Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-12-14
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange, Bon1s, Grlla.
Cotton, Provisions, Etc.
These Are Closing Sales
Each Day.

New York, Dec. 13.-The stock mar
ket today was less under the influence
Of the strength OF Individual stocks
and more under that OF the coming eX-
tgencies of the money market. Even
the sensational and buoyant rise in the
Erie stocks in the last half hour hard
~ served to more than check the liqui-
dalton which was In active force in the
general market Twenty eight years
Is given as the elapsed period since an
Erie Company stock sold as high as
90 on the stock exchange. To-Day the
first preferred soRi ut 529s in the late
dealings. Extreme advances for today
In the company's stocks were for the
common 3h, for the first preferred Az
and for the second preferred 53s. The
authoritative announcement that Il
contract of sale had been signed be-
tween the Pennsylvania Coal Company
and syndicate headed by the central
power in the anthracite trade was the
cause of the buoyancy. The bid for
pennsylvania Coal was rapidly adj
vanced without bringing out any stock
except an occasional odd lot at wide
intervals until n lot of 100 shares was
sold at T30 and another at 740. Last
night the stock was so bid and 615
asked. The market for this stock has
been purely nominal, and ii sold at
a5Oh last month, which was the high
est price Of the year. Notwithstanding
the notable effect of this operation on
the Erie stocks and efforts made by
spectators TO emphasize the general
benefit to result to the anthracite in
dustry as a whole. the effect was very
small even on the other anthracite
stocks, which were none of them more
than steady. Some frmness was mani
Test in the Southwestern railways on
buying seemingly in the interest of the
Dull pool. The effect was most notice
able in the Wabash securities. Other
wise selling was general throughout
the list and those stocks which have
persisted in their upward movement
this week were as rule the weakest.
This was noticeably true of the stock
or the steel group, in which declining
ran up to points or over. Sugar and
the New York public utilities fell from
about 2 points to 81 in Consolidated
Gas: number of other prominent
stocks, both in the railroad and indus
trial list. fell from l to 11s.
The large. absorption of special
stocks earlier in the week by power
full financial interests with independent
resources has encouraged the hope
among speculative operators that some
relief was to be forthcoming from the
threatened stringency in the money
supply. At one time 1t conferred in an
expectation that the Treasury Depart
ment would buy several millions OF
pohuS ioi tIle SinkIllb tuna. Inc lnCOn-
slStency was pointed out of bidding for
government bonds by the treasury at
the same time that they are inviting
conversion into the refunding 2's,
which is to continue until December
81. Another hope was that the rise in
the money rate here would bring gold
from London, but the former tendency
or exchange late yesterday and more
emphatically this morning has brought
the speculative contingent face 10 face
with the certainty of very weak bank
statement on Saturday. Already the
sub-treasury has taken out over ST.
100000 from the money market, COM
pared with n surplus reserve last Sat
urday of only S5,7Ol, 125. On Monday
next the checks in payment of the
Standard Oil dividend will pass
through the clearing house, involving
the disbursement of $lO.oO000O. The
preparation for this disbursement Is
likely to make additional inroads on
available credits and so increase re-
quirements.
The bonds of the Erie Company and
some of the Southwestern railroads
were in demand today. Otherwise the
bond market was rather reactionary.
Total sales, par value, $4.7S5, 900.
United States 2's advanced X and
old As 4 and 5's u per cent. on the last
call.
Today's total stock sales were 100. 800
shares.
New York, Dec. 13.-Standard OIL 795
@S00.
New York. Dec. ls-Consplidated Gas
closed ISIS.
Baltimore. Md, Dec. 13.-Seaboard
common. 1O%Ql1; preferred. 2SM@2S7s.