Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-12-20
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange Bonds, Grain,
Cotton, Provisions, Etc.
These Are Closing Sales
Each Day.

New York, Dec. 19.-There was no
nppreciable let UP in the furious activ
lily IN the stock market today or in the
exceedingly broad and varied trading.
y quick market was offered for almost
any volume of stocks and very notable
strength continued at various points in
the list, but the burden of the profit
taking sales proved rather heavier
than for some time past and made
more general inroadS upon prices. The
market fairly turned reactionary
throughout at one time under the in
nuence of some rather violent breaks
in special stocks. Tin Plate was the
most effective of these when it sud
denly slumped 3A after a show of early
strength. a drop OF IA points in New
York Air Brake was impressive in its
way, but had little effect on the mar
ket. The reactionary tendency of the
Junior Vanderbilts developed that
spectators had been taking rather too
sanguine view of possible readjust-
ments of securities OF these companies.
cleveland, Cincinnati, Chicago and ST.
Louis, and the New York, Chicago and
st. Louis stocks fell back heavily, al
though some went up brlsily in the
morning. An effort was made to re-
claim the bull position in the final hour
ny sudden advances in Northern Pa
cif1c, Sugar illinois Central General
Electric. the Chicago Terminal Trans
Ter stocks and the Wisconsin Central
STOCKS. The advances III these above
the low point ran from to 6E. points
Prices did stiffen in sympathy, but the
speculative enthusiasm was not fully
renewed, and the market closed very
feVerish and unsettled with point or
more lost off some of these sudden
gains. Even the Erie stocks, which
have been the real backbone for some
days, came TO pause today, and the
first preferred after rising 2lh reacted
Ia with final fractional rally. There
nave been such reactions from top
prices many times before in the pres
ent movement of stocks and the real
lack In today's market seemed to be
that the new stocks which are avail
able to be rushed upwards as sustain
ing forces i'll the market are growing
exceedingly scarce. Pretty much the
whole list has been exploited in the
course of the present speculation. The
character of the market otherwise than
In these technical particulars was not
materially changed. Professional oper-
otorS are constantly on the lookout
TO take the bear side of the market
with the 'culmination of the rise. and
they sold freely on the short side 90
day, as they have done for several days
past. but they also covered largely be-
fore the close. The general bullish en-
thusiasm up to this time had proved
too much for any restraining influ-
ence. A sustained bull movement al
ways means prosperity for the large
stock market contingent whose trade
Is to operate In stocks, and coming in
on the tide of the holiday period the
present movement Is especially popu-
lar. The demands Of the speculation
upon Che money market have made no
impression yet upon money rates, Il
development which would prove an eff
fectual check upon excessive specula-
ton. London was quoted as n buyer
OF $4,000 shares of stock on balance here
today, but the true origin of this buy
Ing is open To doubt in view of the adj
Nanclng money market in London and
the failure of the dealings to affect
the sterling exchange market in New
York. The initial dealings here in the
stocks which were most affected in the
early London trading We're on an cnOr-
nous scale. In Southern Railway -
600 shares changed hands at once nj
the opening, in Southern Pacific 5000
shares, in Kansas and Texas preferred
1880 shares and in Erie first preferred
1000 shares. The higher money rate
III London today was effective in turn
Ing the continental exchanges in favor
of London. but 1t is the common ex-
pcctation shat the Banl< OF England
discount rate will be advanced tomor-
row as the open market rate has risen
well above the bank rate and borrow
ers are resorting very largely TO that
Institution
The bond market was active and
strong. Total sales, par value. $780,
000
United States rcfunding 2's advanced
= and new rs declined q per cent. on
the last call.
Today's total stock sales were 1,414,-
700 shares.
New York, Dec. 10 = Standard Oil,
S20GS24
Baltimore, Md, Dec. 19.-seaboard
common. 10hGl0A; preferred, 2Sla.
Bonds, As. 1875.
New York. Dec. 1e.--consolidated Gas
closed 1909.