Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-12-13
FINANCE AND TRADE
Stock Market Opened Strong, but
With Little Activity.
MODERATE COMMISSION DEMAND
Sugar and Metropolitan Traction
Stock Were the Features.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, December 13.-Prices wero
uniformly higher at the opening of to-
days stock market, as a result of a moder-
ate increase In the commission demand
and good buying for London account The
fortnightly settlements at the latter center
disclosed a discrepancy in favor OF the
short accounts and covering purchases at
cnce became a feature CT the foreign trad
ing. Money at European business centers
shows some tendency towards hardening,
but the security markets were more buoy
ant than for some weeks.
Recent experiences had tendency to de-
ter extensive commission house buying on
Monday morning advance, and the best
and most prudent commission orders were
contingent upon reaction from the OPEN
ing level.
In view of the fact that first prices re.
fiected gains varying from !. to / per cent
the delay in buying was by no means un-
natural, especially in the absence of new
Developments
The market held stubbornly in spite OF
limited trading, decline of nearly = per
cent in Man haitian under cover OF the dull
less and The execution Of stop-loss orders
being conspicuous exception to the main
situation. Burlington, 10y reason OF its
conservative management and bright pros
poets. was remarkably strong at an ad-
vance of l per cent from Saturdays prices.
Tne neishboring Granger issues were
strong In sympathy, although the person
mel of the buyers was perhaps less signifi-
cant. Northern Pacific was held up on the
prospects of a considerable increase-esti-
mated at SlJ0o00-in earnings for the first
week in December. The dividend recently
declared on the preferred stock has served
its purpose, and possibly has exhaus Ied its
influence in maintaining prices, as a con-
siderable block Of speculative long stock
remains to be marketed.
Predictions of enormous increases in earn
ings are likely to be frequent during the
next few weeks. Judged by earnings alone
the market is especially well favored. and
would seem to suggest little cause for APP
prehenSion. Even in especial instances,
notably Nashville, weekly decreases in
earnings are not allowed to work to the
disadvantage of prices because of reliable
assurances that the balances are on the
wrong side OF the account only temporarily.
This pf ase of the financial situation is
particularly encoura ging, because indicat-
ing growing confidence in future develop
ments.
Congress during the past two years
has been responsible for a range of holi-
day prices universally unpopular with in
vcs;ment interests. ACitations of a seri-
Gus nature have frequently wrought al
most miraculous changes in prices during
this season. and have come to be dread
ed by reason of costly experiences.
For some reason. not clearly discernible.
the fear of a duplication of such expert
ences has dwindied to minimum proper
tions, and recessions in values would. 1t is
believed, invite buying without regard FOR
the seasons superstitions. Instead of
alarming news from Washington. thereare
Indications of develop nents in departmental
circles which should be beneficial to prices
The strength of Union Pacific was regard
ed as foreshadowing pending favorableac-
ton at that center.
Among the specialties sugar and Metro
politan Traction were the features of the
market.