Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-12-26
FINANCE AND TRADE
Stocks Were Dull and :Ir-
regular Today.
SOME LIFE AT CLOSE
DUE no LOWER RATE IN CALL
MONEY.
Professional Traders Bid Up Certain
Issues to Squeeze the Short
Interest.
SOME LIFE AT CLOSE
Special Dispatch to The Evening Star.

Special DISPATCH to The Evening Star.
NEW YORK, December 28-This was q
holiday on the London stock exchange.
consequently there were no dealings In
American shares and nothing was known
as to the speculative temper in that market.
In the local stock exchange there was
only light attendance on the floor. and
the opening was irregular and rather tame.
Peoples Gas, Sugar. Biscuit preferred. ST.
Paul. Rock Island. Reading and the steel
issues showed fractional gains. while Mis-
souri, Pacific, Consolidated Gas, Amalga-
mated Copper, 500 preferred and Wis
onsin Central all showed small declines.
Soon after the start renewed strength
was shown in Brooklyn Rapid Transit, and
there were rallies of from n to 1 per cent
in Amalgamated Copper. St Paul. Pressed
Steel Car. Sugar and the Rock Island is
sues, the buying in the latter appearing to
be for Chicago interests.
Copper looked stronger on buying by Bos-
ton, induced by the Montana supreme court
decision, which seemed to modify some
what the ruling OF the lower court. which
was wholly in favor of the Heinze interest.
Great Northern scored a good advance on
reports OF an expected advance in the divi-
dend rate of Northern Securities stock.
which would also be helpful to the former
stock. Call money rate ruled around 10
per cent, and commission houses had very
market.
The early trading today wore very pro-
fessional aspect, and there seemed very lit
tie animation among the room traders.
After the first hours trading the market
sagged fractionally but there was an effort
made to hold prices steady by bidding up
one or two specialties. Peoples Gas was the
most prominent in this respect. the stock
advancing Marty two points on a manipula-
tive move to drive the shorts to covering
their outstanding contracts.
Canadian Pacific acted well and there
were buying orders in it from Montreal
Southern Pacific lost a point in the early
reaction, but recovered nearly all OF the
loss before noon.
In the early afternoon some activity and
strength were displayed in the Erie and
Reading series, the former stocks rallying
from 1 to H. The general list, too. was
alphabetically affected, especially Balti-
more and Ohio common. which gained about
point. And there were also gains of 4
to q In st. Paul. Sugar. Southern Pacific
and Missouri Pacific.
The traders were responsible for this
rally, being Influenced by a little easier
tone in the call loan money rate, the bid
and asking figures being 81 to per cent
as against 10 per cent earlier in the day.
There was no other news OF importance to
account for the Improvement In the mar
ket, and it was noticed that long stock
came out on the rallies.
In the late trading the market showed
marked improvement, and good advances
were scored throughout the general list on
buying for both accounts, the favorable in
fiuence being an authentic report that the
powers had agreed to refer the Venezuelan
trouble to The Hague tribunal. Money
eased on to per cent and the feeling
around the room was considerably moro
bullish on the situation.