Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-12-11
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange, BOnls, Gritd,
Cotton, Provisions, Etc.
These Are Closing Sales
Each Day.

New York, Dec. 10.-The effect OF the
doubtful outlook in the money market
was clear to-day in the small volume
OF business in stocks. Tie money mar
ket showed no signs of stringency and
no liquidation was precipltaled. In
fact the buying overbore the selling,
and there are more net gains than
losses as n result oil the days opera
tons. The buying seemed to come from
uncovered shorts, judging from the fact
that those stocks which have suffered
most from the recent depression were
In the foremost demand to-day. This
was notably true OF the steel group
led by Tennessee Coal, which has been
the object of prolonged raid by the
bears, at an expense OIL 20 points III the
value oil the stock. a rally OF Az
points at the extreme high point to-day
therefore seems moderate. Other mem
bers OF the steel group moved in sym
pathy and gained upwards of Il point
all around, with the exception of Steel
and Wire. The latter stock was under
pressure. While it recovered at one
time to above Saturdays level ii closed
weak and affected the whole group.
NO action was taken on the dividend
OF the Tennessee Coal Company TO re-
fute the recent rumors that it would
be passed. The Steel and Wire Clrec-
tors ordered the payment of the last
lnstaliment of the years dividend de-
cared last year. The strength of
Sugar was attributed 10 reports of an
oversold condition in the trade. indi-
Gated in an advance OF the selling
price of refined sugars by ,he indie
pendent refinerS. Other industrial
STOCKS showed sharp rccoVeres, with
no news to explain the movement, be-
You'd the obvious fact that they have
been recently sold short by profession
al operators. The movement in the
railroad list seemed to be due to the
same cause, but was much narrower.
There was no evidence OF the large or
gained buying at any point, that has
occasionally featured the market. The
ERIE stocks were much less active, al
though the first preferred and the Sec
ond preferred were at one time advance
ed rs and IA respectively. The Pitts
burg G. G. and St. Louis stocks rose
3la each on light demand, which how
ever brought out Very little stock The
minimum rate for call money was add
Vhnced TO five per cent. and ruled from
mat to six per cent. There was no
sign of stringency and renewals were
easily effected, but all leaders held
suiiiy Tor the advanced rate. The
opinion has been in Wall street that no
relief was to be expected by gold inn
ports, owing to the large requirements
OF foreign money markets. but the vio-
lent decline in foreign exchange to-day
both on London and on Continental
points. aroused renewed conjecture on
mat point. Posted rates for sterling
were marked down Il full cent in the
ound and the actual rates for short
!'nd long sterling fell lsc. and Tor ca
Lies sc. The response OF to-morrow's
money market in London to this de-
Velopment is awaited with interest
Erie bonds continued in large demand
ana We're the feature of the bond mar
ket. The price movement otherwise
was Irregular. Total sales par value.
SS,dS0,000.
United States refunding 2's and old
as declined Il ana new lis advanced
rs per cent. on the last call
547. 200 shares
New'York, Dec. 1o.-stondard Oil, 1856
Baltimore, Md. Dec. 1O-Seahoard
common. ll@llh; preferred, PSF acc.
Bonds. four's, 73.
New York, Dec. lo.-consolidated Gas