The times. [volume] (Washington [D.C.]) 1897-1901, 1900-12-11

NEW YORK. Dec. notwithstanding
that the actual conditions in today's call
loan money market were more active and
stringent than they were at any time last
week, the stock market had a distinct and
fairly common tendency toward improve
ment. 1t seemed to be the common opin-
ion that the conditions disclosed in Sat
urday's bank statement represented the
virtual elimination Of those tendencies
which have been working against the local
money market.
Early in next week substantial relief
will be afforded by the Treasury pay
ments on account Of the anticipation of
the interest on the Government debt La
turing January i, and II seems fairly GER
tain that last weeks heavy currency
shipments will not be repeated. At any
rate. the disposition was general to re-
gard the monetary outlook with more
confidence and it was mainly on this ac-
count that today's dealings showed u
firm tone.
At the opening of business speculative
sentiment was encouraged by the advance
in the London market for American
stocks. and foreign houses appeared on
the buying side, notably in ST. Paul Their
total purchases on balance amounted only
to about 5000 shares of stocks, but with
the more cheerful speculative sentiment
prevailing the disposition of the foreign
dealings counted for a great deal in shap-
ing sentiment.
Apart from the considerations upon the
state Of the money market there was
nothing of general Importance holding
elements of novelty that engaged atten-
tion at the opening OF business or with the
course of the days session. Comparative
ly few statements of railway traffic were
submitted and there was little other rou-
tine news of any consequence. The threat
ened labor troubles on the Atchison sys-
TEN caused those stocks to move con-
trary to the general tendency upon the
opening but they subsequently recovered
a good part Of their early loss.
Active interest in the market was chiefly
expressed in the industrial quarter and in
the local traction shares. All of the steel
industrials, with the exception Of Ameri-
can Steel and Wire, advanced very sharply
on heavy dealings. The stocks of the gen.
eral class OF American Steel Hoop. the Tin
Plate, and National Steel were conspicu-
ously strong, and there WAS also a notable
advance in Federal Steel. The dealings in
and the course OF the stocks in question
appeared TO be based altogether upon pre-
vailing ideas In regard to the dividends
10 be declared on them within the next
few weeks.
Sugar Refining, which was notably strong
and active. advanced, presumably on the
higher quotations for refined sugars fixed
by the National Company. An over
extended short interest in the case Of
Sugar Refining, and its natural timidty, is
increased by the apprehension that at some
future time the management may see fit
TO declare the extra dividend. the absence
Of which created 30 much CONSERVATION
last week.
Tie sharp advances in Colorado Fuel
and Iron and Tennessee Coal and Iron
we're due, respectively to the exceedingly
strong showing made by the first named
IN its statement.
No particular gossip appeared to attend
the pronounced advances in the local
traction shares. The idea still prevails
that important changes In the manage
nent of the Brooklyn Rapid Transit Com
pany may soon be announced, together
with some alteration in the personnel of
the company's directorate. Despite the
preponderating interest expressed in the
Industrial and local traction shares, the
railway list was by NO means neglected,
and for the most part II was decidedly
strong Conspicuous features we're South
ern Pacific, Northern Pacific, and sc. Paul,
the Erie shares, and Reading. Pennsylva-
MIA was notably strong also, and New
York Central. while quiet. was firm.