Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-01-06
FINANCE AND TRADE
Decidededly Buoyant Feeling in Stock
Market Today.
DUE TO THE SITUATION ABROAD
High Priced Securities and New
York Traction in Demand.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch TO The Evening Star
NEW YORK. January 6-The more pa
cine outlook in Chinese waters and easier
money combined in producing an undertone
OF bucyancy I'm the London stock market
this morning. As the result of this hopeful
change in sentiment, the foreign market for
American securities was improved to the
extent Of u OF l per cent
Opening prices on this side were all con-
siderably higher than the final figures of
yesterday. and both the volume and char
acter of the business reflected improve
nent The demand from commission houses
was increased and the covering of short
sales by traders was extended to liberal
proportions
The Vanderbilt issues. particularly New
York Central and Lake Shore, were prom
lnent features of the legitimate demand.
The funding scheme of the former proper.y
Is being pushed forward rapidly aud the
Stock Is attracting renewed interest in
consequence Of increasing proba bilities for
more liberal participation in the earnings
of the road.
The demand for securities Of this merit
had most helpful influence on the general
list, because of the surface evidence OF
awakening interest on the part Of capital.
The demand for hfgh-priced shares in the
face of recognized Improvement i'm the
main situation can have but one interpre-
tation, and that the most significant.
ne real owners OF STOCKS are again max
ing quotations for their holdings, instead
of the gambling element, which has been
masquerading in this character during the
holiday dullness. The street is filled with
operators who consider the present level
as FULLY equal to the merits of the situation
but operations in the short account. on this
theory. have been disastrous in their re-
suits.
Buying is noted in some quarters solely
because OF recent defeats in making an
impression IN the opposite direction. The
granger shares reflected the latter condi-
ton very radically, recent sellers buying
back short stock and taking an equal risk
IN the other account. Burlington was a
feature OF the trading in the latter group,
seIliDg up over par, and being well sup
ported around its best level
The local Traction shares were in good
demand, but were less conspicuous by rea-
son of the better distribution of business.
Metropolitan advanced under a good COM
mission house demand and Brooklyn Rapid
Transit reached a lew level under con-
tinued buying for pool account. This en-
tire group of municipal railways is well
sustained and finds confident purchases on
every commission.
The intermingling of politics and merit 10
so adroitly managed by the Traction inter.
ests that the argument seems to hinge en-.
tirely on the latter
American Sugar was again strong and res
fiected better buying than could have come
from either inexperienced or inconsequen-
showed unmistakabe signs of an improvs
ing demand.
The trading during the late afternoon
was especially confident but the period OF
dullness increased somewhat. Prices wer<
well supported around the best level fol
the day, and the commission demand wa3
credited with considerable proportion Of
the business.