Evening star., 1902-01-31
Profit Taking on Slight Advance in
Prices of Stocks,
GOOD BUYING OF THE COkLERS
Amalgamated Copper Scored An
other Advance on Heavy Demand.
GENERAL MARKET REPORTS
Special Dispatch to The Evening star.

Special Dispatch to The Evening star
NEW YORK. January 3l.-opening prices
this morning reflected fractional advances
for a majority Of stocks. but there was a
decrease In the volume of general business
London sent over a higher range OF prices
and some buying orders. notably those In
Southern Pacific, during the first hour
were credited to foreign houses. Upwards
or lsooo shares Of the stock named were
taken by houses acting for London corre-
spondents. The pool In this stock gave II
splendid support. and one or two OF the
most conservative houses in the street
took as much as 10000 shares during the
forenoon
There was a natural tendency toward
proht-taking after the noon hour and prices
receeded under decreased volume of busI-
ness.
Activity in Colorado Southern shares was
one of the features Of the day. rumors OF
an Increased dividend on the first pre-
ferred at the March meeting helping the
advance. 1t is said that in spite OF the
fact that the full per cent has been
earned there is not a unanimous desire to
raise the rate for the present.
The stocks were well taken, however
and the buying interests were those in
close touch with the prospects OF the COM
pany. sharp advance in Rock Island
was attributed TO a report that the earn
ings Tor the year were equal to l2k per
cent on the stock. The buying seemed to
indicate the presence OF an inside de-
mand for all the floating stock. Because
OF TINS desire to accumulate speculative
holdings suggestions Of a possible corner, a
plan for closer relations with Atcheson and
other similar rumors were numerous.
St Paul was strong under good buying
and the belief that the property is rela-
tiNely cheaper than majority of its west.
ern neighbors. Rumors that a private bid
had been made, at prices above the market
for considerable holding. lacked confir-
nation. Reading issues were given some
attention during the late afternoon, and
advanced easily under the new demand
This property Is unquestionably going into
strong hands and should take rank with
the better anthracite coal shares.
Erie continues to lag because of the
knowledge that the road needs money in
order to take advantage Of its splendid op-
portunities. The high-priced coal shares
are being bought with a persistence which
trading.
Amalgamated Copper opened at an ad-
vance OF 1$ per cent, reacted later under
mixed sales and recovered to its best price
during the last hour.
1t Is expected that the rate for the prod
uct viii be advanced beyond 13h cents per
pound at an early date In spite OF the fact
that options at that rate were offered up
to next July. The arrival in this country
OF prominent director Of the Rio Tinto
Company encourages the belief that an at
tempt will be made to incorporate the
Spanish mines into some of the Amalga-
mated plans.
The buying of Metropolitan Traction by
Philadelphia houses again attracted atten-
ton and record prices are predicted for this
stock during the spring.
Peoples Gas was sold down by traders
on a revival of rumors indicating a periodi-
cal attack of municipal legislation in Chi
cago.
The known movements of money would
Indicate that the banks have gained 81 65l,-
600 during the week. Some large loans
have been made In order to take advantage
of the lower rates for money.