The Washington times., 1901-12-19
General Advances Scored in
Stock Market.
COPPER CONTINUES TO FLUCTUATE.
Money Easy, in Spite of Various
Apprehensions - Sharp Demand
for Delaware and Hudson-New
York fractions Active-St. Paul
and Union Pacific Lead Railways

NEW YORK. Dec. 1s.-The strong tone
that characterized the dealings in stocks
at the close of business yesterday, was
renewed this morning and with the course
Of the business session a number of ex-
tensive advances were scored. Apart from
the somewhat Unexpectedly easy condi-
tions which prevailed in the money
market. there was little or nothing aside
from technical conditions to which the
tendency of the market could be referred.
Borrowers generally seemed to expect
that the heavy payments against GER
tain large particular transactions. notably
in Illinois Central, would unsettle the
money market and they hesitated TO OBJ
tain the Accommodations they required
early in the day. Notwithstanding the
circumstances, by far the greater bulk
of the borrowing was arranged for well
under { per cent.
Foreign Houses Buyers.
In addition TO the favorable influence
of the money market, London sent in
much higher range of prices for Ameri-
can stocks, and during the afternoon
foreign houses were buyers here to the
extent of 15,OGO or O,OOO shares OF vari-
GUS stocks.
The general market showed further evil
dences of cutting away from Amalga-
mated Copper. The fluctuations in that
stock again covered an exceedingly wide
range OF prices and. as was 10 be ez-
pected, conjecture was exceedingly active
in regard to the rate Of dividend TO be
declared at tomorrow's meeting OF the
directors.
The bulk of opinion was still strongly
toward the declaration of quarterly
dividend of / per cent, although. as has
been the case all along. other estimates
were current and received more or less
crcGence.
An Investment Demand.
Technically considered, the dealings
showed quite heavy covering OF short con-
tracts. but on the other hand, conserva-
tive commission houses reported fair
demand for the higher grade OF stocks,
and the greater part OF the days most ex-
tensive movements were scored in these
issues.
particularly sharp advance in Della
ware and Hudson was accompanied by
reports that the dividend for the ensuing
basis. No news or gossip OF interest at
tended the movements elsewhere in the
stocks OF this grade. but the strength OF
Delaware and Hudson and Lackawanna
Was reflected in minor advances in the
lower-priced anthracite stocks, such as
Erie and the Readings.
other firm features of the railway list
were New York Central. Rock Island
Southern Pacific, and the St Louis and
San Francisco stocks. The leaders OF the
railway list in respect OF strength and
activity were St Paul and Union Pa
clflc. and the old-time rumors linking
these properties together were promptly
revived.
Traction stocks Firm.
The local traction stocks were gen
orally firm under the lead Of Manhattan
Railway. and a fair degree of strength ex-
isted in the industrial quarter, where the
American Cotton Oil stocks were the /
particular feature in a very sharp ad-
vance.
Great steadiness prevailed among the |
so-called specialties, apart from Alaalga-
mated Copper, especially in the cases OF
Colorado Fuel and Iron. General Electric
and Tennessee Coal and Iron