Evening star., 1901-12-30
Stocks Were Irregular and Money
Rates Reached IL Per Cent
STRONG DEMAND FOR READING
Rumors of a Connection With the
Gould System.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK. December 30.-Today's
stock market was inclined to be Irregular
under a fair volume Of mixed business.
Traders were again strongly Of the opinion
that the market should have a set back over
the first of the year as result OF the In
creased demand for money. The call rate
got up to IL per cent at one time during
the morning. but beyond a very moderate
reaction in the specialtles the general mar
ket disregarded the incident.
Bankers predicted slight furry, but
were confident that no concern need be
had, since abundant funds were assured af-
ter January Is.
In commission house circles sentiment was
strongly optimistic, and an active and
higher market was predicted during the
first quarter of the new year. This feeling
OF confidence reflects a single strain OF con-
cern, namely, the awkward possibilities of
Germany's Intervention in South America.
Stripped OF political contingencies the
general market outlook is almost unani-
mously regarded as promising.
The buying of Reading issues on a large
scale. particularly the common stock. was
again a feature of the market a new high
record being established during the after
noon. Earnings are urged in explanation
of this demand, but the street sees some
tnlng more than the pronts on coal behind
the present buying.
Jersey Central sold up under small deal
fngs, and all the higher-priced coal shares
were firm. Erie and Ontario and Western
failed to get into the swing OF the advance.
although some good buying of saese issues
was reported.
Gould stocks were strong under what
was said to be an inside demand. Early IN
the day Missouri Pacific was heralded as a
candidate for a material advance. and some
round amounts OF stock changed hands
around 107.
From this point a decline OF 1 per cent
inside demand. The chief interest IN Gould
stocks now centers In the plans for getting
Wabash from Pittsburg to the seaboard.
The activity in Reading is thought in some
quarters to have bearing this point
Rock Island was strong and more active
than at any time recently under a demand
In which western houses were conspicuous
St Paul and the Pacific stocks were
steady to strong, but Union Pacific seemed
to be neglected by inside interests The
attack upon Hooking Valley in the Ohio
courts was reflected by a moderate selling
movement. and the legal steps against Ana
Amalgamated The prospects of new cut
ting In the selling price of the product were
canvassed, but the price reflected a good
demand around the low level.
The traction stocks were irregular. but
the buying of all the better known steel
and iron shares was called good. Numer-
Gus low-priced issues made advances un-
der cover of the general strength.
The last hour was one of the most ac-
tive Of the day. a vigorous buying move
ment In Reading common forcing the price
up to a new high level
The advance during this period was by
no means uniform. Under cover of the
strength In the coal stocks there was a
considerable shifting of accounts, low
priced shares being bought and high-priced
shares sold on the theory that any revival
Of business would go first into the former,