The Washington times., 1906-02-04
TOPICS In WALL STREET.

Sales of stocks on the New Work Stock
Exchange during January were the larg-
est for any month with but one excep-
ton. For the past month there We're
traded in IS. SOS shares. as compared
with 416SS, S97 shares in April. 1901. the
record month.
\ feature of the past months trading
IS found IN the fact that on no full-Clay
session did transactions fail below the
million-share mark. Daily total sales
averaged about I.550, 900 shares. Deem
Der transactions were 81, 40s 900. while in
January OF 1905 there We're sold 20. 765. SIS
shares.
The recent buoyant movements OF the
stocks concerned in the Southern iron
merger led TO the oft-repeated assertion
that the deal was nearer contamination
than ever. II the deal is ever announced
II will probably be toun1 that the adj
vance IN the shares OF the companies
IN question has discounted any benefit
accruing therefrom. The s-point rise IN
Tennessee Coal and Iron attracted no
attention outside OF the group of specu-
lators who are chiefly responsible for its
most bewildering syrauons. The trad
ing element has long ago evinced dis
position to let II alone. Sloss Sheffield
gained points net The stock is closely
held and is easily manipulated.
The striking feature of the session
of Friday was the heavy buying OF
Amalgamated Copper which was re
Karded by many as significant. coming
so closely upon the heels Of tho reports
that the Amalgamated-Heinze deal is
at last under way.
Reading Is popular with a certain
group OF Spectators, but the rank and
file OF the trading element is disposed to
let Il severely alone. They argue that
one never knows what viii happen to
Reading at its present price. First they
are squeezed on the short side, then
they are "s~eated' on the long side
Outside OF the clique the principal oper-
atoms in Reading apnear to have been
for the short account.
The continued backwardness of Penn
sylyania is being much commented uD-
on. The stock showed no RESP onse TO
the favorable report of December earn
was in excess OF 81 000 coo while net
earnings We're greater by SllIS-O,si
PENNSYLVANIA is popular with traders.
and the bull element could turn It with
great effect 10 the long side of the
market.
nave prices Edtutu SuintltDltJ 10 Ell
courage the bear contingent to make
another demonstrations WAS the ques-
IiOn agitating Wall Street early In the
week. II vas answered on Friday and
yesterday 10 their full satisfaction
The more OF less Northumberland
TumoTs concerning the Great Northern
United States Steel ore land deal was
reflected in the rise of Great Northern
preferred IN Friday TO a new high rec.
ord. at 337. Northern Pacific at the same
time gained points. The negotiations
with regard TO these ore lands are said
10 have at last reached a head. but Off
cial confirmation Is lacking In the alb
sence OF James J. Hin. who left the city
last Wednesday for the South. The
Union Pacific holdings of Great North
eTn stock are said 10 be in process of
distribution and that Morgan in
terests are the principal buyers
Record sales in United Copper was
the feature In the outside securities
market the latter part of the week
United Copper rode to a new high rec
ord at ia.
Colorado Fuel and Iron scld up to s0i.
during the week. The cause of the late
reaction is but the action or feverish
stock, and an advance of the same or
even more than that win not be sur
prising tomorrow.