The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-12-24
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest o; Exchange News-Mining Stocks.
Metal Quotat.ons-wooi Prices and
Movements-Grain and Pro-
duce-Review o. Trade.

New York. Dec. 2S.-The stock market
moved in an Irregular fashion. As a re-
suit of the days operations changes were
fractionally in favor Of the advocates OF
the long account. a very unusual thing
on the eve OF a Christmas holiday. The
activity and breadth OF the market were
well sustained. London was a buyer In
the early dealings. but later took profits
on the rise here. The action OF the gov
ernment in calling for the S.oo0.O OF
Union Pacific payments now in the depos-
itory banks. which lie to be paid In 10 per
cent. installments. failed to cause a rip
pie In the money market.
The speculation In Federal Steel issues
was on a tremendous volume OF business.
and both common and preferred rose very
sharply. but In the afternoon. on free
liquidation and the withdrawal OF some OF
the usual support. the stocks broke. lead
ing TO = moderate reaction In other
shares. There was good buying. however.
Of Federal Steel on the dip and this stead
led the general list.
Sugar. Leather. Tobacco and American
Steel and Wire showed considerable
strength. Rumor had Il that there would
be favorable developments announced in
Brooklyn Rapid Transit before Tuesday.
and the stock rose 2 points. but did not
hold the extreme rise. The closing was ir-
regular.
The market this week continued I'm an
almost uninterrupted movement upward.
although there were daily periods OF de-
preston and recovery. The movement I'm
a general way verified the street proverb.
go governments so goes the mar
ket."
The upward trend I'm the government
mortgages resulted I'm some record prices
and the general market for stocks and
bonds was likewise strong. Two other
street maxims were not borne out by the
course Of quotations. London prices are
usually nm index To the trend OF the mar
ket locally. The public was content TO en-
JOY the Christmas holidays without real
izing paper profits and the reaction be-
fore the holidays" which is according to
precedent. failed to materialize. Condi-
tions permeating the financial fabrics con-
tinue wonderfully favorable to this nation.
Bountiful crops sci, abroad at remunera-
tive and steadily increasing prices. The
congestion of surplus capital due To
Americas enormous trade balance ex-
plains the investment OF some So. 900. 900
used In discounting commercial bills.
which must be paid I'm gold or in securi-
ties. unless the United States assumes the
role Of "A creditor nation and gives ear To
the propositions to float foreign govern
ment loans here. The return flow OF mon
ey from the South and West Is about
due.
The railway traf1c reports continue
gratifying and gave substantial founda-
ton for a rise In some directions aud
seemed to warrant the Introduction of
many dormant securities to the specula-
tive and semi-investment public. Small
reactions and ~irregularity. due to bear
tactics. kept trading rather healthy and
free from the danger of n too suddsn in
fiation. Toward the close OF the week
there was a Discrimination to be short over
the holidays, and there were large COW
ering purchases
Much Interest: was manifest I'm the dlvI-
dend declarations of the week. but there
was no change, except the Increase To 2
per cent I'm the Denver preferred disburse-
ment. The over-sanguine predictions cur
rent as To the probable dividend declara-
ton met some credence in particular
cases, owing the favorable reports OF
earnings. The grangers and the Pacific
were I'm keen request at periods and gain
ed substantially.
The weeks bond market was less active
than the preceding week and the deal
ings were uevoid OF such pronounced
Irregularities were very con-
spicuous in securities. but the general
tone was, nevertheless. very substantial.
many issues improving TO the best prices
ever offered for them.
L.. S. new SIS and the Is advanced u
per cent. the old is coupon y per cent.
and the old As registered !. per cent. in
The hid Dricp. /