Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-12-13
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange, Bon1S. Grlll,
Cotton, Provisions, Etc.
These Are Closing Sales
Each Day.

New York. Dec. 12.-Activity in
large number OF usually dormant Sc
curiues was taken by traders today
to demonstrate increased interest in
the stock market on the part of the
outside public. Gains in these prop
critics were more extensive than in the
usual market leaders and extended to
1our points in some cases. During the
forenoon there was great animation
and strength with speculative interest
radlatinS from one group of stocks
10 another. Factors which contributed
TO the days rise included traffic state
ments for the first week in December,
embracing all sections of the country
and showing substantial increases.
Inc 1act that as yet money rates have
not exceeded 6 per cent. and that to-
day the highest figure made was 51a,
which tapered off to per cent before
the close rendered spectators less I'M
easy. With the absorption by the sub
treasury or internal collections and
transfers to the interior, the banks
thus far this week have lost S3,20O,OO0
Rates for sterling exchanges con-
tinued to yield, sixty day bills de-
cllned &c. 1t is understood that the
question of imports of gold is being
considered by prominent institution
on the basis of allowing interest on
the money while in transit. With this
relef apparently in sight should condi-
lions become stringent in the money
market, speculative pools became ac-
tive and forced considerable covering
or snort lines, The market for Amer
leans abroad was described as buoy
ant and the arbitrage houses bought
ABOUT $4,000 shares on balance for Lon
DON This demand was primarily re-
sponsible for the weakness in sterling
exchange rates as offerings of CONNER
cial acceptances were only moderate.
AT the outset of business the coal
stocks were the principal features and
generally got we'll above last nights
close on an enormous demand. These
properties later on showed the effect
OF heavy realizations. Heavy buying
developed In the slow stocks owing to
encouraging reports of the trade out
look. Tin plate made the extreme rise
OIL 2Bc, but Steel and Wire was the
most active and good second with
n gain of 2lsc. Satisfaction over the
annual report published by the Brook
iyn Rapid Transit Company promoted
demand for the stock and strength
ened all the transactions temporarily.
There was very heavy buying at in
terVals in the grangers, Pacifics and
some of the Southern and Southwest
ern stocks With Burlington, Kansas
and Texas preferred ana Louisville
especially prominent. During the early
had ceased, the demand showed signs
OF exhaustion and prices We're in
clined TO yield. Not much impression,
however, was made on prices when
the traders realized that there were
strong spots. which kept the general
market pretty well in check. Unusu-
ally large dealings in the Lake Erie
and Western stocks caused rise of
4c and 3lac, respectively, for the com
mon and preferred and New York,
Chicago and St. Louis first preferred
jumped points to log. An increase of
" per cent. to per cent. in the semi
annual dividend on the Minneapolis,
st. Louis common stock, resulted in q
rise Of 2kc in it's price. In the final
hour raid was made on Tennessee
Coal, and the stock broke iA points
on rumor that the directors We're in
session, and had passed the quarterly
dividend on the stock. This movement
unsettled the entire market and prices
fell away rapidly, averaging a point
for the most prominent railroads and
extending to 21sc in the spcciaties.
Tin Plate being most affected. When
IT became known that the report of
dividend action on Tennessee Coal was
unfounded the stock rallied . points
and all other stocks recovered some
what, speculation leaving off strong
again and active. Business in bonds
was very heavy and notable strength
was displayed by Kansas and Texas
issues. Reading As got up to 93Ac
early but lost practically the rise in
sympathy with the decline in the
stock. Realizing sales depressed the
Erie issues all day. the As closing II
point off. The market otherwise was
uninteresting and irregular. Total
sales par value, S5,0T0,000
United States refunding 2's register
ed advanced Is and new As Il per cent.
on the last call
Today's total stock sales were SiO,-
800 shares.
New York. Dec. Consolidated
Gas closed 100.
New York, Dec. 12.-Standard Oil,
790Gp795.
Baltimore. Md, Dec. 12-seaboard
common 10A oil; preferred. 2S3sQ29.
NEW YORK STOCK MARKET