The age-herald., 1900-01-03
GOOD SHOWING
 AMONG STOCKS First Bushes of the Year Ac-
 cepted Favorably BEARS MADE BOLD ATTACK Swooped Down on Brooklyn Transit and Lowered the Price Three Points Soon Became Alarmed : s and Fastened to Cover
BEARS MADE BOLD ATTACK

New York, January 2-The strength oe- veloped in today's stock market in the hrse business day of the year was accepted Ia yorably by all spectators. The selling to take profits in the first hour of the trading was in fact on a very large scale, sharp advances at the opening helping along the process.
 Last weeks persistent demand and the large gains in price were paradoxical in Wall street eyes, and the professional trad CTS were very persistent in selling the mar ket on amy advances.
 This element was watchful today for any opportunity to swoop down upon the mar ket and break prices to point at which they could buy in at a profit. When the profit-taking became manifest they made vigorous attack on Brooklyn Transit, fore ing it down over points and bringing the rise in the general market to halt. So far the course of the market was about as had been expected.
 The tone of the money market was firm at the opening and the demand incident to the active speculation in stocks pushed the money rate up to Il per cent. during the cay. Thus, all things seemed to confirm the expectations of the reactionists, who, however, failed entirely to properly gauge the outside demand for stocks. This ab- sorbed the sales to take profits and then proceeded to swallow up all other offerings ayailab ble. The bear party became alarmed at the proportions of the advance and hast ened to cover. The money rate ran down later in the day to 3 per cent and the tone Of stocks became, buoyant
 The most striking gains and the greatest activity were shown in the industrials, of which Sugar was the leader The dron and steel stocks, especially the common, were also in eager demand at advancing prices, and the strength spread to other indus trials At the same time there Was con fdent and we'll distributed demand for the rsflroad stocks.
 The grangers showed the largest advances owing to the rebound from last weeks weakness due to the St. Paul and Burling- ton sta atements of earnings and the trunk lines, including Baltimore and Ohio, N. & w. and the great trunk lines were all notably strong. So were the central traffic lines, such as Pfrtsburg Cincinnati, Chi cago and St. Louis, C. c. C.. & St. L. and the Lake Erie and Western stocks. Chesa- peake and Ohio failed to respond. The striking declines in discount rates abroad aroused some confidence that the export movement of gold will not extend much furtner, though the financing of the South Ahrscan war expenditures must be reckoned with and may have been the motive of strenuous efforts that have been making to bring about easier conditions in the Icndon money market. As for the do- mestic situation the movement of money was evidently turned in favor of New York. New York exchange at Boston went to sharp premium today. An accepted authority estimates that the total dis bursemepts for January this year. taking into account securities of banks, insurance companies and such, will foot up Sl50, ,0O0,- O00.
 There were sufficient points of weakness in the bond market to give an irregular appearance, although the general tone was strong. Total sales par value, $1 255 000 United States Ss declined M in the bid price.
 New York, January 2.-Money on call firm at to 10 per cent: last loan 8 per cent; ruling rate, per cent
 Prime mercantile paper, 6 per cent; sterl- Ing exchange firm, with actual business in bankers bill, 4.s7Aand 4.871s for demand, and 4.S2A@4. S2tz for sixty days; posted rates, 4.S3@4 SS14; commercial bills, 4.Si@ ASIA
 Silver certificates, 5S1z@591s; bar silver, 5S7k: Mexican dollars, ATE. %
 Government bonds weak: state bonds in- active; railroad bonds irregular.
 (By Private Wire to Talbott & Palmerl