Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-12-31
The Stock Market Showed Great
Buoyancy Again Today.
RAILROAD SHARES In DEMAND
Heavy Purchases of Erie-Sugar
in Favor Again.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
| NEW YORK, December 31.-Contrary to
| reasonable expectation the local stock mar
| ket ignored the London failures, and after
| the first hour ran into the most buoyalt
demand of the season. London gradually
steadied and closed with frmer tone.
alth nigh the American department was de-
| cidedly irregular
| Strong interests paid little heed 10 the
early efforts to take profits, and bought
| moderately without seeking to discourage
the selling. Toward the noon hour, how
| ever, the buying became aggressive, eni
many new high records were made.
The recent neglect of the Erie issues
| gave way to pronounced demand in their
favor. the first preferred shares gaining :
per cent under splendid demand. The
second preferred came in for considerable
activity and the common moved UP about
z per cent. There is evidently something
more in store for Erie than a mere settle
| ment of the coal situation, and gossip tends
to the view that st. Paul and Northern Pa
cffic are to come into closer relations with
this eastern trunk line. In any event the
buying of all these issues Is of the best and
barring accident. is expected to be the fea-
ture Of the early part Of the new year.
The Vanderbilt issues are acting in n
manner which inspires confidence In new
developments of important character
especially the Nickel Plate issues. The en-
liie IdiTodQ group, Wnlle lacking uni
formity of movement. and being irregular
In the volume of business accorded the
various shares is still regarded as being
strong and likely to hold well. A sharp ad-
vance In pennsylvania was taken to be an
encouraging sign, and the various issues
identified with that property were well
bought
The buying Of American Sugar forced a
substantial rise in price and much was
heard of an early announcement of the set
tlement or the trade war. The buying was
Tor round amounts. and the pool seemed to
De getting plenty of help from the inside
should present predictions be verified the
stock will again assume its od-time place
we'll In the front Of the Industrial depart.
ment, II not of the entire market.
The tagging tendency of the steel shares
Is variously construed. but the best opin-
ion seems to be that they are being accr-
mulated for speculative purposes.
Trade reports show the iron and steel
industry to be IN a stronger position than
at any time since the readjustment of
year or more ago. If anything is to be
made of the opportunity for advancing
these issues the dividend action to be
taken next month should mark the date
Federal Steel and National Tube are the =
partment, as a WHOLE may be expected to
participate in a period of activity similar
to that now in progress in the railroad list.
The releasing of funds after tomorrow on
account of the half yearly disbursements
may furnish the incentive to new de-
mand. 1t is worthy OF note. however that
interests having money due around the
and let their brokers carry them until theyA
can take them up. 1t sometimes happens
that the expected new money is used for
CID debts and not for new enterprises.