The times. [volume] (Richmond, Va.) 1890-1903, 1901-12-10
STOCK MARKET
WAS IRREGULAR
Threatened Break Followed by
Scramble of Bears to Cover.
FURRY IN CALL MONEY RATE.
Was Bid Up q. One Time 10 per cent-Latc
in the Day Advance Began, and the
Close Was Active at A5ou:
the Best.

{Dy Associated Prcss.)

NEW YORK, Dec. 9.-Theres was live
~ shaking out of speculative long &C
counts in stocks to-day. accompanied by
q threatening break in prices. which
caused some alarm during me early
hours of the day. In the afternoon there
was a sudden about face in speculative
sentiment, and a disorderly scramble en-
sued among the bears to cover their short
contracts. -Amalgamatcd Copper contin-
ueC maintain it's CONSPICUOUS position,
the market to-:ay. The opening sales
carried the stock pack ~ to 20, and this
proved the low level of the day. but the
demand dropped off as often as the stock
approached Saturdays level although
determined support was always offered
as it neared IS. The bears became alarm
ed at the action of the stock, and In the
last hour rushed the price up to II in
their frantic bidding amongst each other.
The support offered to copper at the
opening break prompted supporting or,
ders elsewhere, and the market sted,hsd
mcmentarily, quite a list OF lmpo ant
stocks rising a fraction over Satul .ay.
With rise in the call loan rate to I per
cent, however, SPECTATORS took fright
touched the low point of the day IN tLls
slump although individual stocks were
forced down under subsequent attack,
carrying the whole market with them
Paul was notable weak and fell rs i:nder
Saturday. Manhattan was also NlSFt.
ously attacked and driven to ~ IAuer
Saturday. There was a Food Zeal Oh "e.:!-
ing of loans. but in seeking new accom-
modations borrowers bid the rate up upon
themselves to q higher point than Was
vclopments. The ruling rates We're 6 Ter
cent, or even 90. and there seemed to be
an ample supply at that figure the pre-
ception of TINS fact emerged about the
.11t.oY1 a
gan its rally. From a general level! of a
point or more below Saturdays prices.
the market began to move upward ana
gained momentum. There was a slight
reaction before the close: but, the advance
was renewed. making the closing active
and strong at about the best
The GouldS railroads, Manhattan, New
York Central. Sugar, Pacific Mail and
General Electric. were all prominent in
the rally, and the day closed with net
gains except in a. few instances The
change. both sterling and continental,
which precluded all idea of gold. export
for the present. There were no deposits
of currency at the sub-Trcasury for
transfer to the interior to-day, but the
speculative activity continued in the grain
and cotton markets.
Railroad bonds weakened in sympathy
Wan stocks, but became irregular later.
Wabash debentures gained nearly two
per per cent Total i: sales par value, S51s3,-
changed on the last call.
Total sales Of stock for the day were
LIPS, 800 shares.
MONEY AND ENCHANGE-Money on
cali closed firm at 5G17 per cent: last loan
81 per cent: ruling rate per cent;
prime mercantile paper: 4l2@o>per cent
actual business in bankers bills at
S4.SGIs for demand and at s4.S33S04. s3a4
for sixty days; posted rates. s4.s41@sG4 s.