Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-12-17
Stocks Showed Strength in
the Opening.
SOME GOOD ADVANCES
REALIZING SALES DURING THE
CLOSING HOUR.
Final Prices Were Somewhat Above
the Close Of Yesterdays
Market
Special DISPATCH to The Evening Star.

special DtsDatch to The Evening star.
NEW YORK, December I7.-American
railway shares In the London market to-
day were irregularly changed. with slightly
lower prices as a rule. Consols for both ae
counts were off lie.
In the local stock market Londons
slightly lower range of values had no effect
on our speculative sentiment. On the con-
trary, the opening prices here nearly all
showed good advances.
The money situation seems to be steadily
improving, and some of the wild rumors In
regard to Che Venezuelan situation SO prev
alent Just before the close of the market
yesterday, and which caused rather a sharp
break In the general list. were lacking
In confirmation this morning, and there
seemed to be great haste on the part Of the
late sellers yesterday to run to cover.
St Paul. after opening up l per cent.
quickly advanced ~ further. Missouri
start and gained nearly 1 per cent more on
good buying for both accounts. Southern
Pacific was one of the strongest features
of the early trading. gaining over per
cent on heavy transactions, the attempt
being made. according to rumor, to squeeze
certain members OF the bull pool, who are
said to have gone short to quite an extent
New York Central was stronger on talk OF
an Increased dividend, gaining over ~.
Pennsylvania was favorably affected by the
passage Of the New York tunnel franchise.
Reading gained over 1 per cent, Delaware
and Hudson made like gain and Delaware,
Lackawanna and Western improved III per
cent. Chesapeake and Ohio was active and
the buying was considered good. the price
advanced is.
Most of the list showed a reversal of the
close Of last night. and the advances ranged
from / to 2h per cent. and there was
noticeable scarcity OF stock offerings.
London was q seller, possibly on account
OF the statement of Premier Balfour in the
house of commons today, which In substance
admitted that state Of war actually ex-
lists in Venezuela and intimating that a
notice of blockade of that country would
shortly be given to the powers.
The new buying In the market today was
thought to be based to some extent on the
Information given by the president OF
prominent national bank concerning the
amount Of money received from the west
and indicating that the bank statement
this week would show an important net
gain in cash.
also reported that they had offerings Of
time money below the legal rate. but were
inclined to depend largely on call money
until after the end of the year.
About midday rumor was current IN the
board that the allies had formally declared
war on Venezuela, but the enect OF this
piece OF news did not bring about the re-
action expected by the authors, possibly
because this government has recognized
this idea from the time the allies captured
and sank the Venezuelan ships and fired
on the fort at Puerto Cabello
Around delivery hour the market. how
ever. showed some signs of profit taking.
about the only thing showing stubborn re-
sistance to this movement being Sugar re-
firing common, which earlier in the fore
noon had advanced sharply over points.
Mexican Central made a very fair recov-
cry owing to the improvement in the price
of bar silver. The acquisition of the Union
Steel Company and the Sharon steel plants
by the United States Steel Corporation had
q good effect upon the issues OF the last
named company, as 1t was argued that this
purchase removed their most important
competitor in its western district.
A good deal of the early buying was said
to have come from Washington houses,
who are expected to be pretty well in
formed as to the Venezuelan trouble.
London in all traded in about 5000 shares.
selling 5000 on balance. Summing up the
days trading, none Of the large operators
seem willing to take positive position on
either side Of the market just at this time.
and there is likely to be good conservative
trading market for the next few days. until
this South American situation is more fully
developed The market at the close showed
the result OF heavy realizing in the early
afternoon and closed at about perhaps, q
little above yesterdays final prices.