Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-11-27
Stocks Were Steady Under Buying Of
Sugar and Copper
STRONG DEMAND FOR SOUTHERN
Claim That the Road VIII Soon
Increase Dividend.
GENERAL MARKET REPORTS
Special Dispatch to Tho Evening Star.

Special Dispatch 90 Tho Evening Star.
NEW YORK, November "a steadler
tone In Copper and Sugar helped to sustain
prices In all parts of the active list this
morning. London traded both ways, but
the orders from that center failed to make
any impression this side. Commission
houses reported little new business. but
the various pools were active in the inter-
est OF higher prices.
The one unfavorable development was a
stiffening in exchange rates. which again
revived rumors of renewed gold shipments
Bankers were quoted against the probabilI-
ty of such movement, but the end of the
year needs may force out several millions
In coin in spite OF the present hopeful view
to the contrary.
As an offset to this prospect Il was an
nounced that S25,0o0.Oo0 OF the United
States steel underwriting fund would be
distributed, the need for such a fund hav-
ing expired. The releasing of this sum
Will permit It's application to other under
takings and the market is benefited TO the
extent of this possibility
The advance in prices during the noon
hour was due in considerable measure TO
the covering of short contracts over to-
morrows holiday. Prices advanced under
this professional demand and yielded later
in the day when II became evident that
there was no longer any haste to cover
outstanding contracts.
New York Central and Manhattan were
bought in large volume during the morn
Ing. the advance In the latter being con-
Quoted by pool and lacking acceptable eN-
PLANTATION. A considerable following real
lied at the high prices. and In some quar-
tiers this selling was taken to mark the ap-
preaching end Of the advance. This view
was not unanimously accepted. however
and the declining prices brought in new
buying of good character
Southern railway shares were prominent
in the days business. the buying of both
common and preferred reaching new high
levels. The latter issue will get it's full
) per cent in January or be retired for a
bond, as is suggested i'm certain quarters.
The demand came from Morgan brokers
and was extremely confident. Louisville
and Nashville, Hooking Valley and Illinois
Central were also bought by the interests
Reading was strong under the influence OF
splendid earnings, which, II continued
would show something over 2ts per cent
earned on the common stock OF that COM
pany. All OF the anthracite group held
well, but there was no attempt to force
these issues to the front.
The buying of St. Paul and Union Pacific
was fair in character, but there was no de-
mand for either at the higher levels 1t is
evident that friends of these properties are
carefully watching them, but hesitate to
give them new prominence while there Is
any doubt in the public mind as to the
legality of the northwestern settlement
Colorado Southern issues were unusually
active at advancing prices good earnings
and predicted inside developments being
offered in explanation of the movement
General Electric advanced per cent
during the morning, but lost ) per cent
later in the day under selling to take profits
on the weeks advance.
The distribution OF this company's splen-
did surplus, now expected in the spring
would make present prices cheap, it is said
Closing prices were irregular. but senti-
ment in the main, is hopeful of better
prices. There is no increase in the public
demand, however. and 1t cannot be doubted
but that pools are willing to sell and are
deferred from doing only by the con-
seriousness that the market is not suffl-
GENTLY broad to warrant the movement