Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-12-02
Drop in B, and 0. Today, Due to Re-
cent Developments.
SHARP ADVANCE IN BURLINGTON
Good Undertone to Stocks Under
a Professional Demand.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK. December 1.-THE under
tone Of today's stock market was seuerail,
steady under a demand largely profess
sional London bought few stocks and
the continent sent over some biying orders
In Northern and Union Pacific The an
nual statement for the latter is semi-ofii-
cially announced to be quite up to expecta-
tions and the accumulation Of the stock Is
by interests identified with the property.
Baltimore and Ohio issues reflect a ten
dency toward profit taking now that the
recent mysterious advance has been eN-
planned. The best opinion OF the transac-
ton now is that traffic arrangement and
not consolidation was all tina; was either
attempted or accomplished. East-hound
rates charged by Baltimore and Ohio have
not always been satisfactory to the larger
eastern trunk lines. and the present com
pact is relied upon to accomplish the de-
sired end
Such agreements are almost always good
in prosperous tir when the capacity or
the roads in interest is being taxed to the
fullest extent This fact makes the mutual
pledges recently n ade by the larger eastern
lines especially encouraging. since prevailing
conditions are IN harmony with the under
taking.
The buying of Burlington attracted con-
sidera bile attention during the morning. the
forthcoming statement of earnings being
the basis for the new demand. The entire
granger group moved up in sympathy with
burlington. the demand attracting but
minimum supply Of stock. Pacific Maj
gave some evidence OF accumulation in an
ucipaticn Of early action on the subsidy
bill. The same incentive forced the price
of this stock Ip to ~ last winter, and the
better prospects of this season are attract
ing a considerable speculative following.
Sugar and Brooklyn Rapid Transit were
improved under covering demand from
the room. Gigantic consultations are ru-
mored in connection with the former prop
erty, but the situation has not yet been de-
veloped to the stage at which the conf
dence of the public is TO be employed
The Iron and Steel stocks have been well
sustained during the week and the possi-
bility of dividends for them without legal
Interference has inspired confidence In in
creased activity after the first OF the year.
The buying Of Colorado Fuel is said 70 in
dictate a plan for partial duplication Of
the recent achievement I'm Tennessee Coal
and Iron.
The bank statement was about up to gen
eral expectations, the gain Of 4,4l4.JD in
cash being slightly better than the esti-
mates made yesterday The loans have
been increased S5.523. 400. presumably on
account of Yesterdays interest REQUIRE
ments. The changes in the two Items are
covered by an Increase of $40, l2O.oO IA
the deposits. The reserve Is increased 10y
Sl,SS4.5oN. bringing the total surplus hold
ings up to SS.536, 200. The statement is n
good one in practically every respect the
Increase in loans being tribe larger than
was expected in view Of the general shift
ing Of such accommodations earlier I'm the
week.
Money is abundant al the moment. but
no such condition can prevail at this time
in conjunction with unusual speculation
in stocks.
The Addystou Pipe case and the Pres
ident's message are relied upon To furnish
the incentive to the early weeks market
Following is the bank statement. Re
serve, increase, 81, So. 500; loans increase.
S5523, 400; specie. increase, 81. 1903 900; egals,
increase sl.ll0.6oO; deposits. increase, S10.-
10000; circulation increase, 81, 300