The Washington times., 1901-12-27
Government Bonds.

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! 7. 5. rs. {, lgco-S0, 2. J......... lu9S lUg'
/ 4. S. 3's. X. 1905, q. f............ ltsB l0g
| L. s. SIS, r. 1905 r. C............ Len l0l
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| L. 5 IS, 1901, Q. J............... ii2h il3l
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| u. S. 49, c, la25................... i3als lR
| L. s. 5's. X. 1904. lOf< lUsA
| &. s. IS c. 1904. q. F............. iosi4 80.
The first street explanation of the hi:
| boom in stocks yesterday was that 0n'
or two of the market leaders, and Mr.
Keene conspicuously. were squeezing thu
| shorts for u turn AS the upward
movement grew stronger. however, to.
ward the close Of the day and ended iT
something very like n sensational burst
| of strength, there was a disposition tC
look for something more important thar
simple professional market turn.
Perhaps the most satisfactory explana-
tion of the daS is that the leaders con
sldered the time ripe TO push up prices
in expectation Of the investment demand
of the new year. They were, of course
helped in their operations by the cover
ing of shorts in many securities where
the short interest has been particularly
insistent recently. Also it is probable
that some investment buying took place
in advance Of the January disbursements.
General News Favorable.
There was no important news during the
day that might have acted as spur TO
the market Money was fairly easy. bur
not remarkably so. Nothing fresh in the
Copper and Sugar situations developed.
except a rumoT that the Sugar Trust and
the independent rehners have settled their
differences. which did not attract any at
Ta1l ,f a..
was most optimistic, but this is no new
thing. II should be pointed out. however,
that there was nothing bad in the news
either, and that the general business stu
alton, aside from The money market has
heen favorable to 4 strong market for
some time.
Sugar In Its oId-Timc Form.
Sugar was the sensation Of the day and
its sensatlonalism was of the kind that
used to make Sugar famous a few years
ago The st ock opened weak. and rumor-
that II would be a second Amaleamated
Copper, selling q long way below par,
we're heard on every side. When these
bear suggestions were al their climax the
stock began to advance and 1t continued
TO do so all day, closing ten points above
its low price for the day. and with ret
gain OF nearly as much The advance Of
the stock was even more rapid than the
break Of Monday and Tuesday. Thou
sands Of shares changed hands in blocks
all day long, and the close was the strong
est period Of the session. The fright OF
the shorts was more acute than the terror
OF the longs was last Tuesday.
The Tumor that the trust has settled its
alleged difficulties with the independent
rqFpa-g ft-ae no 1.r
serve as a reason for the boom in the
stock. The old story has served the same
purpose for many year and seems hardly
worth repetition. For one thing there is
an objection TO the story on the ground
that ii is by no means certain that there
is any fight among the Sugar people
There are careful market and trade crit
les that assert all the time that the most
perfect harmony exists. These people say
the break in the stock has been an engi-
neered one entirely, and they cite the
sharp advance Of yesterday as excellent
correlative evidence of this.
Copper Is Also strong.
Amalgamsted Copper was also very
strong yesterday. Some people suggest
that the strength Of these two securities
and OF ST. Paul is an evidence that the
Standard Oil people have made turn and
are now on the bull side Of the market.
The theory is interesting at any rate.
There have been many Indications Of late
that this clique was operating on the bear
side and did not wish to see the market
advance.
smeiters the Weak Feature.
One stock was conspicuous by it's com
parative weakness in the general advance
of prices. "smelters' began to break in
the early morning and lost two points or
more. Later it recovered somewhat with
the genera. market, but it was at all
times a weak feature. II was said that
Mr.. Keene was q seller OF this stock while
he was buying many others. and was, in
deed, one of the chief factors in engineer
ing the boom.
The reason alleged fjr the weakness OF
the stock was the unsatisfactory condi-
tion OF the silver and lead markets, which
Il was said are in about the same cOndi
tlon as the copper market.
An Expert On Coal Trade Prosperity
The buying in the coal securities was
most prominent though the advances In
these stocks. while large, we're not as SEN
sational as those in some other parts OF
The market. Mr.. Keene was undoubtedly
a buyer Of large blocks of the Readings,
and Il is said that the investment demand
for the group generally was conspicuous.
Reading first preferred advanced more
than IL has in one day for many weeks.
and the common was nearly as buoyant
The Eries were also strong and Jersey
Central was jumped more than two points.
The soft coalers also were conspicuous.
with Hooking Valley the chief feature.
An article In the Coal Trade Journal
has caused much comment. II is pointed
out by this authority that the past year
has been The most extraordinary in ths
history of the trade with immense pro
ductions and at the same time a demand
that could hardly be filled. and with tn
highest pr.ces for many years as Il cen
sequence. st the present time. IL is said.
the supply Of coal Is very small
1t should be noted that the Reading
statement is expected on any dag and that
II viii show the largest earnings IN IN
history of the company for any one month
The other anthracite reports will be Is
sued In a few days.
lee Trust 10 Go Into Conf.
The American Ice Trust is going int
the coal business. Already In n numb-e
Of cities IL is in the business but its FIR
large move IL now TO be made by the In
corporation of the American Coal Com
pany in New York The company will use
it's immense plant In summer 70 haul ic7
and In winter TO move coal, and con
spicuous saving Will thus be effected "a
would seem reasonable 10 suppose.
The company Will begin the publication