maryland's outlet. led to some
uneasiness in regard to the fight between
the Pennsyivania-Gould interests.
The United States Steel shares showed
good rallying power, both the common and
preferred advancing easily with the rest of
the list.
Copper shares were especially strong and
gave the appearance Of Standard Oil ac-
tlvfty In that direction. Sugar was firm
but not very active: it also gained strength
however. In the little that was done in the
shares OF that corporation. The Sidetrack-
ing Of the Cuban treaty, however, still
Keeps this speciality In the background so
far as speculative movements are con-
cerned.
The traction shares were rather active,
especially SO In the case Of Manhattan,
which sold ex-rights this morning, the price
of which ruled around 81. This added to
the market price of the stock was equal to
an advance of about " per cent over yes
terdays high. Peoples Gas continued to
show the advancing tendency so prominent
IN yesterdays late trading.
Commission houses reported some Inn
provement in outside business. and the buy
Ing orders from this source and from for
eigners led to some early advances in the
general list on short covering. This move
ment was helped somewhat by a turn-about
on the long side of the account by q ma
1or1ty OF the room traders. The market
broadened out some after the first hour Of
speculation. and there were general ad-
Vances throughout the list, extending from
one-fourth to one-half above the opening
figures.
Up to noon London dealt In 261. 200 shares
which was an improvement of something
like 10000 shares over several previous
days transactions for the same period Of
time.
The decision rendered yesterday by the
United States Supreme Court affecting the
validity of title Of all the lands granted to
the Northern Pacific Railroad Company did
not have any appreciable effect upon the
Northern Securities stock, the price being
only fractionally under that of yesterday.
In the early afternoon the market devel-
oped very inactive tone, but prices were
held comparatively firm because of a lack
Of pressure to sell, the bears waiting for
bulges before increasing their short ac-
count and the room traders generally look
ing for a further afternoon rally on which
to take profits.
The extreme dullness encouraged some
bear selling in the late afternoon trading,
and the larger interests did not appear to
be actively opposed to the reactionary
movement then in progress. Disappoint-
ment is still felt in the street over the lack
of outside interest In speculation, and there
is undoubtedly a feeling of unrest among
the large traders over the Introduction of
the antitrust legislation, which is likely to
be seen in the House this week