Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-01-28
Stocks Were Dull, With
Prices Lower.
LONDON WAS A BUYER
ROOM TRADERS HAD CONTROL OF
MARKET.
Weakness Of Pennsylvania Stock Was
q Feature Of the
Market
Special Dispatch to The Evening Star.

Special Dispatch TO The Evening Star.
NEW YORK, January 2S.-Again Lon
don prices for American railway shares
showed fractional improvements over our
closing figures Of yesterday. which had
little influence on the opening here, the
Initial prices showing slight gains through
out the active list. with the possible ex-
ception of Pennsylvania, which acted
heavily and opened slightly lower.
The Fries were conspicuously firm, and
the good support was said to be in antici-
patton Of good December earnings which
are expected soon to be made public. Union
Pacific also showed good strength, but it's
allied road, Southern Pacific. lost Y per
cent very soon after the opening.
Missouri Pacific and st. Paul were fairly
we'll supported While Copper advanced
rather sharply on buying said to be for the
pool operating in that speciality, there did
not appear to be plentiful supply of float
ing stock, and it rallied very easily, not
withstanding the trade outlook is not quite
as good as it was few weeks ago.
In the first half hour Of trading there was
resumption of the traders selling move
ment started yesterday afternoon. but at
the end of that time, when it was seen
that stocks were not easily dislodged, the
traders started a covering movement. which
rallied the list to little above opening
figures. In this advance the st. Louis and
San Francisco issues were the most con-
spicuous, the first preferred gaining over 1
per cent.
In the traction shares BROOKLYN Rapid
Transit was the most active and showed
more of a disposition to participate In any
improvement in the general market
Pressed Steel Car was active and strong.
ont ytyth1 Chnd fnan
shows an increase of over two and half
millions in the surplus account after all
fixed charges. while. 1t Is said interest pay
ments for 1903 will be materially reduced
by anticipating the per cent notes.
The delay in the final acceptance of Ven
ezuela's offers for settlement by the allied
powers was the excuse for selling stoks
late yesterday, and as teday's news is not
changed in that respect the bears are try
ing to make the most of the hesitation on
the part of Germany The market, how
ever. still continues too dull to give either
the bull or the bear faction much adj
vantage
Up to noon London had traded In about
900 shares, while the total transactions in
stocks up to that time amounted to 165 700
shares. The market continued to show a
dull, featurelesS tone, but prices held very
well considering the lack of business
Traders tried to weaken Amalgamated
Copper, but their sales were easily absorb
ed and the stock held it's early advance
In the early afternoon the market Yielded
a little on the renewed heaviness in Penn
sylvania railroad stock, that property and
New York Central seeming to be the spe-
cial target for the bears. There was no
news to account for the bearish feeling ex-
cept possibly the idea that the company
has recently inaugurated large increases in
both the bonds and the capital stock As
these increases, however, were known ove-
two weeks ago it seems rather late in the
day for attacks to be made for this reason
A close observer of the market connect
ed the selling movement with the renewal
of the Could Pennsylvania friction, as the
former following is known TO include some
very strong backing. and this following IS
not handicapped, either in the way of large
capital requirements for contemplated rail-
way improvements i
There was no new feature in the late trad
ing. inactivity being the only ruling spirit
to the speculation, traders becoming tired
of selling stocks to each other without
profit to either, the larger interests and the
outside public doing nothing in the way of
trading. This apathy on the part of the
influential traders was not Objectionable
to the banks. as they will be required to
furnish a great deal of money in the near
future to carry on some important improve
ments, etc. contemplated by prominent
railway systems.