Evening star., 1901-12-21
FINANCE AND TRADE
End of the Week Shows Improves
ment in Stocks.
GOOD DEMAND FOR GHE COALERS
Reading Seems to Be the Lead
ing Feature Therein.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch 10 The Evening Star
NEW YORK. December 2i.-Notwitn-
standing the advance in money after the
close OF yesterdays business the trading
IN today's market reflected a steady under
tone The coal stocks were bought IN rouno
amounts and every Indication pointed to
an inside demand In this group. Earnings
generally show splendid profits and IN ad-
oition shere are numerous dividend ru-
mors to help the advance. Reading re-
sponos easily and ts. perhaps. leader in
the speculative buying.
The story OF the early retirement Of the
second preferred is misleading since the
condition relative to dividends on the first
date future. In the Erie group the pros
pect for the full dividends on the first pre-
terred is the encouraging factor Delaware
ana Hudson and Ontario and Western are
later in the winter.
Atchison was Irregular, but IN well-ir-
FORMED circles earnings are relied upon 10
bring the property into greater prorninence
once the general market broadens
Southern Pacific is being bought by houses
closely connected with the management
and many confident predictions are made
as TO the future Of the property. Union
Pacific was only steady the higher prices
attracting profit-taking In certain quarters
while the buying was based upon the show
ing to be made In the annual statement
during the coming week. St Paul was firm
and the pool in Rock Island seemed willing
to buy stock at current prices
strength In Panhandle 500 Issues the
Junior Nanderbiits and the Wabash stocks
and bonds were commented upon as fore
shadowing new year activity.
american sugar was weak under profes-
sional and inside selling said to be based
upon the cost In the product. There is a
general feeling that the decline In this
property Is but another device intended TO
help along pending legislation. It is a his
tor1c fact that the sugar company never
permits display OF its strength while new
DEMENT'S are being sought.
The sugar bounties In Cuba and Porto
Rico are to be discussed shortly, and the
need Of action will be shown by the un-
profitable condition of the domestic sugar
trade Sugar may decline, therefore, with
out causing alarm.
The steel stocks were noticeably strong
under semi-ofhcial rumors of earnings
OF business on a large scale for all Of
next year.
Copper was quiet and the Traction stocks
were strong under a speculative demand
All things considered. the week closes
with a marked increase in Confidence an
parent Remittances have been made TO
Europe to meet January interest payments,
ana the exchange market should work
easier IN consequence. This in turn should
allow money to come down to normal
rates, and dispose OF all concern over fur
ries in the call rate.
The bank statement reflects skillfu.
and thorough knowledge of what the
needs OF the street are at this time de-
crease Of SIS, 1865, 500 in the loan account is
the chief feature Of the weekly report This
reduction reflects liquidation to some extent
and, reinforced margins by interests conf
dent Of their collaterals.
The deposits are reduced s19.O62 Oo0 or
nearly $1,250,000 more than the sum neces-
sary to reconcile the statement A loss OF
"a, $4,000 in lawful money reflects the
drain to the interior and the subtreasury
The net result Of all changes is TO admit
OF bookkeeping addition to the surplus re-
serve amounting to $3.50. 800. or to a total
of s.. .7S5, ,325
This statement is encouraging to the ex-
tent that 1t reflects conservative banking
attitude, but 1t does not justify the hope OF
immediate activity In the stock market 1t
may inspire confidence in the holding Of
securities. but more money is essential be-
fore new risks are assumed. For the bal
ance Of the year purchases on the declines
and an effort to preserve a steady under
tone is about the most that is to be ex-
pected.