Evening star., 1898-12-03
FINANCE AND TRADE
Steady and Fractional Advances Over
Yesterdays Closing Parity.
STRENGTH OF SOUTHERN SECURITIES
Big Events That VIII Influence
Stock Conditions Next Week.
GENERAL MARKET REPORT
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK. December 3.-The trading
in today's stock market was limited in vol
ume. but, i'm the main, steady al fractional
advances over yesterdays closing parity.
he same disinterestedness reflected I'm IN.
local market was reported from London.
but sentiment at the latter center is de,.id-
edly favorable TO American investments.
The strength Of Southern securities IN
both the local and foreign markets has
been something of feature during The
week An increased dividend on the pr.
ferred stock and the prospect Of closer
relationship with the Pennsylvania system
are factors which are attracting cspecIal
attention al this time
Locally, there is some indication Of %
revival Of activity I'm the iron stocks due
10 the weeks liberal booking Of profitable
orders for the new year. Yesterdays pur-
chase Of 2o.0oo shares OF Federal Steel pr,.-
ferred has already had a good effect on tho
market position of that property, and gives
added assurance Of the willingness on the
part of the larger interests to buy solely ON
the basis Of merit Such corporation
could not have been more opportuneIy ere.
ated, and dividends for the first three
months in 1889 are already discussed among
the certainties of the future Tennessee
Coal and Iron was in better demand than
LOT several weeks and showed A willingness
to advance.
Heretofore advances i'm these shares hay.,
beeh largely suggested by a desire to mar
ket considerable amount of long stock
Ihe present movement while not above IN.
influences common to the general market
looks less artificial than its immediate pre-
decesSorS
The coming week will include three
al IF D. If,h
nave more than a local influence on urtc.s
The Presidents message to Congress will be
read carefully as To at least three para
graphs. namely, the currency policy of the
administration. the so-called expansion pol
icy and the suggestions as to the inter
oceanic canal. All of these questions have
inseparably attached to them gigantic
questions of finance. In which all security
holders are more ar less Interested
The declaration Of the dividend on Amer
lean sugar is especially inter sting Is some
outline of the company's policy in relation
TO the trade war now going on is to hr px-
Dected. Recent buying of the stock has
been based on tn idea that the customary
) per cent will be PAID and that il not
actually earned for the current quarter
has been easily provided for by surpluses
during previous quarters.
The meeting of Atchisou directors Is also
a matter from which some enlightenment
as To the question of dividends on the pre-
ferTed stock is expected. The Pacific stocks
are held in check for the time being hy
continued reports of preparations for build
ing new lines into the Northwestern terri
tory. When ii is consid.red that tho con-
tempated building Is more of a prr-emu-
tion than traffic necessity. the disau-
pointme1t TO stockholders is entirely natu-
raj. In the case Of Union Pacific the pos
Sibie issue of some So .uunnpo in new COM
mon stock, to be exchanged for Oregon
Navigation. is deterrent influence.
The bank statement for the week reflects
a satisfactory but somewhat uninterestinE
condition. The deposits have increased St.
$4,000, which is about accounted for by
an increase in loans of ST. :Sl7 900 and q
slight gain in lawful money.