The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-12-14
stocks, Bonds and Money

NEW YORK, Dec. 13.-Stoclls scored ute
notable recovery in today's market.
The market was very irregular during toe
early portion of the day and distinctly
weak in spots. This was due to the resi-
due of uneasness coming from yesterday s
events and the fear that money Strlngency
would develop during the day, incident
to the carrying over of loans until Mon
day. Borrowers on call paid as high as
81a per cent early in the day, but they
had no difficulty in obtaining accommo-
dationS at the prevailing rates. There
was no further calling of loans by the
banks or forcing of liquidation in conse-
quence, as was the case yesterday. The
call loan rate yielded as the larger de-
mands Were satisfied, and fell below 6
per cent at the close.
Perceiying the course things were TAX
ing. the bears began to buy to cover
their short contracts, which had been con-
siderably extended in yesterdays decline.
There was some buying also by inside
interests in the various stocks, especially
during the morning, for the purpose OF
supporting. Under these influences prices
began to recover, and touched the nigh
level of the day during the afternoon.
This level was not fully maintained, but
the closing was steady and dull and only
a fraction below the top level. Yester-
days anxiety over the rumors circulated
of the embarrassment of a large fnterna-
tional mercantile house was relieved by
assurances that the trouble was tided
over. This was factor in the recovery
except for the rubber goods stocks and
United States Rubber. which lost from
l to points
The preliminary figures of the week S.
movements of cash promised a loss of up
ward of Sc, goo 000 for the banks, but the
easier tone of the money market helped
to more hopeful sentiment over the fu-
ture.
The weeks liquidation, 10th in the stock,
grain and cotton market, may have eff
fected some reduction of the loan account
of the banks. The payment Of the Jan.
1 government interest is to begin Mon
day, and the Standard Oil dividend,
amounting to IS, 600 GOO, is also payable on
that date. On Friday $5,00O,000 is payable
on account of the dividend on United
States Steel common stock. The weeks
movement of cash shows no gain of any
significance from the interior on the eX-
press movement. while the transfers
through the subtreasury have amounted
to 81, $50, 600. Additional supplies of money
next week, as indicated, and relief from
the liquidation, are clearly the only fac
tors in sight to warrant the easier tone
of the money market.
Foreign exchange steadied today with
the relaxation OF the pressure for money.
while money rates advanced in London,
Paris and Berlin, the sterling rate at
Paris also falling 1 centime. These de-
velopments doubtless mean that any low
ering Of the money rate here would be
followed by further exports of gold. In
the late strength of the market gains of
l to 2 points were established among the
local traction, trunk lines, coalers, both
hard and SOFT Southwesterns and num-
Der of specialties. General Electric rose
points Anaalgamated Copper fiuetuated
feyerishly on the announcement Of the
open cut in the price of raw copper. The
stock rose to. 6S72 at one time and was
near that point several times. The low.
price was G6A, and it closed only Il high
err, a net decline of 45s.
Bonds were irregular and only mod
erately active. Total sales, par value,
81, 935, 600. United States bonds were all
unchanged on the last call.
.ss-i STOCKS.