The age-herald., 1901-12-05
STOCK DEALINGS
 ON LARGE SCALE. Market Opens Firm and Later
 Gathers Strength COPPER HAS BAD INFLUENCE Banks Have Lost to the Sub-treasury Upwards of $5,ooo,ooo Gold Dur
 Ing tho Week-Bonds
 Were Strong.
COPPER HAS BAD INFLUENCE

New York. December 1.-The stock mar ket opened with firm tone today ana gathered considerable strength during the course of the day. The rise did not en- brace the entire list, however, ana the exceptions to the strength were among the very prominent stocks. One stocK or group of stocks and then another were taken up and lifted in price
 The dealings in these active stocks was on very large scale but the aggre- gate of the days dealings indicated that the market was not very broad. The general sentiment among the speculative community was of satisfaction over the contents of the Presidents message and over the tone of comment on that docu- ment in the press. The recommendations of the secretary of the treasury looking to reform of the banking currency were also viewed with satisfaction in the finan- cial district Copper proved an extremely disturbing influence and was potent factor, though a negative one, in the strength of the market. The trading continued to reflect hesitation, while the course of this stock continued cratic but when the firm support at about last nights level was perceived the general tone of the market became decidedly more confident. The trading in Amalgamated copper was still on very large scale The stock nearly touched the low record established yesterday for moment dur ing the morning, but rallied slightly dur ing the latter part of the day and closed with a net gain of 21a. The renewed break in the London copper market was ig- nored.
 The fact that no engagements of gold were made for export tomorrow served to relieve some apprehension that the money supplies would grow stringent Dy drain to that quarter.
 The banks have lost to the sub-treasury already upwards of $5,000000 this week, Including the payments for the gold ex- ported on Tuesday. But the expected drafts for nearly 100000 of Australian gold, of which the sub-treasury was noti- fled over a week ago, have not yet been presented. Application has been made for the withdrawal of S300O,O00 of govern ment bonds on deposits to secure na- tional bank circulation, which is the maximum allowed for the month.
 The eagerness of the banks to with draw these bonds, and in consequence to reduce their circulation, is evidence that the premium offered by the govern ment for the redemption of the bonds is the impeling motive rather than the needs of the money market for additional supplies. The monthly statement of the money in circulation in the country by the treasury department shows an in- crease of nearly s5,000,00O during No vember in spite of the $1S00 ,000 of gold exports, and slight decrease in the na- tional bank circulation. Anxiety over the money outlook was, therefore, not in ev- idence today in spite Of a deposit at the subtreasury for transfer to New Orleans of $35,000000. The most notable point of strength in the days market were among the Gould stocks, led by Manhat- tan, which rose an extreme 45s. This stock served as a leader also of the striking gains in the local traction. Gen eral electric rose 3A
 There was many gains of 1 to points in the southwesterns Grand Trunk, coal CTS and industrials. Notwithst anding the satisfaction professed over the trust" paragraphs of the Presidents message the trans-continental stocks and United States Steel were laggards in the ad- vance Great Northern preferred lost IF and Northwest 67s, with rally of points. The market closed slightly irreg- ular, but near the top for many stocks.
 Speculative bonds were strong, but there was irregularity in the general list Total sales, par value, S2,765000
 United States refunding 2s advanced H. and the Ss registered h per cent on the last call,
 New York Stock Market.