Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-12-08
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange, Bonds. Grain,
Cotton, Provisions, Etc.
These Are Closing Sales
Each Day.

New York, Dec 1.-THE prospect of q
decline in cash reserves of the banks of
upwards of 100000 proved too much for
the fortitude of spectators to-day and
they sold stocks reversing the move
ment of yesterday. They had the advan-
tage OF new points of strength in num-
Der OF individual stocks amongst the low
priced ones, a demoraiiZcd tone in one or
Two Two of the industrals more than Offset
ms advantage. The sub-treasury alone
mas taken up from the banks during the
week Sc. 100000 including the deposits at
TO the interior. The direct movement by
express. although supposed to be small
on nalance; Is certainly in favor of the
interior, There is suspicion also that
the local movements of cash, which have
nelped out the showing of the banks for
the last few weeks, Is not to be relied on
this week. Those gains have been due to
large extent to The operations of a
single bank. in which is centered some
financial world. including copper mining
STOCKS. The course of Amalgamated Cop
per per during the week has given rise TO
with 1t need not be expected TO have
taken measures to conserve the general
money market situation. The loan item
surmise.. While there has been some
sspeculauve liquidation in the stock mar
kel there mas been some large borrowing
Ior outside financial operations, including
subscriptions to a s10,O00O00 issue of Third
ed to-day with the announcement that
y i mad been largely over-subscribed If
mere mas been any considerable loan eX-
pansion double effect on the surplus re-
serves may prove somewhat sensational
especially with the most trying period of
Immediately faced. Liauidation was not
urgent in the stock market but was quite
general. Even the Erie securities yield
attempting to explain their movement by
aeIiiegInG that the company had purchased
the the f sfnniss van Goal Company. Both
subsequently to top prices. Besides this
s s1rdsng ga Wq rs c shown by the ST. Louis
second preferred. with an advance of 2&.
and the New. York. Chicago and ST
Louis, led by the second preferred. with
there was continued weakness in Tennes-
SEE Coal on persistent rumors that the
fell at one time 2ls and after iluctua tis
feverishly closed within x of the lowest
Coincident with the meeting of the drec-
tors or the United States Rubber Com
pany, the common stock broke and the
preferred stock 5si,- without meeting any
effective support. It was reported after
the meeting without equal authority that
the company had reduced the price of its
goods Is per cent, and doubts were ex-
pressed OF the maintenance of the divi-
aends ON the preferred. Pacific Mall
broke nearly points on the, large de-
Der. Unsatisfactory results of the meet
Ing OF Western railroad presidents to en-
force force the observance OF freight rates
helped to depress the railroad list. There
was weakness in Peoples Gas. Tobacco
and the local fractions. The closing was
stocks We're at the low point BUSINESS
In bonds continued large. There was
profit taking in some of tho speculative
issues, but there was not n notable in
crease In the demand for high grade
bonds, which made the market very
U. s. SIS and 5's declined Il per cent
on the last call.
To-day's total stock sales were Col, zoo
shares.
.oSNe New York, Dec 7.-standard OIL. 1850
New York. Dec. 7.-consolidated Gas
closed 1855.
Baltimore. Dec. 7-seaboard common
nb411A, preferred, 29d29s Bonds. 727s