The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-12-06
The WORLDS MARKETS
Daily, Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest O. Exchange News-Mining Stocks.
Metal Quotations-Wool Prices and
Movements-Grain and Pro-
ducs-Rsview of Trade,

New York. Dec. 5.-To-days events in
the stock market brought additional dis
couragement to those who had been at
tempting to maintain or advance prices
OF securities. Liquidation was the order
of the day and many holders who hays
waited for weeks on deferred hopes of
the situation clearing up and the bull
market being inaugurated threw over
their holdings to-day The weakness was
most apparent in the industrials and spe-
cialties, but the railroad stocks were very
generally sold. There was some buying
or stocks last week on the presumption
OF speculative professionals that the pres
adent message was to be bulish docu-
ment, and its publication to-day brought
proht-taking from those sources in the
natural order of events. The paragraphs
OF the message bearing on the subject of
industrial commission was the ground for
special weakness in the industrial depart
ment. quite Il number of these securities
are from one to three points lower on the
day. single lot of United States Mill
ing preferred sold at u against 224 the
last preceding sale. This stock sold on
Sept. 10 at 7Sla.
But the principal influence in the days
weakness was the money situation. The
spasmodic character of the selling and
the exceeding dizziness of the Intervening
periods reflected the operation of loan
contraction by the banks Of the successful
calling of loans, throwing blocks OF Sc
curities upon the market which found no
support awaiting them.
There were some slight signs of firmness
IN the early dealings, especially in Sugar
and some Of the railroad stocks. The
trunk lines remained comparatively firm
throughout but the slight evidences of
CT moth oil ~
eral tide of weakness.
Call money reacted early in the day
and receded to per cent. before the Close,
but the easing of the rate did not bring
any strength to stocks in view of the gen.
eral outlook Shipments of money are
still being made to New Orleans and the
New York exchange ratelat important in
terror centers continues at a discount.
Notwithstanding yesterdays d:sburse-
ment by the sub-treasury of more than
100000 on account of bond redemptions
that institution was creditor at the
clearing house this morning to the extent
of more than 100000 Its gain from the
banks since last Friday has reached
81, $4,000. The majority of the banks be-
Ing still very near or below their legal
reserve requirements, this shrnkage in
surplus Is forcing still further contraction
of loan liabilities. The tendency Is in
creased by the approach of the annual
preparations for the special demand for
money which will be made by 1t upon the
supply.
Sterling rates advanced to-day in New
York, Paris and Berlin Notwithstanding a
further easing of the rate for call money
at the English center. The New York
rate IS now within a fraction Of the gold
export point and it is parpable that only
stiff rate for money in the local mar
ket will hold it below that point The
closing of the stock market was generally
easy and near the low point.
Prices of bonds declined in sympathy
with stocks. Total sales, par value, 81, 260,-
600. -
U. S. new As and old As registered ad.
vanced " per cent. and the As coupon and
SIS II per cent. in the bid price. The 2's
declined u per cent