Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-01-30
Dull and Irregular After
First Hours Trading.
BONDS WERE QUIET
MONEY LITTLE EASIER, LoANINa
AT 8 PER CENT.
Commission Houses Did Practically
Nothing-Movements Of Money
Showed Gains From Interior
Special Dispatch to The Evening Stan

Special Dispatch to The Evening Stan
NEW YORK. January S0,-The an
nouncement Of the rejection by the allies Of
venezuela's present offers for settlement
and the consequent prolongation Of that
disturbing factor was expected to fore
shadow lower market at the start today,
but the slightly better London prices for
American shares and the strength Of the
Erie issues had a sustaining influence to
the early trading In the local stock market.
The opening was somewhat more active.
1t Is true. but the sales by the professional
| bears were well absorbed at the start, and
after the first few minutes OF speculation
| there was a fractional improvement, led by
Erie preferred and Erie common. the for
mer selling ex-dividend at 721a, equaling
gain Of n per cent over yesterdays clos
Ing figures, while the latter stock gained n
per cent over Its opening figures.
Pennsylvania was again pressed for sale
at the opening, and the stock lost n per
cent on selling that still looks suspiciously
like the Gould following were striking back
and there appears to be growing feeling
In the street that the fight between these
two large and influential interests II be-
coming more acute and IL likely to become
a very marked factor in the market unless
more amicable relations are soon estab-
lished
The passage yesterday by the Pittsourg
select council OF an ordinance favorable to
Wabash terminals in that city, which has
perhaps been opposed by the Pennsylvania
railroad. IL another point scored for the
could interests and. although this measure
does not come until next Monday for q
final passage, the Wabash issues were
favorably affected by this flrst-skirmish vic
tory.
In the industrials Sugar was about
steady, while Copper was somewhat re-
dictionary in tone.
The steel issues ruled shade under
yesterdays prices. but General Electric
neglected and a little lower.
In the traction group Brooklyn Rapid
Transit was In good demand, while Man
haitian and METROPOLITAN were a Little un-
der yesterdays level
Bonds were quiet and money was q little
easier, loaning at per cent.
After the first hour OF trading the market
became dun and irregular. with no definite
tendency to speculation.
There was a little squirt In People'v Gas
stock about the noon hour, but the rest OF
the list lost ground. St. Paul was on II
Erie y. Metropolitan was a weak feature
amounts in the active shares.
The arbftrage houses only traded IN about
1000 shares. and the whole transactions I'D
to noon amounted to 174.S0O shares
Commission houses were doing practt-
cally nothing.
In the early afternoon stocks came out a
little more plentiful on the fractional ad-
vances, and this encouraged the profess
sionals to try again to develop some weak
ness On the speculation,
fennsyivdnaA was weak, and the Pacific
shares were attacked on reports that there
had been hitch in the Union Pacific con-
! ference with its employees in regard to
an increase In wages. and a strike on that
line Is likely to occur Immediately.
This had weakening effect on that stock
and the sales were In pretty large amounts
The heaviness In the Pacific issues had
rather disQuieting effect rpon the gen.
eral market, and as the afternoon wore on
there were declines in most Of the active
shares, extending to Y per cent In some In
stances. -.
Metropolitan Traction was also q feature
OF weakness in the afternoon market and
the selling was said to come from pretty
well-informed people In regard to the COM
pany's business.
The movement Of money this week still
shows gains OF cash from the interior but
the banks have lost quite largely to the
subtreasury. and the loan item IL very
problematical, as some Of the large banks
have made some new loans, 1t Is said.
In the late trading the market stil show
ed somewhat heavy tone and traders
were bearishly inclined. though a little
cautious, owing to uncertainty regarding to-
morrow's bank statement.