Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-01-29
Stock Market Opened With
Bullish Tendency.
CLOSING WAS WEAK
LACK OF INTEREST ON PART OF
PUBLIC.
Some Good Buying Of the Issues Of
the Coal Carrying
Road.

Special Dispatch to The Evening Star.
NEW YORK. January 29-Higher prices
for American railway shares were again
the rule in the London stock market, and
this, together with a break in the price of
wheat at Chicago yesterday-which is ex-
pected to increase exports of that cereal
and a better feeling over the outcome Of
the Venezuelan matter, all contributed to-
ward-a firmer tone and an Increased bullish
sentiment at the opening of the local stock
market.
Initial dealings in nearly every instance
showed fractional improvements, and be-
fore the end Of the first hour these early
advances had been slightly added to- At
one time the market showed some return of
activity. st. Paul appeared to be the leader
In the early dealings, the stock gaining
over 1 per cent from yesterdays closing
price. on renewed talk Of valuable rights
to be announced In the early spring. Moth
ing. however. toward this end was expected
at the meeting of the directors of the CON-
pany to be held today.
Missouri Pacific showed more life too
and the price easily advanced little over a
point on fairly large orders. Baltimore and
Ohio. Union Pacific, Southern Pacific and
the roads Of that group were about u per
cent better; Canadian Pacific, a feature Of
strength IN the London market, was also
strong here. and after opening up u gained
"a per cent further on buying. said to rep
erty.
The soft coalers were slightly improved.
and there was a great deal better feeling
regarding the anthracite stocks on account
OF the enormous earnings of Erie and the
more than fair reports from the Reading
for the month of December. The former
road showed a net increase OF $61S, $40 for
after fixed charges, of $796, ST. gross, which
is $4eO.611 better than for the same month
last year.
The traction shares were fractiona1ly
higher. with a little more activity in Man
haitian.
The features Of the Industrial list were
Amalgamated Copper. which was heavily
dealt in at an advance OF about / per
cent. and a sharp rally Of nearly per
cent in General Electric. -
Boston buying orders were responsible for
the advance in copper, and 1t was thought
the pool which has been accommodating the
stock around 63 and 81 were also taking a
hand In the upward manipulation The steel
issues showed no new features. the stocks
continuing rather inactive, but firm.
Sugar acted a little contrary to the rest
Of the list at the start, reacting fraction
ally, but there was no pressure to sell dis
cernable. After the first hour of trading
there were some reactions in the active
shares, and the market showed some signs
Of relapsing into dizziness again.
The sales up to noon amounted to 219,OOO
shares, a fair improvement OF yesterdays
transactions at that hour. Commission
houses. while admitting public apathy still
continues were nevertheless encouraged
market and the strength displayed by
some of the more prominent railway
shares.
st. Louis and San Francisco issues were
decidedly strong again today, but the sell
| ing looked better than the buying on the
| bulges that occurred. The dullness increas-
! ed in the early afternoon, and the market
weakened some en- selling by traders who
were disappointed at the lack Of business.
There was ne news OF any kind, but the
Il
denee of the early morning strength. ST.
| Paul losing y per cent Pennsylvania u and
several other prominent stocks acting q
| per cent. e -
In the late trading an effort was made to
rally the market by bidding up the Erie
issues, the first preferred and the second
preferred stocks both scoring fair gains,
but the general list did not respond read
lily. and these efforts only served to hold
the general list around the reactionary
levels of the earlier afternoon. 49,