Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-01-22
Venezuelan Situation Dis
turbing Element in Stocks.
MARKET HEAVY TODAY
PUBLIC DISPOSED TO HOLD ALooF
NOW.
The Slight Recovery After q Weak
Opening Was Not Main
tanned.
Special Dispatch to Tn. Evening Star.

Special Dispatch to The Evening Star
NEW YORK, January 22-American RAIL-
way shares opened fractionally higher ia
the London market today. but later trad
Ing developed some weakness and prices
averaged from one-eighth to three eighth
per cent lower than our closing Of yester-
day. Consols were lie higher for both
accounts
In the local stock market the opening
prices showed fractional declines induced.
no doubt. through nervousness on the part
OF some hold of stocks over Germany's
persistent efforts to stir up trouble In tho
Venezuelan affair. Atchison lost y. South
ern Pacific Y. Erie. Reading. St. Paul.
Union Pacific, Canadian Pacific H. and
there were fractional losses elsewhere In
the list.
The local traction shares also showed de-
clines, both Brooklyn Rapid Transit and
Manhattan losing over q point at the start.
but the former soon recovered half Of this
decline. Manhattan. however, was rather
freely sold. and 1t was rumored that IN
siders were trying to shake out some OF
the following preparatory to an arrange
ment OF the rights to subscribe for new
stock The stock declined sharply Ia per
cent with very little support.
Chicago and Great Western "B's'' were
a strong feature. gaining n per cent at
the start on buying in connection with
rumors Of deal.
Chesapeake and Ohio also acted well, and
Its strength helped considerably to check
too rapid a decline in the rest OF the list
In the industrlals Sugar was fairly firm.
Copper was unchanged and the United
States Steel issues were only fractionally
lower. Railway bonds In the early trading
were featureless. Government bonds I'M
changed.
An effort was made to rally the market
after the first half hours selling but thers
was very little following to these endeavors
and before the end Of the first hour another
further losses Of from y to V were scored
by most of the active issues, and the tone
was distinctly heavy, the Venezuelan cpl
sode having, seemingly, reversed the posi-
at the close yesterday. when the market
looked as though a good rally would occur
There were some exceptions to this de-
cline just as there were In the opening
cessions, notably in Delaware and Hudson
which gained 3 per cent. later losing ore
third of the advance. Tennessee Coal and
Iron advanced per cent from the opening
and Great Northern preferred was I'D II.
on rumors OF an extra dividend Of y per
cent to be declared on Northern Securities
stock today.
The early afternoon market was very
dull and undressing, commission houses
continuing to report remarkably poor bust
ness. London's trading did not amount to
much over 10000 shares. mostly sales
Chicago Union Traction was little firmer
than yesterday, though some people still
persist in misunderstanding the purpose Of
the committee appointed a few days ago to
work in harmony with Chicago municipal
officials toward a better traction service in
that city. To people who are close to the
management Of this property. however the
plan Is considered very favorable, and its
effect on these shares should increase their
value materially. .
Around delivery hour the market became
little more active and firmer tone was
noted in the general list. the rally extent
Ing to IS per cent in some of the active
specialties. st. Louis and San Francisco
issues leading the advance.
This improvement. however, did not last
and the supply Of stocks was plentiful on
the bulge, the market giving unmistakabe
evidence Of being two-sided affair, I'm
which bear and bull professionals were con-
tending for the slight advantages accruing
from the fractional downward and up
ward movements occurring
The general disposition OF the outside
speculative public. however. was to keep
out Of the market entirely, pending a
Strengthening out of the Venezuelan diff
Guilty and less antitrust talk in legislative
bodies. sc. 49,,