Daily inter mountain., 1900-12-04
FINANCIAL;
COMMERCIAL.
DAILY RECORD OF THE EAST
ERN STOCK MARKETS AND
TRANSACTIONS.
REPORT OF THE NEW
YORK STOCK EXCHANGE
Railroad Grain and Produce, Woo
and Other Northumberland
Review Of Trade.

New York. Dec. 3.-Speculative activity
continued rather depressed in stocks to-
day. Business was on diminishing
scale and lacked even the isolated fea-
lures of activity and strength which gave
it character on different days last week,
when the tendency to contract dealings
was already manifest. The opening of
congress and the presentation of the
presidents message are looked to by ira
dition to supply motives for moving
prices. but it can hardly be said that
any general influence was exercised on
prices by them today The message was
made a device by professional traders to
effect some movement in the steel stocks.
That is to say. aarmist rumors were
current before it's appearance on the
stand taken on the question of the trusts.
The stocks proved vulnerable to the bear
attack and the decline brought out con-
siderable offerings Of long stock, effect
ing a decline at one time in Tennessee
Coal of Az points and In Steel & Wire Of
3A points. These were the weakest
stocks ,and they rallied on short cover
ing TX and ~ points respectively. On
the other hand. Sugar was fairly buoyant
rising at one time 3h points and closing
with net gain of 2H points.
In the outside market Standard Oil sold
behind it. The upward rush of more
than points in Pacific Mail was made
at the opening and was prompted by the
general concurrence in the views report
ed from the party leaders In Washing
ton as to the prominent place given the
ship subsidy bill in the party programme
for the session. There was quite large
short interest, which emphasized the rise.
The same was true when it recovered it's
Saturday loss with the approach Of the
dividend meeting. The dividend Meeting.
however. was postponed from today and
the stock became quiet.
The railroad list was irregular. Balti-
more & Ohio suffered sharply on account
Of the legal proceedings to enjoin the
payment of the dividend on the common
| stock pending the decision of the rights
of the preferred stock to share equally
with the common stock in dividends over
per cent. There were also conspicuous
stocks in the railroad list which gained
sharply. including Pennsylvania as the
leader. Notwithstanding the reduced ac-
tivity, there was a sharp hardening in
the call money market to per cent. late
in the day. at which price 1t needed
| 81, ,OOO, 900 to meet the demands Of belated
borrowers who had held out for better
| terms. This served to empha size the ef-
| feet Of the bank statement. Neverthe-
| less the common belief in the important
| features of the statement was due to the
| temporary provision for the Dec. 1 pay
| ments. the trust companies calling loans
| for that purpose. The trust companies
| increased their cash deposits with the
| banks in order to draw on them 1t is
believed the disbursement of December
| dividends will soon come back to the
| market but the renewed large demand !
for currency from the interior is very i'm
portant. The absorption of bonds con-
tinued large and important and prices
were generally higher. Special features
We're Chicago & Alton, Kings County As
and the issues of Norfolk & Western and
| Union Pacific.
U. S. new AS declined II per cent. on
| the last call.