The Washington times., 1903-01-31
Movement Fails to Develop
Any Explanatory News or
Gossip-VeneZuelan Diff
Guilty Again a Factor in
Trading,
Market OPensand Continues
DuII-Acute Pressure Abb
sent From T0day's Trad
ing-Banks Gain So, 2O7,-
900 in Cash.

NEW YORK. Jan 2I-Tbe stock
market opened and remained dull today,
bus the dealings showed none Of the
acute pressure which was evident in tie
last hour of business yesterday
A much better comprehension of tn
threatened labor troubles on the Union
Pacific system was evident This moT1-
iHg's adyices set forth clearly thai The
trouble is confined to the c0mrany's ma
chine shops at Omaha and it was stated
furthermore that the attitude assumed
by the men there did not meet with the
approval of their associates in other
lines OF the company's employ
By reason Of the latest hitch in ne
Venezuelan negotiations that question
loomed up again and was the cause of
some weakness in the London market.
The operations here for foreign account,
however, continued on a trifing scale.
The usual weekly trade reports Of the
mercantile agencies were highly salts
factory exhibits and were among the
most interesting contributions 10 the
days situation.
The probable showing Of the bank
statement came in Tor little discussion
prior TO the publication of the figures.
although the preliminary estimates
pointed TO very strong showing.
The conspicuous feature OF the market
was Delaware and Hudson. which scored
an advance of over . points. but the
movement failed TO develop any ezpIana-
tory news or gossip
80
were both fairly steady. Pennsylvania
was active and showed scattering ItQui-
datfon OF The same general character
that has been observed in he dealings
in that stock for some time. The Erie
issues were well held and St Louis
and san Francisco was firm
The traction stocks were dull and
moved within small limits of fuctua-
tions Little was done iii the industrial
or miscellaneous stocks. which, how
ever, remained steady.
The most important news Of the day
bearing on any particular stock was that
with regard 10 the dividend action on
Northern Pacific In addition TO the
declaration Of the usual quarterly divi-
dend Of ~ per cent. an extra dividend OF
p Del. cent was ordered. Il was not
stated whether the extra dividend was
special declaration, or whether il
could be regarded as a regular addition
al distribution Of profits.
The bank statement showed increases
in all Of its items. with the exception OF
circulation. where a further contraction
OF SIS. 600 appeared The most striking
change was the loan account, which in
creased s14,062, 900. The rise there prob
ably reflected in part the recent Penn
sylvania loan, and also the ordinary es>
ira requirements of the close Of the
month
The increase in actual cash was fairly
well in line with the preliminary esti-
mates. amounting to 500. 600 The in
crease in loans and IN cash was made
quateIy reelected in the deposit account
which increased only SIS, SGT. 900
IN consequence Of the other changes
surplus reserves rose 81, 465, 600. and tbs
banks now hold 81, 879, 900 in excess o.
the lawful requirements. In the cor
responding week Of last year the Ioa1
account increased S19,5S9. 900, and sur.
plus reserves stood at S26, 623. coo.
Following were the stock quotations
al the closing today