Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-02-20
Improved Demand for the Better
Known Railway Shares.
LOV-PRICED STOCKS PREFERRED
American Sugar, However, Was
Raided Again by the Bears.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, February 20-The early
market this morning reflected some irregu-
larfty, but, in the main, showed an improv-
ed demand for the better known issues
The coal stocks were in good demand as
the result Of improved earnings, the in
creased demand for the product and the
predicted benefits to be derived from the
new interests in the arrangements.
Southern properties attracted new busi-
ness because of splendid increases in earn
ings and the prospects for business re-
vival in that section.
Throughout the south the standard of
railroad efficiency is being raised. and the
roads are working in harmony with their
eastern trunk line connections. Capital is
being slowly but confidently drawn to
southern issues. because of the multiply
ing evidences of an intelligent handling Of
present opportunities.
Baltimore and Ohio issues are still in
good demand, the bonds and preferred stock
having slight preference.
The common stock is one concerning
which the most hopeful predictions are
made. 1t has future which will be de-
veloped along the enduring lines of merit
and intrinsic value, but 1t enjoys the pres
ent Endorsement of strong financial clique
which is predicting a movement which will
make it cross the preferred For this rea-
son the failure to declare dividend on 1t
a few days ago disappointed the small
holders only.
The demand for Norfolk and Western
preferred Was rather pronounced during
the morning and the common shares with
stood realizing sales most credftably Union
Pacific was bought quietly throughout the
day and without any effort to force the
movement The higher priced shares were
IN moderate demand and were held firmly
under small offerings.
Third Avenue Street railway was a CON-
spicuouS exception to the general strength
of the market. An emphatic reputation of
the rumorS relative to it's being absorbed
by metropolitan and an equally emphatic
denial of any interest in its welfare from
an operator credited with seeking to i'm
prove its price, forced 1T down sharply on
noon offerings. Episodes of this character
reflect upon the sentiment of the street, IL
not upon innocent rival issues.
American Sugar sold down during the
morning under repeated rumors of a certain
change in the April dividend rate Offers to
sell the next dividend at a considerable re-
duction from the per cent rate have i'm
pressed few traders more than President
HaVemeyer'S speech at the annual meeting
The industrial list was decidedly irregular
ouflnS the entire day, fact about equally
attriputable to the professional character
OF the dealings and the hesitancy of in
Vestors. There can be no doubt that the
Steel stocks and other industrial properties
could be made active We're the banks dis
posed to encourage the natural tendencies
OF their clients. Instead of this, however.
bankers caution would-be buyers and insist
upon their waiting until the properties have
SHOWN more than temporary successes.
Money was In good supply at all times
was small.