Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-01-02
Stocks Were Active, With
Bullish Tendency.
WHOLE LIST STRONG
ST. PAUL AND MISSOURI PACIFIC
FEATURES
The Steel Issues Were Well Bought
as Result Of Profit Sharing
Proposal.

Special Dispatch to The Evening Star.
NEW YORK, January 2.-American rail-
way shares in the London stock market
were strong and showed advances extend
ing to five-eighths over our closing prices Of
Wednesday.
The strong tone in the London market and
general feeling among the traders that
the greatest pressure on the money mar
ket was practically over, led to q very
buoyant opening of the stock market here.
Commission houses also reported quite an
Increase in buying orders for Out-of-town
clients. Initial prices, therefore, In nearly
every instance showed advances over
list Missouri Pacific was the most promi-
nent feature Of the active stocks. it's ad-
vance extending to Is, recovering the best
part OF Its dividend of ~, for which the
books closed this morning.
Chicago and Great Western gained 1 per
cent on good buying, based upon rumors
that the property would soon be trans
ferred to the st. Paul road. Atchison.
Reading, Erie and St. Paul all showed good
fractional gains, and had many friends. who
were bullishly inclined toward them. Wa
bash preferred and common and Texas Pa
cific and NJ. X. and T. preferred were
thought well of by the Gould crowd and
both scored good gains on buying said to
be encouraged by the inside.
In the industrial list there were many
strong features. Copper gained over L
per cent, General Electric, IN. Tennessee
Coal and Iron over per cent. The United
States Steel shares were very active, and
the price easily advanced on buying in
fiuenced by the new profit sharing plan.
published late Wednesday afternoon, and
which is expected to create a very large
investment demand for the preferred stock.
In the local traction series, Manhattan
was the strongest, large amounts OF the
stock changing hands at an advance OF
nearly 2 per cent Metropolitan was the
next strongest. Brooklyn Rapid Transit
showed some hesitancy, and at one time
looked heavy. There were some slight re-
actions after the first Eour Of trading. but
on each setback the undertone remained
strong, and there was noticeable dis
position TO recover each recession.
Government bonds were unchanged and
railway bonds strong and active. Money
loaned at 10 per cent.
Just before noon another rally started
which carried Reading, Southern Pacific,
st. Paul. Union Pacific and Missouri Pa
cific slightly above the earlier high figures,
but on this advance a good deal Of real
izing was noticeable and prices shortly
after again yielded fractionally. Sales to
noon were over half million shares.
The subtreasury continues to gain cash
from the banks. Up to the close of bust
ness on Wednesday it had absorbed 81 .429 =
COO, but cash from the interior has been
heavier this week. the receipts SO far being
over three and one-half millions. The loan
and deposit figures are very much mixed SO
far this week, and nothing accurate can be
given regarding those two items in the
forthcoming statement of the banks on Sat
urday.
In the afternoon trading was a little less
active and the market developed a some
what easier tone, without special feature.
Save rather liberal supply of stocks on
profit-taking sales, the best support in the
reaction this afternoon appeared in st. Paul
and Missouri Pacific, both of which acted
we'll In the face OF yielding market