Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-12-21
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
'tocks, Money, Exchange, Bonds. Grain.
Cotton, Provisions, Etc.
These Are Closing Sales
Each Day.

New York, Dec. 20-The stock mar
fct to-day did not vary materially in
character from that which has pre-
waited for many days. Except that
some of the stocks which were rushed
upwards. as well as some of those
which yielded under the selling pres
sure to realize profits were different
from those on previous days, the mar
ket was the same. Profit taking was
palpably on an enormous scale, and
was not without effect on prices, but
The inroadS made were not serious, and
me offerings were easily absorbed,
whiie TINS partial weakness in the mar
ket did not i'll the least impair the
eager rush TO buy stocks which showed
any disposition to advance. The day
ended with the market more generally
reactionary than for some time past
under flood of selling TO take profits
In Northern Pacific and other stocks
which had shown the most aggressive
strength during the day. The rush to
sell Northern Pacific was caused by the
puDlcation IN Il news bureaus bulletin
OF the statement that plan had been
perfected for the voluntary retirement
OF the preferred stock in January by
exchange for general lien 3 per cent.
bonds, 40 per cent. of the bonds being
given for the preferred stock. This
statement was not Vouched for as by
oiiicial authority, but it caused a sud-
den drop in Northern Pacific to sig,
the price having touched S5h or S6%
points over last night. This move
ment in Northern Pacific was the
main feature of the market. but there
were various other important move
ments which seemed to have relation
to II, including the Wisconsin Central
stocks, Pierre Marquette stocks. the
Erie stocks ana st. Paul. The street
was full of rumors of plans for comb-
nations looking TO n new trans CONT
mental line and to the consolidation of
interests in Northwestern territory.
me gains in the group mentioned ex-
Tended all the way from . points up to
t6% in Northern Pacific. There was,
besides, vigorous upward movement
In Missouri Pacific, which carried it
AA points over last night and caused
o. revival of many old rumors of plans
Tor extensive consolidation amongst the
LIQUID southwestern Railroad compa-
mes. A rise in Union Pacific to rs
seemed to be due TO an attempt to
ADJUST the discrepancy in value be-
tween that stock and Northern Pacific.
Illinois Central rose buoyantly in the
morning 3A per cent. on II belated de-
mand to secure the rights of SubscriD-
ton at par to the proposed new stock
issue. which are limited to stockhold-
ers or record to-day. Sugar was one
OF the features among the specialties
with rise of Sas, which was attrib-
uted to turn against the shorts by
the calling in of long stock 4 rise of
in general electric and full recov-
cry OF yesterdays violent decline i'm
New York air brake were on very light
dealings and attracted very little at
tentton. Quite a number of obscure
low priced stocks were awakened from
long dormant state, and moved up
WarQ from to 4 points, with no other
apparent reason than 10 adjust their
prices to the higher level recently at
tanned by the general list The market
continued very broad but the reac-
tionnry tendency was quite marked
through Il large portion of the list in
Guiding the Vanderbilt group The d-
rectors meetings for the various COM
panies in this group to-day failed TO
bring any confirmation of the recently
varied rumors of stock establishments
ana retirements, pointing conclusivcly
to the manipulatiVe character of these
rumorS. But this seemed TO have very
nttie erect on the credence given to
lo-uays extensive crop of new rumors
The maintenance Of the Bank Of Enr-
lands discount rate at 4 per cent. had
a bracing effect on the market. and the
continued ease OF money here failed to
oiier any check to the active specula-
ton
The market for railroad bonds CON
tinued active and strong without i'm
portant exception. Total sales par
value, $i,9l5,0O0
United states IS. old as and SIS adj
Nanced Il and new rs declined u per
cent. ON the last call
To-day's total stock sales were 5Si :
eco shares.
New York. Dec 2o.-standnrd Oil.
Sl5WS2o
New York. Dec. 2o.-consoldated
Gas closed 19i.
Baltimore. Dec. 2o.-Seaboard com
mon, 10h@ioss; Seaboard preferred,
2S'a; bonds. four's, 72la@72A.