Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-11-28
FINANCE AND TRADE
Union Pacific Was Again Strong
Stock Feature.
METROPOLITAN ALSO IN DEMAND
Closing Hour Developed Strong
Buying in Whole LIST
GENERAL MARKET REPORT

Special Dispatch 10 The Evening Star
NEW YORK. November 2s.-openins
prices this morning were generally strong
and well shove the closing parity a. IN.
result Of increased activity I'm the London
market. The foreign buying OF the more
active tssles resulted In advances varying
from y 20 per cent and was inspired ~.
the better political outlook
Locally. the higher prices attracted som,
realizing. and upon the later announcement
that Spain had accepted the terms OF the
American offer. dullness. with a tendcnc,-
toward concessions. followed Toward the
close of tho noon hour strong influential
buying was developed and the hes, nrice.
of the day followed
The Pacific issues attracted the major
portion Of This demand. the buying of the
Zion Pacific issues being especially cor
hdcnt- Il was currently reported chat one
large interest rad marketed its holdings In
Northern Pacific and was reinvesting the
profits in tnion Pacific common. The plan
10 put tn preferred stock OF the latter COM
pany upon firm per cent basis is facfl-
itated by the discovery that considera bly,
more than that amount will be left TO be
applied 10 the common stock
The very important consideration Of pol
Icy comes TO the front whenever the In
Nestigaton of dividends on the common
stock is discussed. and the creation OF p
surplus fund always appeals strongly I"
nv hAAfd-toilN t-illbllftl fltment. Just how
Tar this factor may intervene to delay divi-
bends on the common stock is not known
out the figures Of recent statements will
serve to hold this stock firmly around pres
mt prices in the same manner as Northern
Pacihc has been strong upon the prospect
OF dividends which are known to have been
earned.
South rn issues were strong on buying Of
a good character, and Atchison was irregu-
lar under profit-taking on liberal line Of
sIo culative stock. This latter selling causes
no concern, however, since earnings have
begun To come III in excess of anticipat I'd
Results.
The demand for Metropolitan street rail-
way was again of the same persistent ma
ture which has heretofore marked the buy
ing of those shares. The earnings of this
company. aggregating something over sS.ega
per day i'm excess of last year. making
the stock scarce at current prices and in
creasing confidence I'm its investment char
acter. The recent reports of the probable
weakening i'm the bridge structure. owing
10 overcrowding We're used as a selling ar
eument in Brooklyn rapid transit for
time.
The room changed front several times
during the day. a circumstance worthy of
the present market is against lower prices
The buying demand invariably meets with
a ready response in prices. whereas selling
rarely accomplishes more than a decline Of
fractional proportions.
TIE sentiment of the more conservative
commission houses is I'm favor of cautious
discriminating buying on all declines. That
there is u Willingness on the part of the
street to follow this view was clearly dem
Cnstrated in the last hour. a general ad-
vance in all the active issues prevailing
during that period.