Evening star., 1901-12-18
FINANCE AND TRADE
Better Prices in Stocks Caused by
Easier Money.
SHORTS FORCED 10 COVER
AmaIgamated Copper Continues to
Be in Disfavor.
GENERAL MARKET REPORTS
pecial Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, December 1S-Trading in
today's stock market reflected an improved
tone and prices were advanced in nearly all
parts of the list. London sent over q
higher range of prices and there was some
buying credited to that center. but not in
volume sufficient to influence the local mar
ket.
An easier tone In the money market was
mainly responsible for the advance in
prices. but considerable demand was cred
ited to the short interest
The buying by representatives Of banking
interests yesterday was taken to indicate a
more cheerful outlook for the call money
market and traders covered freely in con-
sequence. This covering movement forced a
sharp rally in the active issues. but in con-
servative commission house circles II was
said that there had been no radical change
in underlying conditions. The effort to
hold the market steady Is meeting with
some success and there is little desire for
more.
The banking interests are said to be pre-
pairing for an aggressive movement early in
the new year and some of the present buy
ing is part of that plan. There is no public
interest as yet and professional trading re-
fleets an indecision which suggests consid-
cradle irregularity in the near future.
The buying of Union and South Pacific
was one OF the FEATURES or tooayS market,
both stocks rallying easily under orders
credited to inside interests.
The long-delayed report of the first
named property is said to show splendid
earnings, and the advance is a reflection
or this exhibit. Southern Pacific is doing
well In the matter of earnings, and predic-
tions are made that it will sell materially
higher under the prospect of early divi-
dends. The buying of Southern common
and preferred was called good. but there
was some profit taking at the advance,
which forced a reaction.
st. Paul, Atchison and the Gould group
reflected a mixed demand which kept prices
strong during the first half of the day The
announcement that Amalgamated Copper
interests had changed front and had COW
normal market for those shares, but there
was no material advance in price.
The United Metals Selling Company post
ed notice of a further reduction in numerous
grades of copper, and the trade predicts q
further decline before the exact status of
dend action should be taken tomorrow and
some market demonstration is likely A
circular in defense of the Amalgamated
Company was given out during the day, but
had little effect.
The paternal attitude of Mr.. John D.
rockefeller was not regarded seriously in
the street. since the waywardness was re-
buked too long after the original offense.
There was good buying of American Smelt-
ing In spite of the lower prices for lead,
ana the Steel stocks reflected good mar
ket at going prices. Manhattan was sold
down rather sharply during the afternoon,
and the entire traction group became ir-
regular. With the exception OF the money
market there is little that is unfavorable
in the routine condition Of the street Dull
ness Is to be expected until January dis
bursements and a less urgent demand for
money come to the relief of the situation