The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1900-12-28
New York stock Market

New York. December 26.-The stock
market went through some astonish-
ing Vissitudes today. but its most as.
toniShing phase was the final reour-
renee of the undertone of strength
which came in to support the market
SO persistently of late and driven off
all moods of depression. After OPEN
ing with a skyrocket advance in prices.
followed by a drop very like the sky
rocket sticks, the Hyarket gathered it
self together again, and, ignoring the
continued pressure of liquidation which
continued in force at some points, 1t
esumed its irregular show of strength,
the Struggling new points of strength,
being unaffected by the "Wednesday
others. The sharp reaction atsS&d-
session was due more than a&yahtu2f
else to the extremely doubtnE 5eh4Ss
aeter and the violence of$Nk 1ppaf Fin
prices gave a suggestiopasAs pafSHative
compartment of tb6S fhlmiH4ffon of a
bull markets Pw3Senafsaaders have
beer constansssss&S the ls6kest for the
sold. the ma7kEf eagerly ak the open
1tng rise. ;
faessohertngs we're spsS einented by
the NENShea.yy pfohtsfHeing of infer
ests Observation-Disclosures this period
OF the market fEtook e. an appearance
Of general Weakness&psiees crumbling
throughout, the list,
The surprising S$enthg gains in a
number of intustsf9k specialties M a
lTsNiped out an4a9he.o of the important
raslroad ~stocA6Eenad fallen from a
fraEtiDn TO aE4fAiHt below Saturdays
cloEng Level 1.-The violent break in the
hern PaaPsHcstocks a a large in
fuN & in tt8Ad4cline. as the unbridled
speqalatoMa1n aff1e same issues has
bee the 3Aiient point of the market
for &aysfErkSt A published statement
tha& h preferred stock woul not be
retf9ed on the coming first of January
is tie gffeund forhthe break. as it would
TAXI AsSay the reason for the recent
spee4aatpn: The common stock was
cafzed DOWN an extreme 81 and the |
preferredlnearl y 8 points. A s per cent. !
cadIsnlon$y rate emphasized the eau /
tioMsnfeaing. and the relapse to ) per 1
ceTE-Iater in the dav was an important |
in the rally. The substantial |
character of the buying orders encoun- |
teredssAt the decline discouraged the |
their buying to owe helped |
the rally. 1t had its inception in the |
lo~caEttaction stocks which were ali
very with accompanying rum<J
ors Of consolidated control. Missouri
Pacific, Kezding first preferred, PeoEt
pies Gas n Sugar We're also con- 1
teasures of the late recov-a
cry. The esqsing was Very iTegdlar,A
but with the ~undeAspne strong. Thsa
opening outHarst wasesaipabaY due rf
large par DISQUALIFICATION and waf l
by the busy ~operafions OIL
speruiRGre cLqpes. during tBS nciidaf4
bi1{3
for almost ~aly Arnpunt OF the scoc&sj
effecte without a4x actual trans6Ea
being fn<hIved3as a restraig@
influence. The openttFg Of p~ricegfxiuft
Brooklyn Transit varied nearly 3 p6{htat
IN an extreme advance Of SIS a~ndZfkergf
wide openings on runninEaalesj
Z Tennessee Coal. Sugar. SNltPauf,i
ffrst preferred and AtehiaR4H Thei
gains IN these sto<A8 ra-H
rom ? to over 5tfoints. exceptEi e first
preferred, which was ar~Ro lt36he more
Ihau,a fraction over Saturd6E There
seemed to be pienAy OF flAhs avail
Tor borrowers. and fenders show
themselves anxious to put but money
IN time. having In mind the coming
interest and the promise Of lower
-ates. while borrowers show no prefer
nee for call loans. 80
The turn of the interior. ~currenct
movement IN favor OF New York and
continued gains by the New York
from the s~ub-treasury on accoun
II large premiums on government
and antfcipatory payment or
government interest give a feeling of
issuance that the a will be turned
trouble in the money market,
The railroad bond market was ac-
i've and showed only a few weak
Total sales. par value. were a.
10000 All United States bonds ad-
4 Der cent. on the last cali.
The total sales Of stocks today were
Al, 500 shares. !