The Washington times., 1901-11-28

NEW YORK Nov. 21.-The stock mar
ket today was comparatively dull, and its
superficial tone was irregular. but there
was a pronounced underlying tendency
toward Improvement There were no de-
velopments which could be brought up IL
connection with ae- of the various and
more or less Insignificant swings in
prices.
Buying AmnIEamated Copper.
Probably the seeming check to the al
most uninterrupted and serious decline in
Amalgamated Copper might be cited as
one of the most effective factors in such
strength as the market occasionally dis
played. but at the same time, there was
nothing new bearing upon the Copper sit
uation, or upon the status Of the stock it
self There was, however heavy buying
of Amalcamated Copper, apparently for
the account of the same parties who have
for some time been selling it in large
volume, and with great confidence, and
tlis technical change may perhaps be ac-
counted as a sufficient explanation of the
reversal OF the market tendency Of the
stock.
The Vanderbilt shares, including New
y
although in view Of the severe disappoint-
ment that uniformed Spectators had ex-
perienced ! at the management did not
after yesterdays meetings, forthwith
take the public into their confidence re-
garding their future plans, all Of the Van
derhilt stocks might be described as COM
paratiyely firm. Interest. however, shift
ed today 10 other quarters Of the mar
ket.
Dealings in Southern HALLWAY.
There were very heavy dealings in the
Southern Railway shares and both com
mon and preferred scored material ad-
vances. Apart from the general eXpecta-
tions that the preferred stock will. in the
spring, be placed upon a five per cent
basis which is the limit of the divi-
dsnds to which it is entitled, together
with the abundant prosperity of the COM
pany, there was nothing in particular to
be cited in the course OF these stocks.
Chesapeake and Ohio advanced smartly in
the early dealings, and the Hooking Val
ley shares were notably strong. The an
thTacite coal stocks were comparatively
quiet, notwithstanding today's very strk-
ing statement of earnings, submitted by
the Reading Company.
Union Pacific and st. Paul received more
favorable attention than they have done
in some days. and marked strength ap-
peared in the Southwestern stocks, partic-
ularly in st. Louis aud Southwestern.
Interest in Manhattan.
Among the railway specialties Evans
vile and Terre Haute, Chicago and Eastern
Illinois and the MINNEAPOLIS ana ST. Louis
stocEs. showed appearances of rsviving in
teregt. There were again heavy dealings
conducted in Manhattan Railway, but lit
1r lgn- 4
authentic was added TO the general in
formation upon the actual status of the
property.
The dealings in the stock appeared to
reflect a constant accumulation of it, but
the intentions of the buyers are not di-
vulged. The other local traction issues
sympathized, but to a small extent in the
strength and activity.-in Manhattan.
Sugar Refining was conspicuous feat
ure Of the industrial quarter in particu-
larly sharp advance, and there was Some
discussion Of the movement toward the
reduction OF the tariff on Cuban sugar
To some extent the Speculation in the
stock was also Influenced by the approach
OF the quarterly dividend declaration, al
though there have been no suggestions
that any change in the rate was medi-
tated
Further Hise in General Electric.
The steel stocks were comparatively
dull and upon the announcement that syn
dicate subscriptions had been returned to
the underwriters the stocks, for some
CnaccOuntable reason, became heavy.
Aside from Amalgamated Copper. General
Electric and Peoples Gas furnished the
most striking movements among the spe
cialties. The exceedingly sharp advance
in General Electric revived the reports
current for some time OF the declaration
of a large stock dividend.
The money and foreign exchange mar
kets retained the tendencies they dis
played yesterday. Very large amounts Of
money on call were placed at 4 per cent,
and that figure represented the average
rate of the day.
Sterling exchange continued firm but
there were no definite suggestions Of an
early resumption Of expectations Of gold.