Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-12-29
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange, Bonis, Grlla,
Cotton, Provisions. Etc.
These Are Closing Sales
Each Day.

new York, Dec. 28.-The history OF
today's stock market does not mate
rally diner from that of succeeding
days for a long time past. That is to
say, selling to take profits came on the
market like a flood in the opening
dealings, and the professional bears,
constantly watchful for the first sign
or the reaction, which they know must
inevitably come, offered prices down in
an attempt TO dislodge long stock.
Iheir efforts were defeated. as they
mad been on many previous occasions,
py the supporting orders which came
INTO the stocks and new points of
strength which were confidently mar
shaled from the stocks which have not
yet enjoyed any considerable rise. The
point wherein today's market differed
from those of recent stock exchange
history was that the profit taking was
renewed In force before the close and
the unsettled condition continued until
trading ceased, prices at that time
showing wide declines from the best
and i'll some cases being well below
last night. There were no remaining
points of strength to sustain the mar
ket in this late break, the ingenuity
of the traders having apparently failed
them or their industry in seeking out
new stocks being overcome by very
WEAKNESS. Once again, the oft recur-
ring cry OF q year-end squeeze in the
money market was raised this morn
ing in connection with the opening at
tacks on stocks. Loans today on the
stock exchange carry over until Mon
day, but this fact coupled with the
year-end requirements failed TO create
ripple of trouble in the cali loan
market. Only at the opening was six
per cent. asked, and the rate declined
from that point. A. strong bank state,
ment seems assured tomorrow, in view
of the gain by the banks during the
week from sub-treasury operations of
$2,575, 600. and an estimated gain on the
interior express sefeHaent-ef-nearly
S3.000,000 more. The failure of the
money market to harden was the occa-
sion OF fhe strong rally from the open
ing break, in which Peoples Cas-
Brooklyn Transit and Sugar were
forced down from tx to points. The
striking feature of the buoyant mar.
ket which prevailed during the middle
portion of the session was the incon-
stancy of the strength and demand for
special stocks. A rapid price move
men tin an individual stock would be
followed by sharp reaction, while
the speculative demand would Shift
hurriedly to other quarters rapidly
bidding, up prices 1 or 2 or points.
Sometime pools had no difficulty in
liQuidating their holdings at a hand
some days profit. The list of stocks
cludes many of the high grade rail-
roads, as we'll as those known in stock
exchange parlance as cats and dogs.
An incident of the day was the rise In
st. Paul above Burlington. This SUI
premacy was contested. the friends of
Burlington rallyng the stock again TO
above st. Paul. but the latter stock
closed within n half of the top and x
above Burlington. The late reaction
evidently was due merely to n general
desire to convert paper profits secure
ly into cash.
The demand for bonds was not so
conspicuous as yesterday. but there
were strong points in the market.
Total sales par value, $5a25 900.
u. S. old AS advanced x. refunding
2's e and IS and SIS Il per cent. on
the last call.
Todays total stock sales We're 1,lGs,-
500 shares.
New York, Dec 2s-standard OIL
SOS@S1O.
Baltimore, Dec seaboard com
mon. 10@10h; Seeboard preferred 27la
GETS; bonds, tours, 70@71.
New Yrok, Dec. 2s.-Consolidated
Gas closed 1851.