Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-12-16
FINANCE AND TRADE
Southern Railroads Dividend Causes
Advance in Its Stock.
COAL ROAD STOCKS IMPROVED
Market Was Irregular and Showed
Weakness at Close.
GENERAL MARKET REPORTS
Special Dispatch 10 The Evening Star.

special Dispatch 10 The Evening Star
NEW YORK, December le-The sen,i-
mental first effects of yesterdays action
on the part of the Southern railroad man.
asement IN declaring 1 per cent dividend
on the preferred stock of that company
was reflected in higher prices in both the
foreign and domestic markets. This ac-
ton. coupled with the resumption of div
ldendS on the preferred stock of the "Rir
rour, clearly demonstrates the position OF
the largest financial interests in me stock
market.
Lower prices might result from unfore-
seen causes, but a campaign In that in
terest would not be proceeded by dividend
disbursements on stocks In no wise plclg-
ed TO such expenditures.
MISUNDERSTANDING the preponderance of be
lief in favor of higher prices. the morning
was devoted To an effort to force large
trader out OF liberal line of long stocks
Resistence was. of course, encountered at
almost every point of attack, but advances
were by no means the feature of the days
trading.
Metropolitan and Manhattan were ex-
tremely nervous at times, and covering
purchases alone seemed TO sustain prices
The Northern Pacific issues were the SUBJ
Jects of considerable realizing during the
day, the prices OF both the common and
preferred stock rejecting the Increased
sales.
The coal shares with New Jersey Central
leading at an advance of 3la per cent. were
the most conspicuous features of the day.
Inese STOCKS as group have been neglect
ed for a time owing to the yagueness of
all data concerning future plans and pros
poets
Late developments have demonstrated
that inside efforts to bring about harmon
ious action on the subject of the total ONT
put and individual percentages of the traf-
hc have been multiplied and with good re-
suits. The anthracite coal issues are con-
sequentiy regarded as probable leaders In
the next general advance.
The Grangers particularly Burlington,
are well taken on the recessions and have
undoubtedly double advantage in large
earnings and organized effort to make the
most of them.
Narrowness is to be contendcd with for
time, and realiZations over the holiday
period may force fractional recessions. even
though the selling interests are forced to
pay higher prices TO regain their holdings
after the New Year.
The sales of American Sugar attracted
attention by reason of the steady yielding
in prices, although a fraction over 1 per
cent covered the decline The depression
liz this active Industrial, while limited in
degree and relatively of small moment,
had an adverse influence elsewhere
The adjournment of Congress at the end
of the week is generally regarded as an
addition to the fund of favorable Influences,
but operations are not sufficiently well dis
tributed to make such an incentive of much
value.
During the last hour prices were offered
down around the room. and In many in
Stances the days lowest range of values
prevailed during this period. There was ito
special news to inspire selling, the absence
Of demand alone sufticing TO curtail
prices. The decline may extend to the GUS
tomary limits of traders reaction. but
nothing more substantial seems likely for
the present