The times. [volume] (Richmond, Va.) 1890-1903, 1900-12-09
LITTLE TRADING
IN STOCK MARKET:
Movement Of Prices in General Was
Sluggish,
INTERIOR DEMAND FOR MONEY,
This Is Regarded as Striking Er:-
dcnce of Prospcriry-Businc in
Bonds Larger Than in
Stocks-Local Market.
INTERIOR DEMAND FOR MONEY,

NEW YORK. Dec S-There was very
little active tradig in stocks to-day, and
the character OF the market remained
about the same as Tor several days past.
Tennessee Coal and some of the other
iudus1rialS which have been acutely de-
pressed during the week. continued few
erish and unsettled. Tennessee Coal fell
an extreme SIS, and recovered > points in
sympathy with the late general strength
OF the steel group. Federal Steel led the
rally, and was helped ~ talk Of dividend
distribution and OF adjustment by agree
IlIent Of the disputed points between the
great steel combinations.
The movement OF prices in general was
sluggish throughout the week, and the
bank statement had been so accurately
Torecasted that it had little influence on
The trading. II anything. prices were a
little better after the statement on the
taking of bear profits and in sympathy
with the sharp rally in the steel stocks.
but there is no change in the opinion that
the cutting in two of the small surplus
reserves at this period is n serious phase
Of the outlook from a speculative stand
point The continued interior demand for
money is regarded as a striking evidence
of business activity and prosperity How
ever. il viii Interfere just as effectively
with the purposes of persons who are
holdin. stocks on margin with borrowed
money.
The reported purchase of the Treasury
Department Ia anticipate the payment Of
over S3tntO.u0t OF January interest did not
relieve sentiment to any extent as expert
eECe shows that this manner OF relief is
cumbersome and slow in making funds
available to the open money market
Even in the stringent 1nOney market of
last fall holders OF Government bonds
were slow To collect the interest offered
by the Government in advance OF coming
due. The coming early settlements for
which the preparation has already COM
menccd involve the disbursement OF a
larger sum Of money than ever before in
the history of the country.
The business in bonds on several days
during the week has risen above the level
of the dealings in the active stock market
after election, but has at time reached
the high level of the January, 1899,
period The buying was more or less
speculative, and was specially directed to
contingent interest bonds and Junior is
sues. Gilt-edge and high-grade bonds are
quiet. United States rs declind Is, old
Is u, new as X, and 3's and IS 4 under
The call price of q week ago
The totau sales OF stodks o-daE We're
.jol 400 shares
MONEY AND NEUTRALITY-SUSPICIOUS. on
call steady at IL per cent; prime mer-
camille paper. 300 per cent. Sterling
exchange nominal. with actual business
i'll bankers bills at Si.Sols for demand and
at S4.S12s for sixty days; posted rates,
81 S2Is and 81 .SGlA; commercial bills
s.. S0a4 "a. SI34. Silver certificates. 64465;
bar silver 64i3: Mexican dollars, J04.
State bonds inactive; railroad bonds
easier; Government bonds strong
WEEKLY BANK sTATEMENT.-The
weekly statement Of averages of the As
sociated Banks shows:
Loans. SSod,442,5eo, an increase of
sf944, 400.
Deposits, ss61, OH, 700; decrease. $780,
Circulation. SSo. co.. 900; decrease. S62 100.
Legal tenders, SIS, 1oI.9oo; decrease,
S1915.i1o
specie, SIG. 500. 400: decrease, 81. $50 GOO.
Total reserves, 500, &c., 300: decrease
S6oo6, 100
Reserve required. s215,2G1,175 decrease.
fS41, a5o
Surplus reserve, $5,7o1 125; decrease.
s., 1GI, 900