Evening star., 1901-12-31
FINANCE AND TRADE
Good Demand for Railway Shares,
Particularly Coalers.
DEMAND FOR THE GOULD STOCKS
Money Rate at One Time Reached
is Per Cent.
GENERAL MARKET REPORTS

Special Dispatch 20 The Evening Star
NEW YORK, December 3l.-There was
some confusion in the price movement In
To-Day STOCK market, growing out of the
evening up OF contracts, ana, In some an
stances, demand for stocks expected to
become active during the new year. As was
the case yesterday. the strength OF a few
Issues was taken advantage OF as a cloak
Tor realizing in the general list London
WAS a free seller during the day, the total
seLlng peing estmated at $1,000 shares,
while the purchases were only 5000 shares
Locally the interest centered In the coal
stocks, the buying OF Erie becoming a con-
splcuous feature of the day. The demand
Tor ali three issues was credited to inside
sources and was based upon the prospects
OF the full dividend being declared upon the
hrst preferred stock. The dividend on the
second preferred has been earned and some
time curing the coming year there should
De some developments in that issue
An effort to retire 1t and bring the COM
mon stock within range of dividends Is
SAID 10 De contemplated. Reading issues
showed some realizing, but held remark
ably well in view of the recent advance
The high-priced coal issues were steady
but there was some selling to take profits
In speculative accounts.
Ihe injunction against the retirement of
Northern Pacific preferred stock had little
effect on the market. j. p. Morgan a. Com
pany announced early in the day that they
were prepared to take the stock at par The
II
hxed for Thursday, and the funds are al
ready In hand to meet the payments.
The buying Of Missouri Pacific was said
to be for inside account, but the stock was
IN 1alr supply at every fractional advance.
The Gould stocks generally were only
steady, and there is continued confidence In
their prospects for next year.
southern railway issues were active dur
ing the morning under a fair demand from
sources usually active in the more impor-
tant movements in these shares Good
earnings and the payment OF the full 8 per
cent on the preferred stock during the first
hait OF the year are the factors behind the
advance.
Some buying of Rock Island by Morgan
brokers has given rise to rumors of a new
deal In western railroads
Atchison is also well bought at adyauc-
ing prices under a demand quite as conf
cent In character as any to be seen in
the street. Denials of & desire TO secure
control of this property are heard In va
rlous sources, but the system is entirely
too important to be long ignored Its ca
paclty for Independent action suggests the
wisdom of an alliance with a strong east
ern trunk line.
The industrial list was steady. but the
pest business went into the railroads.
Inc money rate advanced to Is per cent
curing the morning, and the volume OF
business fell on In consequence Later In
the day, when this rate was cut in half
new buying appeared in all the specialties
The money furries of the last ten days
nave come more nearly being ignored than
any previous action In several years The
reason for this is that bankers as a rule
are confident that the prevailing conditions
are only temporary.