Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-01-31
Local Stock Market Opened
Rather Quietly.
SOMEWHAT IRREGULAR
WERE AMERICAN RAILWAY
/. SHARES IN, LONDON.
Banks Have Gained 90, 2O7, 500 in
Lawful Money, Larger Than
Anticipated Yesterday.
Special pispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, January 31-American rail-
way shares In the early London market
were somewhat irregular, with prices a:
about our bid prices OF yesterdays close.
The local stock market opened rather
quietly, a disposition manifesting itself
among the active bears to await small re-
oeveries In the list before again attacking
the weaker stocks In yesterdays reaction
Union Pacific, which was under the heav-
lest pressure In the late trading yesterday
on account Of the threatened strike of the
employees of the road. opened at about its
closing price. and on fair supporting orders
gained "a per cent.
The Erie issues were also fractionally
higher. and there was quite a sharp ad-
vance in Delaware and Hudson.
Reading was about steady. and Pennsyl-
vania was still a little heavy in tone.
Union Pacific preferred which had rathe,
sharp break yesterday, recovered a part
OF tts loss in the early trading
Inc steel stocks were inactive, but the
prices were only a shade lower.
Southern Pacific was rather freely sold on
the slight recovery that took place In the
initial dealings
Bonds were featureless, the marke,
dragged along nstlessly with only irregular
down.
After the appearance Of the bank state
ment the bears became q little more active
and tried to bring about another decline.
but this was successful only In q very
small degree, as most of the active shares
met with fair support and the chanses In
prices were only nominal.
delaware and Hudson continued to be q
feature Of strength on buying in very
GOOD amounts. The stock gained over z
per cent in price and the purchasing order
seemed still untitled.
st. Paul acted a little heavy. and the
same might be said of Southern Pacific
and Pennsylvania.
Union Pacific. however. was not inclined
to go below yesterdays lowest level, and
the insiders were without doubt fair sup
porters OF the stock on all the bear at
tacks to depress the stock
The Erie Issues were not as active today
as they have been for the past few days,
and they lost a little ground. but there did
not appear at any time desire to press
sales Of any Of the series Of this company.
The Venezuelan situation was still the
ruling topic among the traders but there
did not appear to be much uneasiness over
the outcome Of the affair, and an alliance
between France, the United States, and
possibly some Of the other foreisu Ven
ezuelan creditors, It was thought. ought to
tend to hasten settlement Of the whole
unpleasant situation.
The market closed shade under the open
Ing In some instances and IN others q trifle
above. there being no decided trend to the
speculation.
The bank statement follows: Reserve on
all deposits increased 81 .485. 800; reserve,
other than United States, increased 81, 49,
925; loans increased s14, O62 800; specie in
creased $500. 600; legal tenders increased
sos. 800; deposits increased $1S,966, 500; cir
culation decreased $229 500.
The banks. 1t will be seen, have gained
Sc, 2O7 800 in lawful money, which is con-
siderably larger than yesterdays estimate
The large increase in the loan item is
doubtless due in a great part to the distri-
button Of the Pennsylvania railroad loan.
These two changes call for an increase in
deposits S1.000,OOO greater than Is shown
by the statement.
The net result leaves the surplus at s27,-
$50, IT'S
Total sales Of stocks today 147, 100 shares
and Of bonds 81, 06O, 600.