The Washington times., 1901-11-22
LIVELY BOOM
IN LAKE SHORE. 81
Great Activity in Wander
bit Group.
TRACTION SHARES ALSO ADVANCE.
st. Paul and Northern Pacific Re
covering From Recent Depres-
sion - Talk of a metropolitan
Manhattan Deal Money Firm.

NEW YORK. Nov. 2l-Certain quarters
of the stock market today showed aggres-
sive strength. while price movements il
the general list were limited and irregu-
lar. The trading Was not in large vol
une. but interest was quite well diversi-
fed
At the opening Of business very irreg-
ular tcne was displayed, and soon after
the opening prices receded quite sharply,
particularly in the instances of st. Paul
and Union Pacific. With the course of
the morning however, the Vanderbilt
group of stocks developed conspicuous
strength and activity, and it was plainly
owing to the movement in this quarter
that the general recovery in prices en-
sued
Rise in Lake shore.
On very light transactions there was
spirited rise in Lake Shore stock, a move
ment which had been foreshadowed in the
quotations during the last few days. No
definite explanation could be obtained.
The dividends on the Vanderbilt stocks
will be acted upon next month and as re-
CARDS the movement in Lake Shore there
was divergence OF opinion as to whether
il fcreshadowed an advance in the rate of
dividend or whether il was ahead Of a
lump distribution Of the company's sur
plus. In either event. New York Central
would, Of course, be the chief beneficiary
as the holder of more than 80 per cent of
Lake Shore stock.
Less was heard today of the rumored
adjustment of the relations between the
Vanderbilt corporations, but c. c. c. and
St. Louis. Canada Southern. and the
Nickel Plate stocks were decidedly
strong Toward midday the local traction
shares developed increasing activity, with
a particularly rapid advance showing in
Manhattan Railway.
Traction Rumurs.
The movement in the latter stock was
attended by statements that close rela-
items between the Manhattan and the
Metropolitan street railway were being
formulated, and most CT these reports
were along the lines that the Metropoii-
tan would guarantee dividends on Man
haitian Railway on an initial scale Of
per cent to be increased subsequently to
5 per cent and finally TO per cent.
There were again fairly large dealings
in the anthracite coal stocks. with further
substantial gains appearing in the higher
priced shares Of this group.
As already noted, both 81. Paul and
Union Pacific we're sharply depressed Z
the early dealings. but subsequently botr
stocks found better support than they
have shown in a number Of days. Little
further attention appeared TO be paid to
rsraVr# &C.
the Northwestern States toward the for
nation Of the Northern Securities Com
paIy.
Spccia'tics Weak.
Few movements CT interest appeared
amcng either the Industrial stocks or the
speeialtios. Analgamatcd Copper, Ameri-
can Locomotive and Peoples Gas were
weak, but nothing further wss brought
out in connection viii the movements in
these stocks. 1t Was estimated that the
taxation OF the property Of the Peoples
Gas Company, if fixed upon tie recent
ruling Of the Illinois supreme Court, |
would require a sum equal TO 21-3 per
cent CT the company'5 net earnings, IN I
amount which would. OF course, virtually |
involve a reduction in the dividend rate |
but probably The last word has not been /
said even as yet IN tniG matter.
There was a particularly sharp advance |
in Consolidated Gas and American Car /
and Foundry. American Smelling and |
Tennessee Coal and Iron continued steady. !
The money market was comparatively |
easy throughout the day. with exceeding /
ly large C--crings on call around ~ per |
cent.
Money Firm.
Sterling exchange was firm at slight
decline from yesterdays level. and this,
together with the further reduction in the
price Of bar gold and coin at London, re-
duces the probs hility OF gold shipments to
Il at point On Saturday. London was
negligible factor in the days market.