Evening star., 1898-12-29
FINANCE AND TRADE
Reactionary Movement Of Yesterday
Pretty Well Checked.
STRENGTH SHOWN BY COAL SHARES
Iron and Steel Interests Also De-
velop Marked Strength.
GENERAL MARKET REPORT

Special Dispatch to The Evening Star
NEW YORK, December 29-The market
for miscellaneous securities was disposed
to renew the reactionary course which
characterized yesterdays late dealings, but
the demand at the decline was especially
confident
The coal stocks were taken in round
amounts as an evidence of faith in the new
trade agreement. The improbable conten-
'lons or the rival coal properties have
reached g point at which self-preservation
points the pathway to harmonious action.
perfect remedy for the ills of the last few
years is not likely, bat some Improvement :
Is reasonable certainty.
Inc granger shares with a profitable
season ahead and liberal increases in earn
ings, find ready market on all declines
ana higher prices for them are considered
as certain as things speculative can he
present dividends for this group are at
Least assured and occasional extra dis
bursements are pointed to between the lines
of recent statements ~
me conditions of the country suggest no
occasion for lower prices for weil-man-
aseo properties, but the conditions of mar
slned accounts are worthy of careful
scrutiny for the time being Eliminating
the iear OF OVERRIDING and the arguments
Tor lower prices fall fiat
me buying today during the weak period
VI the morning was at all times better than
the selling. Some short sales were made
around the room, and the street coupled
the names of some of the largest profes-
slonal operators with these transactions
Later In the day the most liberal trader
ln Ine group was quoted as being thor
oughly satisfied with the bull position and
prospect. "''N
"A small premium on American Sugar
forced covering of short contracts during
the opening hour, which advanced the price
of those shares 212 per cent Scarcity of
stock was plainly reflected, but sentiment
Is not entirely hopeful, even though the
paid-for portion of these shares remains in
strong boxes "
The trade fight is costing money and
compromise, consolidation or decreased
earnings, with an attendant change in the
dividend rate, are the things which the
American company must face and choose
between. The spirit of the times favors
one OF the first two alternatives
The iron stocks We're taken care of by
their friends, Federal Steel issues holding
remarkably well during the midday trad
ing.
Iron and steel contracts coming into this
country from abroad and the almost daily
chronlcll5s OF such achievements in the
foreign press are advertising American pos
slbilities in manner most encourag ging TO
the management of new enterprises
The speciaties in all departments We're
given good support and the desire to sell
decreased In consequence
The furry in call money at the close of
Yesterdays business has been set down as
a temporary and somewhat artificial Incl
dent. The urgent demand and not an alb
solute lack or strngency in the supply was
the occasion of the advance from the re-
cent normal level. The evening up of con-
tracts may invite lower prices toward The
close of tomorrow's business but the main
situation is one inspiring confidence.