Evening star., 1901-11-11
FINANCE AND TRADE
Strong Demand for Stocks Starts
Some Heavy Realizing.
BOOM IN UNION PACIFIV
Preferred Stock Follows Example
of the Common
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star
NEW YORK. November Il-openins
prices this morning were generally higher
under an increased demand in which COM
mission houses were more active than here
tofore. London traded both ways, while
Chicago. Philadelphia and out-of-town
houses generally sent In a good volume OF
buying orders. Heavy realizing sales Get
In early IN the day. showing a willingness
In certain quarters to unload or reduce
present holdings.
This selling was the best the market has
had to meet and the fact that stocks were
so well taken is the most encouraging feat
ure of the situation
Confidence in the perfecting OF other
transactions, similar to the Northwestern
amalgamation. Is one of the chief inffu-
ences in the new demand. BY arranging
the most difficult of all the problems the
banking interests behind the Northern Pa
cifc settlement have again demonstrated
their capacity for leadership, and the
street is inclined to the belief that il higher
prices are desirable this interest will force
them.
There is consequently considerable buying
based upon the sort OF reasoning that, as
the basis Of it is speculative, Il can scarce
ly be said to be of the best. Under coYer
of the demand there is a shifting OF stocks
from strong to weak hands. and the
chances are against them changing back
again around the current level.
There were several new movements re-
fiected in today's buying. q sudden inquiry
for Union Pacific preferred being one of
them.
Rumors Of all sorts were in circulation.
the report that the preferred stock would be
treated as well as the common attracting
immediate attention to the former. because
of the Is per cent difference in price. I'm
der buying by the room and commission
houses the price of the preferred stock was
advanced over per cent.
Atchison issues were kept strong under q
good demand, the outside buying Of the pre-
ferred stock. being called especially good
There were nuRerous rumors Of a change
in the control oNChicago and Great West
ern, some round amounts of this stock
changing hands at advancing prices.
The southwestern group showed signs Of
new interest, and efforts to revive the con-
soidation project in that section were re-
ported.
The Vanderbilt shares were well taken,
the buying of the Junior issues being cred
tied TO inside sources.
Eries and Readings were taken in round
amounts by interests close to the manage
ment. The plan for placing these roads
in a position of greater prominence in
the anthracite field is said to be making
headway.
Inc announcement OF the plan, whatever
it may be, has been delayed so often that
there is fair supply of disappointed stock
which viii be thrown over at every ad-
vance. Such selling may delay the ad-
vance, but 1t can have no influence on ul-
Innate results. In the Industrial list Ameri-
can Car and Foundry was feature under
big demand based upon splendid earn
ings and assurances that orders were
booked well into the new year
The steel stocks were strong under a
splendid demand. in which Morgan brokers
were active. Covering in the fractions and
Amaiaemated Copper was in progress
throughout the day. all of the shares show
ing strength in consequence.