Evening star., 1900-12-29
London Unloaded American Stocks in
Big Blocks Today.
PRICES BROKE IN CONSEQUENCE
Good Commission House Buyinc
Restored Normal Conditions.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, December 2g.-Lower Lon
don prices, due to financial embarrass-
nents growing out of the collapse in West
Australian securities. resulted in a reaction
ary opening this morning. Foreign houses
sold upward of $1,000 shares, but the decline
brought in some good commissiou-h house
buying, and the closing was steady at gem
eral advances from the low level.
Disappointing earnings on Burlington
helped to depress prices for a time, but the
large interests came to the support of prices
ana under The leaaersnlp oI the n4gn-
priced shares sustained the entire marAeL
81. Paul was advanced to III undcr a
splendid demand, IN which investment or
ders were conspicuous. The pool bought
round amounts ana dividend of some de-
cided advant age Is expected shortly.
The alliance with Erie Is still a subject
of room gossip and a great mol, r,hNcS. .t rn
combination Is not considered improbable.
AS matter OF tact ST. Paul is earning
double the amount OF present dividends and
needs no new incentive to force il into its
proper place in the market. The rapid rise
has given it an advanced position with SUCH
Issues as Pennsylvania, New York Central
and Burlington. In spite OF its gain inside
interests have not sold any considerable
proportion of their speculative holdings.
The high-priced coal shares made further
gains. Delaware and Hudson and Lacka-
Wana making new records. The low
piiCeu members OF the coal group suffered
some from London's selling, but Erie ard
Reading recovered toward the end of the
session. The steel stocks were strong. and
some of the best speculative buying went
to this group.
Federal Steel common Is confidently
bt ught by houses in position to know
most about its earnings and prospects, and
the prediction is made that a dividend o.
30 per share Will be declared in lump sum
and that the stock will be officially put
upon per cent basis for the new year.
Colorado Fuel Is being accumulated upon
dividend assurances and friends of the
property predict a prosperous year as ths
result of contracts now in hand.
The week ends with strong faith in tho
future of the market expressed upon all
SIDES, and unless foreign money centers
should become involved the local ma arket
may redeem all of its earlier promises.
The bank statement was unusually con.
sistent and was accepted as entirely IA
vorable to the dominant market position
The gain In lawful money has been S5,1
SI5.1O0 or $5O0,OOO more than was exc
pected.
An increase of s9,35S. 500 in loans is not
lation in stocks and the usual borrow ng
demand incident to the close of the year.
AS a result of the changes noted the de-
posits are larger by Slo.3S4, 500 The net
result OF all changes is shown by IN.
crease of s., 2,02S.900 in the reserve bringing
the total surplus over legal requirements
up to 300. This showing shows the
banks to be quite strong enough to handlA
the present volume of business and VITA
every reason for expecting additional 70.
sources after the new year.