The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1897-12-11
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Proceedings.
NEW YORK STOCK REPORT
Digest of Exchange News Mining Stocks,
Metal Wool Prices and
Movements-Grain and Pro-
duce-Review of Trade.

New York Dec. 10-To-days stock
market was a renewal of the contest be-
tween the reactionists and the combined
interests which have embarked on bull
campaign. The bears were encouraged by
the evident distress under which - bulls
Iabored and there was much buying 10
sustain values at weak points ana they
were prepared for strong measures 10
break the market Although they had
the advantage ut the outset OF lower
quotations from London, the earliest
deals here showed an advance. Sugar
leading. That stock, Manhattan and the
railroads were soon weakened by liberal
offerings to realize and the reactionists
soon attacked the whole list
There were very heavy dealings Ill
Northern Pacific preferred, which has
been sharply advanced on rumors of
liberal dividend to be declared to-day.
The action on the dividend was timed
for about the hour of the closing OF the
market but the street was kept busy all
day with contradictory rumors on the
subject One of these had ii that action
on the dividend would be postponed alto
gether and the resulting decline ~ Vie
stock uncovered stop loss orders cover
ing of shorts in the final dealings and
early information of the decision Of the
directors to disburse the first dividend of
/ per cent. caused a rally of nearly a
point in the stock but left a net loss of
fraction a share.
The bears made vigorous attacks on all
of the stocks of the local corporations
which have been recently advanced, the
Transit company's talk that the under
ground rapid transit plan was about to
fail and the gas companys ON alleged
assurances of political favoritism.
The stocks all reacted from over / per
cent. and UP to per cent. The stocks
of the transit companies recovered partly
on the postponement of a decision ON the
underground plan. The break i'll this
group, however, broke the market and
precipitated more declines in all the rest
of the list The leading stocks lost l pr
pent. or over, and some much as per
cent The covering of shorts at the close
and the rally in local transit stocks re-
duced net losses in most cases to frac-
tions.
The stocks Of several Northern and
Southwestern railroads were comparative
ly firm and show the smallest losses.
Union Pacific showed a tendency to rally.
though 1t weakened somewhat later upon
a denial of the story that the reorgani-
cation committee had again offered the
government the full amount of the prin-
cipal of its claim for settlement OF the
Kansas Pacific. Business through COM
mission houses showed q large falling eff
to-day and sales for London account con-
tinued on quite a large scale. The general
news of the day and the statement of
railroad earnings which was favorable.
were disregarded and the course of the
market was due almost entirely to the
contest between professional traders.
The feature of the bond market was
the decline of four points in the Kansas
Pacific consols due to the apprehension
that the possible purchase OF the property
by the government debars the holders
from "a share in the Union Pacific reor-
ganization plan. The demand for high
grade bonds continued good and num-
Der of gains from | to per cent, We're
shown. The speculative bonds reacted
somewhat in sympathy with stocks Total
sales. So. 1901 600. L. S. old As registered adj
yanced to-day * bid and the IS i bid.