Evening star., 1901-12-13

FINANCE AND TRADE
Rather Better Feeling Noted in
Stocks Today.
GOOD B1YlM OF WESTERNS
Amalgamaed opper Was Weak
and Ig1 1eular Again.
General MARKET REPORTS
GENERAL MRKEr REPORTS
Special Dispatch to & 4As Esensas Star.


Special Dispatch to The Eventng Star.
NEW YORK. Dseember 13.-Ths recov-
cry In prices which sst in toward the close
OF yesterdays session was resumed this
morning and faiEty well sustained through
out the day. Money came in in round
amounts at per cent and the banks
were Offering a considerable supply at 9.
condition which encouraged short cover
ing and withholding OF selling orders.
The railroad Hat responded easily to the
changed sentiment, and the best prices re-
corded in severed days were made during
the early afternoon.
The outlook for tomorrow's bank state
ment is not encouraging since the known
movement of money has resulted in a loss
Of more than $6.o00,0o0 to the local banks.
In addition to this there Is the withdrawal
of $50OOO0 gold for export, which was made
several days in advance. and will show in
the statement In spite Of the fact that 1t
has not yet beer shipped.
Liquidation has been the only feature Of
the week contributing to a better banking
situation. A decrease in loans and the
usual reflection Of such action in the de-
posts would save the reserve from annihi-
lat1on, and that is about all that can be
expected at this time.
western houses were disposed to cover
short contracts in st. Paul, Union Pacific
and Southern Pacific. Rumors Of a bright
er outlook for the Northern Securities
company were to be heard the larger inter-
ests in that undertaking being unusually
Sangufne aof success,
Th1s outlook had its effect on sent iment
ana. ana heiped s to cYrtail the volume Of the
seinng. The buying was not of a character
which Indicated an incoming Of any new
business, the prospects for rally being
the only incentive. An irregular market
cannot be avoided during the evening up
a oord
Is usually made no matter how satisfactory
the market may be at bottom.
Amalgamated Copper was less active than
usual, but failed to hold It's occasional
spurts Of strength. The dividend question
Will come up within a week and the street
expects considerable demonstration prior
to and Immediately following the announce
ment The whole market, consequently
has an erratic money market and an er-
ratio Industrial! situation to contend with
for the next few days.
Southern Railway and Wabash issues
found a ready market and gave evidence
of strong support. Developments of pro-
nounced character, are expected In both
once the financial atmosphere clears suffi-
cientiy for: new undertakings. The Coal
stocks improved moderately under a de-.
mand which came, principally from inter-
ests previously noted as sellers
me steel shares recovered slightly also,
but the buying In them was not especially
slgn1ncant. A steady demand for Ameri-
can Smelling has been noted for several
days. and the sources Of the buying seem
to be close to the management.
The Traction shares recovered in SYM
pathy with the general market, but there
was nothingFnew Upon which to base new
buying a,+, ms
The market .relapsed into dullness during
the last hour,i but prices held WELL in spite
Of the lack of business. Money was Of
fered down to 4 per cent during this period.
The rally today is chiefly ENCOURAGING be-
cause rejecting ansSabsence OF any scare
upon the part Of holders of long stocks
Such q condition Should contribute to a
dull but well-supperted market at any con-
cessions from the weeks low levels