The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1900-12-14

NewYork, December 12.-Activity in a
large number of usually dormant Sc
c~urities was taken by traders today to
demonstrate increased interest In the
stock market on the part Of the put
side public. Gains in these properties
were more extensive than in the usual
market leaders and extended to 4 points
in some cases. During the forenoon
there was great and
strength. with speculative interest ra-
dating from on group Of stock to an
other
Factors which contributed TO the
days rise included traffic statements
for the first week of December. embrac-
ing all sections OF the country and
showing substantial increases.
The fact that as yet money rates nave
not exceeded 6 per cent. and hat today
the highest made vas 81, which taper
ed of to 4 per cent. before the close,
rendered spectators less uneasy.
| With the absorption by the SUBJ
treasury on internal revenue collections
n transfers to the interior, the banks
thus far this week have lost 5000. 900.
Rates for sterling exchange continued
to yield, 60-day bills declining u 1t is
100 NA% "a n
Of gold is being considered by a prom
inent institution on the basis of allow
ing interest on the money while in
transit.
With this relief apparently in sight
should conditions become stringent in
the money market, speculative pools
became active n forced considerable
covering Oh short lines.
The market for Americans abroad
was described as buoyant and the ar
bitrage houses bought about 80. 900
shares on balance for London This
demand was primarily responsible for
the in sterling exchange
rates. as offerings of commercial accep-
tances were only moderate.
At the outset of business the coal
stocks were the principal features and
generally got we'll above last nights
close on an enormous emand. These
properties, later on, showed the effect
of heavy oscillations. Heavy buying
developed in the slow stocks owing to
encouraging reports of the trade out
look. Tin Plate made the extreme rise
of 2B but Steel and wire was the most
active n a good second with a gain
of 2k. Satisfaction over the annual
report published by the Brooklyn
Rapid Transit Company promoted a
demand for the stock and strengthened
all the transactions temporarily.
There was very heavy buying at in
tervals in the grangers, Paciics and
some of the southern and southwestern
stocks with Burlington, Kansas and
Texas preferred and Louisville espe-
cially prominent.
During the early afternoon, after
foreign buying had ceased, the demand
showed signs of exhaustion and prices
were inclined to yield. Not much i'm
preston, however, was made on prices
when the traders realized, and there
were a few strong spots which kept the
general market pretty we'll in check.
Universally large dealings in the Lake
Erie and Western stocks caused a rise
OF 4 and 81 respectively of the COM
mon and preferred, and New York,
Chicago and ST. Louis first preferred
jumped 4 points to LOG. An increase of
" per cent. to 2 per cent. in the semi
annual dividend on the Minneapolis
and ST. Louis common stocks resulted
in a rise Of 2k in it's price.
In the final hour a raid was made on
Tennessee Coal. and the stock broke Az
per cent. on a rumor that the directors
were in session n had passed the
quarterly dividend on the stock. This
movement unsettled the entire market
and prices fell away rapidly, averaging
a point for the most prominent rail-
roads and extending to 2R in the spe
c%ialties, Tin Plate being most effected.
When it became known that the report
of dividend action OF Tennessee Coal
was unfounded the stock rallied {"
points and all other stocks recovered
somewhat, speculation leaving off
strong again and active.
Business in bonds was very heavy and
notable strength was displayed by
Kansas and Texas issues. Reading As
got up to 95A early, but lost practical
ly the rise in sympathy with the de-
cline in the stock. Realizing sales de-
pressed the Eric icc11eC oil dow 3Ia
general As closing a point off. The
market otherwise was uninteresting
and irregular. Total sales, par value,
were 5000, 900. United States refunding
rs registered advanced Is and new AS
n per cent. on the last call. Today's
total stock sales were $40, 300 shares.
Standard Oil 100 to 1876.