The Savannah morning news., 1901-12-12
STOCKS AND BONDS.

New York, Dec. 1.-THE usual year
end activity of the money markets of
the world was the feature in to-day's
stock market to the exclusion of al
most every consideration. The ~darken
ing prospect of the money outlook was
more perceptible in New York than in
other markets, and this was partly due
to the fact that New York was called
upon for relief of other money mar
kets.
Engagements were made of gold for
shipments to Berlin of 100000 anv
nounced, and as much more rumored,
the reported shipper declining to con-
firm the report, and of over 100000 in
French coin to Paris. Deposits at the
sub-treasury were made for transfer
to Chicago of $650,0O0 and to New Or
leans of $150000 This depletion of
nearly $2,000,000 in cash was offset by
a payment from the sub-treasury of
$1,549,141 in redemption Of United
States bonds. But this was not suf-
fieient to prevent late furry in the
call money market again, when be-
lated borrowers sought to cover their
needs, which ran the rate up to 10 per
cent. The sub-treasury had already
taken from the market over $4,000, 900
before to-day's operations including
deposits for transfer to the interior
The hope that5at higher money
rates here would attract prompt re-
mittances from the interior is not suf-
ficient to overcome anxiety, in face of
these officially reported transfers to
the interior. 1t was reported to-day
that Chicago banks had loaned some
money on call on the Stock Exchange,
oil a In nIyae
the drawing upon a New York CORE
spondent, and is therefore an unset
Ting influence in the local money mar
ket The course of the loan account
of New York banks is beyond provis-
ion in advance of the weekly bank
statement, but last weeks unexpected
increase in loans keeps sentiment un-
easy, as various syndicate operations
remain to be provided for.
Belief in the purchase of the Poca-
bontas Coal Company by Norfolk and
Western continues prevalent in Wall
street. in spite of lack of official con-
firmation, which would involve large
loan operations. The sharp decline in
Norfolk and Western was connected
with this belief What loan operations
may be involved in providing for the
payment of the IS 600 900 Standard Oil
division on next Monday is not known,
but the fact is patent that the credits
available in the New York money mar
ket are undergoing construction, and
f1urries in the money market of fire.
ouent recurrence are looked for until
the end of the year.
There was some appearance of nurs-
ing the market on the part of insiders
here and there, so as to suffer as lit
tie damage as possible from the inevi-
table liquidation. The comparative
frmness and resiliency of Amalgamat-
ed Copper was an effective aid in this
purpose The dealings in that stock
again overshadowed the whole market.
the price rising to 72A and falling
again to 69ls, closing with a net gain
of *. There was a midday rally when
the redemption Of a large block of gov
eminent bonds was announced, which
carried many stocks above yesterdays
level. Lackawanna rising Az and Del
aware and Hudson, New York Central
and Sugar about point. Prices gen.
orally fell back to the lowest in the
late selling movement and closed not
much better.
Bonds were active and irregular. To-
tai sales s3,470,000. United States old
and new is and the SIS advanced "A per
cent. on the last call.
The total sales for the. day were
Gs2, 200 shares, including Baltimore and
Ohio, 300; Atchison. 81 900: Erie o.
600: Louisville and Nashville $500;
Manhattan 24,4OO; Metropolitan Street
Railway 1900; New York Central 1920;