Evening star., 1901-12-04
Advance in Manhattan the Feature
in Stocks Today.
COPPER WAS NEGLECTED
Talk of a Southwestern Merger
Causes Slight Furry.
GENERAL MARKET REPORTS
'pecial Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. December 4-The conserva-
tive tone of the Presidents message ana
the favorable comment made thereon re-
suited In a more cheerful view Of the mar
ket outlook. London did almost nothing
in the market. the total dealings tracable
to that center aggregating less than 2.Su
shares. Activity on the part of the various
pools and a disposition to cover outstand-
ing short contracts, particularly on the
part or western operators, resulted In
higher prices toward noon.
An effort to iift the general market above
the influence of Amalgamated Copper was
moderately successful and the railway list
scored several substantial gains while Cop-
per remained about steady at 72L TO a..
The fact that the steady selling of Copper
gave way to a moderate covering move
ment was somewhat encouraging and the
opinion was expressed that the turn was In
sight.
In commission house circles. however
there was little willingness to have clients
buy copper, the preference for railroad
stocks being decided on the theory that
such stocks would profit most by the cessa-
tion OF the selling in Amalgamated An
advance Of per cent in Manhattan was a
feature OF the day and helped TO improve
the level of the entire market
A prominent operator is said to have dis
covered an opportunity for making this
stock scarce and forcing in a rather stub
born short interest. Some profir,taking
was In progress at the advance. but the
demand was called good. in spite OF the
selling. Later IN the day a short Interest
in Brooklyn Rapid Transit became ner-
vous and finally covered at advancing
prices
Good buying of New York Central was
noted toward midday, and was accom-
panied by rumors of an increased dividend
although there was some difference of
opinion on this point. Pennsylvania was
strong under a splendid demand and all OF
its affiliated properties reflected a better
tone.
The buying of Rock Island and Atchison
gave rise to some interesting rumors rela-
tive to a new plan of merger in the south
west. A western short. Interest helped to
advance the price of both by a sudden de-
termination to cover outstanding contracts
Union Pacific and st. Paul responded rather
feebly to the new sentiment, IL being evi-
dent that the fate of the Mort hern Sureties
Company hangs heavy upon the two issues
named 80 .
The so-caIled Gould stocks were especial
ly strong, the buying of Wabash and Mis-
souri, Pacific being among the more promi-
nent features of the days business. There
was no really new incentive to the demand
In this group, the buying merely rejecting
the change in professional sentiment. The
coal stocks were given better support than
at, any time in several days. but there Was
rather good selling In this group at the top
prices.
American Locomotive showed signs of
increased activity on the part OF the pool I'm
those shares. and the buying OF the steel
stocks was said to be moderately good in
character.
The advance in today's market had little
that was convincing I'm the way of incentive
behind IL. The predicted outflow OF gold
by tomorrows steamers failed to materi-
alize. and this fact helped sentiment. but
general conditions are not more promising
than yesterday.
The basis for big market is lacking and
public interest is not likely contribution
to any advance which may be undertaken
during the present year The natural ten
dency is toward dullness with the OCCASION
al advance. in certain specialties due to
early information as to plans which will
be disclosed to the public at some higher
market level.