Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-12-10
Stocks Were Very Much Stronger,
Compared With Saturday.
BANKS ON The BULL SIDE
Greatest Strength Manifested in
the lndustriaIs.
GENERAL MARKET REPOR rs


Special Dispatch to The Evening Star.
NEW YORK. December 1O-Increased
concern with the course of the money mar
ket and assurances from some conserya-
tive bankers that temporarily higher rates
should cause no alarm. resulted In a gen
eral rally in today's stock market
The short interest covered rather freely
and prices responded in a manner which in
dicated that the supply Of stocks seeking
a market had been reduced during the de-
cline of last week.
ments in London disclosed a short interest
at that center early cables from that side
rejecting gains of about y per cent
AS a direct result of money market assur-
ances, the steel stocks were active features
Of the trading at advancing prices Federal
steel issues were strong under good COM
mission house demand and the urgent COW
ering of a line of short stock
One rumor, which gained some prom
inence. credited the most prominent official
OF rival company with being short some
lo,OOO shares of Federal Steel common. The
rally in the stock did not suggest such a
condition. but appeared to be the natural
result Of early dividend prospects
Tennessee Coal and Iron rallied sharply
in sympathy with the movement in the
steel shares, but there was no new light on
the dividend prospects of the company
Officials Of the company We're reticent
concerning today's meeting of directors
and there Is effort being made to ex-
plain the recent weakness in the stock by
suggestions of a lack of harmony in the
board.
Colorado Fuel was strong on its new rail-
road contracts and its splendid record of
earnings for four months. The directors
of the American Steel and Wire Company
ordered the payment of the fourth INSTALL
ment of the per cent dividend declared on
the common stock last spring
This action leaves the future dividend
policy in as much doubt ever, and the
predicted changes in management at the
spring meeting are reasserted by represen-
tatives of the dissatisfied and undisclosed
minority
General Electric directors declared the
regular quarterly dividend of per cent on
the common stock and an extra dividend
payable January 10, thus making the full
payment for the year per cent.
The coal stocks were strong and active
under what seemed to be a good demand
from the long account
Reading issues We're in favor. the prefer
red stocks advancing under liberal transac-
tons. The investment buying Of Delaware
and Hudson on the outlook for increased
dividends has been q feature of the daily
trading In this group. Erie issues retained
the conspicuous position assumed last week
and the street inclines to the opinion that
surface indications warrant confidence in
increasing merit for this property
The Traction shares were stronger, and
talk of leases, consultations and increased
earnings is again heard.
1t Is quite reasonable to expect a public
announcement OF recent secret meetings
some time after the new year The Pacific
SHARES and the Changers gained few frac-
tons, but the demand decreased nottcea bIv
at the new prices. The entire market re-
lapsed into dullness during the afternoon.
ana 1t ls possible that such a condition will
De substituted for the more radical form Of
reaction. A reaction in the value Of bus
Ahess might avert reaction In prices