The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-01-09
LARGE DEALS ENCOURAGE
WALL STREET SPECTATORS.
DIVIDED CONTROL OF READ
ING BRINGS ANIMATION.
Dissolution of the Bankers Pool
Relieves Anxiety About
Money Market.

New York, Jan. S.-To-day's stock mar
ket was languid and somewhat irregular
during the early part Of the session. but 1t
was reused into greater animation and gen.
eral strength by reports of the deal for di-
vlded control of Reading by the Pennsyl-
vania and Vanderbilt interests. The coalers
led the movement, but the Readings them
se.ves were but moderately affected. beyond
a full recovery from some earlier depres-
sion. Pennsylvania also failed to share IN
the strength awakened by the reports. the
Fries took the lead and scored advances OF
between III and 81. on enormous dealings.
Concise details were lacking OF the deal. bat
ii was taken for granted that important
step had been taken toward further CEN
traiizing OF control Of the anthracite traff
large buying of the Readings for Baltimore
ana OHIO account, and the dominance of
the Morgan influence in Reading made 1t
evident that the usual observance of comfy
between the Pennsylvania and New York
Central powers would be followed.
RESUMPTION OF DEALS.
The fact of the resumption of deals and
large. financial projects in the railroad
ton. The declining course of the money
market prevented the speculation. from
anxiety on account of the money situation.
The announcement late in the day that the
bankers pool. which subscribed No.tco. 900 in
the middle of December for the protection
of the money market against emergency.
lldu uCCh ulSStltSu, lut u ble VII oA
security and sled to the final outbreak of
buoyancy In which the market closed.
New York Central and Baltimore and
Ohio shared to some extent in the strength
due to the Reading report. OF other special
movements, that in the corn granger was
attributed to the growth Of the corn move
ment. although there was some evidence of
organized market support in Missouri Pa
cif1c and Rock Island. The speculation was
continued in sugar. which is usually on the
approach of a dividend period for that
stock. but there was prOft-tak1ng IN the
stock in the latter part of the day. There
was also evidence of prof1t-taking from time
to time in some of the Pacifics and st.
Paul.
STEEL RALLIES.
United States Steel showed a tendency to
rally from yesterdays declines. Amalga-
mated Copper was very irregular. but was
inclined to react under the influence of the
Of Copper, both here and in Lon
don. The New York public utilities con-
ttnued to reflect the favorable effect of
Governor odelrs recommendation for the
repeal of the franchise tax. The reported
blizzard In the Northwest was taken ac-
count Of by traders. who sought to renew
the market reaction of yesterday. The re-
covery in the London money market and
the frmer tone of sterling, exchange at
tracted some attention. The reduction in
money supplies in London is sufficiently ac-
counted for by the weeks reduction of over
sSO.0 coo in the. loans of the Bank of Eng
land. With this largely augmented control
Of the outside market. 1t is matter of inter-
est. whether the Central institution viii at,
operate directly TO ease the outside market
in preparation for coming Government
loans operations.
irregular. Total sales. par value. S,SO.W0.
United States bonds unchanged on the last
call. 81
Bond Sales at New York.
REPUBLIC SPECIAL.
New York, Jan. S.-Sales Of bonds were made