Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-12-22
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
STOCKS, Money, Exchange, BonlS. Grlln,
Cotton, Provisions, Etc.
These are Closing Sales
Each Day.
(By 1elegraph to Virgininn. Pilotl

By Telegraph to Virginian- Pilot)
Nsw Work. Dec. 2l.-Tberc WAS no al
teration in the character of the stock
market today. Trading continued on Il
very large scale ami the tone was
strong. Possibly the interest was Il tri-
iie less broad than on some previous
days of the week. The buying showed
tendency 10 congestion IN certain
stocks and the specialized strength of
Il few stocks was Il dominant influence
in sustaining rtices The expectation
was rather general that movement
TO sake profits would develop daTing
the day. The prolonged continuance OF
the rise and the ilnminence of n holi-
day both suggested the likelihood of u
profit taking movement. Spectators
as Il rule are avcrsc to leaving their
money tied up in the stock market over
Il prolonged holiday. and loans made
today carry over until Wednesday
next. The London market this morn
Ing showed depression on the eve of
the holidays. and this emphasized the
impression OF yesterdays rather sharp
selling movement near the close here.
Professional operators, therefore. fcll
upon the market at the opening, hut
they made scarcely more than y mo
mcnery impression. Powerful support
was forthcoming at the decline and be-
fore the end OF the day the aide OF
prices had turned strongly upward
again. The existence of a short inter
est formed yesterday afternoon had
something to do with the rcsciiicncy,
as the bears We're very cimid about
leaving accounts open over the hoii-
days. The continued ease Of money
in spite of the carrying over of loans
until Wednesday and the favorable
forecasts of the bank statement gave
the final flip TO the market and it closed
animated and strong ut about the top
level. the late profit taking sales being
confidently absorbed. Northern Pact
fc sold eX-dividcnd and recovered
strongly from yesterdays late rcac-
ton. but the top price was 81. which
was short of yesterdays price by
half point. The extraordinary spccula-
tion in Northern Pacific is based on
the benefit 10 accrue from tho retire
mcnt of the preferred stock Canceling
its privileges to share net earnings in
excess of 4 per cent. on the common.
This called attention TO various other
common stocks, whose preferred stocks
are limited by <hc terms of the issue
in their dividend rights. Atchison COM
mon and Denver ard Rio Grandc COM
mon, Union Pacific ana Southern Rail-
way were thus affected. There was n
renewal of the advance In ST Paul and
Southern Pacific was lifted above it's
former record price 10 near IA. Sugar
had lis period of strength. and Brook
Ign Transit rallied strongly after carly
weakness on account OF the statement
OF earnings for November. All OF these
movements were more or less mnuipu-
lntive, but the speculation showed the
same readiness as for some cirnc to
follow quickly any marked leadership
Tine indications are that the movement
of currency this week has turned
strongly in favor of New York. ana
the estimates of the amount received
on balance for the direct movement
by express run up 10 over So 600 900. In
addition the banks outside Of New
York are known to have continued to
lend heavily on the stock exchange
during the week. This gave rise to the
belief that the bank statement tomor-
row will show another heavy decline
in deposits as the outside banks in
placing loans here drawn OH their de-
posts in New York banks. n decline
n the deposit item would. of course,
quirements TO the benefit of the sur
plus.
The bond market continued active.
but there We're some reactions on
proft-taking. Total sales, par value,
$4,1G0.o00.
United States SIS. old As ana SIS de-
clined Y per cent. The new Is ad-
vanced 4 per cent. on the last call
Total stock sales today were lie 600
shares
New York, Dec. standard oil. SIS
@S2i
New York Dee. l.consolidatcd gus
closed at 1919.
Baltimore, Dec. 2i.-seaboard com
mon, 10SSGl0la; preferred, 2SHG2SM
Bonds, As, TEX.