Evening star., 1901-11-23
The Advance in Southern Was a
Feature in Stocks.
INDUSfRIALS HELD THEIR OWN
Bank Statement Was Favorable
and Gave Strength.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star.
NEW YORK. November 23-The trading
in this mornings stock market reflected no
material change In conditions. traders and
pools advancing certain speciaities, while
realizing sales were going on elsewhere
The volume of commission house buying
was not large, but there was confident talk
OF higher prices in certain stocks which
have been more or less OF a feature during
the present week. The buying Of New
York Central was again a feature of the
day. the price getting up to l7o under
splendid demand.
The extra disbursement on Lake Shore IL
urged IN explanation OF Centrals strength,
and there is always the attractive posi-
pility OF Vanderbilt holding company to
inspire interest in that group OF securities.
headNng was advanced to a new high level
under a spirited demand from the source
previously noted as leading this movement.
Delaware and Hudson gained about / per
cent. and the other members OF the hard
coal group were steady under limited deal
ings.
Norfolk and Western advanced easily un-
der a considerable demand attracted by
further evidences Of prosperity among the
soft-coal roads.
Southern. common and preferred ad-
vanced sharply at one time, and again
there were confident rumors as to the pros
poets for putting the preferred stock upon
its full per cent basis at the next diyi-
dend meeting. Kansas City Southern secur-
tiles were marked up under the influence or
rumors predicting important inside develop
ments in the near future.
The shares interested in the new railroad
merger In the northwest were steady under
a fair volume OF business and less prom
inence was given the attitude OF the several
states against the project. This hostility Is
sponsible for the success of the transaction
clearly appreciate the fact. Already resig-
nations from certain corporations are in
progress in the hope that change In the
personnel may overcome the drawbacks In
the letter. II not in the spirit, OF the law
which bars the completion of the enterprise.
Details are being carried out. however.
and the promoters Of the Northern Securi-
ties Company are busily engaged upon their
plan. Northern Pacific preferred stock Is
being quietly surrendered for cash In an
tfcipation of its being formally retired jan
uary l. This transaction indicates a pur-
pose to take advantage Of the plan as out
lined in every way possible before either
legal or legislative steps are taken 10
dwarf its far-reaching consequences.
Amalgamated Copper was attacked sud
denly during the second hour under
rumors OF unfavorable action to be
brought against II by government officials
/ lowed traders to depress the price rather
easily, as there was no support from the
inside.
Industrial securities are holding remark
opis wen IN spite OF tne 1act tnat the
sembling Of Congress is generally regard
ed as menace to this group
There are numerous plans for the de-
yelopment OF certain issues IN this group
which lead to rumors of much higher
prices Conservative commission houses
! show marked disinclination to encourage
new risks in the industrial department un-
I'll after the presidential message is given
out.
The bank statement was decidedly fav-
orable from the street standpoint and con-
siderably better than was indicated by yes
terdays estimates. The banks have gain
ed S11O1.400 In cash In spite of the gold
shipments, and the loans have decreased
SIS. .5O4 400
Deposits are less by s13I18.sOO. calling
for less reserve. so that the surplus reserve
fs Increased 81. 1888, 100. or to a total Of &l4-
4s6.92S. This showing Is ENCOURAGING to
borrowers. and IT may be that the gains
viii be increased during the coming week
The season Is one usually regarded as un-
favorable to an advancing market What
ever activity comes into the daily trading
during the balance OF the year 10 likely TO
come from the professional element or from
realizing by pools over the 1st OF January