Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-02-02
STOCKS RULED FIRM
Business Volume Reached
Closely That of Yesterday.
SHORT ACCOUNT DEALINGS
Commission Houses Cut Very Little
Figure Today.
AMERICANS FIRM IN LONDON
Bond Market Again Strong-Sharp
Rise in American Can-Steels
New High Record.
AMERICANS FIRM IN LONDON
Special Dispatch TO The Star.

Special Dispatch TO The Star
NEW YORK, February c.-The stock
market opened strong and comparatively
active this morning and ruled firm dur
ing the greater part Of the business scs-
sion, on q volume of business Closely
approximating that of yesterday. III was
the general comment of observers OF
market conditions that such strength as
was exhibited was the result chiefly or
the covering of short contracts. If such
were the case, however, the declines
scored last week were deprived or d
great deal of significance, as they in turn
must have been caused in large measure
by operations for the short account.
At all events in todayS dealings the
business of commission houses cut very
little figure.
American shares were firm In the Lon
don stock market. where Il general cheer
full tone prevailed due to what was de-
scribed as the final disappearance OF the
Balkan problem. For the hrst uine III
more than week. operations mere ior
foreign account showed an excess or pur-
chases but the amount taken was no
greater than had been the previous daily
sales.
Aside from the more or less technical
circumstances mentioned above, there
was nothing In the news overnight or IN
the developments of the day to which the
tendencies of the market could be directly
referred.
Money Situation Unchanged.
Money market and foreign exchange
circumstances were practically unaltered,
and little attention was accorded to the
further engagement of gold for shipment
to South America.
legislature upon the anti-Japanese bills
was likewise ignored. The rally in
prices appeared, in fact, to be little
more than a normal upward reaction
from the rather protracted decline
which eliminated yesterday.
The bond market was again strong,
and the transactions there were con-
siderably in excess of yesterdays and
Fridays totals.
In the stock market very fair diver
sitcation of interest was exhibited and
round advances were scored in all de-
partments. United States Steel preferred
sold at new high record figure. and the
common stock was likewise strong and
active. "A very sharp rise took place In
American Can preferred. and rumOrs we're
current that the management had in con-
temptation the payment of the accrued
dividends on the stock.
Rally for Copper.
The copper shares rallied in the Lon
don and the local stock markets alike.
Consolidated Gas was duller than for
some time past in spite Of the announce
nent that the mandate of the Supreme
Court in the so cents litigation would be
handed down Friday.
The local traction securities were also
firm but rather inactive, with the eXcep-
ton of Brooklyn Rapid Transit.
In that particular instance rumors that
a dividend would finally be declared and
before the end of the present week were
forced to do further service.
There was little of interest to be named
in connection with the transactions in
the railway lists, aside from the extent
and the generality of the advances scored
and the comparative activity in one stock
or another. Notably firm features were
Erie Denver and Rio Grande, Reading,
Union Pacific and Southern Pacific, and
the Wabash stocks.