Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-02-07
Gould Stocks Werethe Market
Features.
MADE SHARP ADVANCE
HEAVY DEALING IN THE BONDS.
ALSO.
The Bank Statement Was Rather
More Unfavorable Than Had
Been Expected.

Special Dispatch to The Evening Star.
NEW YORK, February 7.-Although Lon
oon prices for American securities were
Iractionaliy lower and the speculative tenn
per OF the room traders appeared to favor
little further reaction, the opening to The
local stock market was only slightly lower
IN Few stocks. while the Gould issues all
showed signs Of returning activity.
mere were good gains In most Of this
group after the initial dealings The Wa
oasn issues were the most in demand at the.
s'ar'' the preferred gaining T-s. the COM
mon 81 the debenture BIS over point
from yesterday. Missouri Pacific also
showed good strength and on purchases
said to be for the pool operating In that
stock 1t gained " per cent before the first
half hours trading had ended
Union Pacific, the steel stocks, Baltimore
ana Ohio, Southern Pacific and the Erie
issues all opened a shade lower, but the
strength In the Gould properties helped the
general list to rally Of from y to y per
cent. copper shares and the traction is
sues. also the bituminous coal stocks were
ABOUT steady, the latter issues being held
IN check by the failure of the miners and
the operators to agree as to increase in
wages at their conference YESTERDAY. ST
faui advanced nearly a point on light trad
ing and Canadian Pacific gained y per cent.
Inc features Of the bond market were the
neavy trading and the good advances in the
wabash debenture BIS and in the Erie gen
erai lien bonds
Just before the end of the first hour of
t ee business sackened a little. except
ior the Wabash issues They continued
active. and the price Of the preferred stock
reached 90. as against 4S1s at the close yes
terday.
The buying in these stocks and bonds to-
Day was said to be for Standard OIL in
terests, who are supposed to be working
In harmony with the Gould following, not
only In this property, but elsewhere In the
same group.
On the publication of the bank statement.
which was more unfavorable that had been
looked for, the bears became active sellers
OF the list. the attacks being leveled at the
Gould stocks. which had shown so much
strength during the first hour and which
lad really helped the entire list to a SYM
pathetic rally. Missouri Pacific lost T.
WaDash preferred about% and the rest Of
the the list reacted to about opening prices
Ihis reaction. however, did not last long
as the shorts found good supporting orders
under the market. especially in the two
SOCKS named. and before the close Missouri
racine had again recovered half Of its loss,
while the Wabash issues scored advances
about the earlier high figures. the pre-
ferred stock selling up to 81 per cent.
These gains also had a good effect on the
general list, prices, as a rule recovering all
they lost on the selling movement Just after
the appearance Of the bank statement The
rise today In the Wabash issues and the
good strength shown In the other Gould
shares is undoubtedly based on the success
of the road entering Pittsburg and IN the
change In the management Of the Western
Maryland and the West Virginia Central
announced in today's papers. The plan for
the unifcation Of the Gould properties ap-
pears to be ripening rapidly now, and an
early announcement Of a holding company
with this idea in view Is looked for and
strong interests have evidently taken ad-
vantage Of foreknowledge Of this fact to
bull the Gould stocks.
The market closed active and with rather
firm tone. Sales today, 3O4. 800 shares of
stock, and of bonds 81, 500 600
The weekly bank statement follows: Re-
serve on all deposits decreased Sc, 335 600:
reserve on all deposits other than United
States decreased 1855 600: loans increased
$50, AT 800; specie decreased S4657 200: le-
gal tender decreased 81 SIT 600; deposits in
creased So, 40l 200; circulation decreased ST.
COS, 200.