Evening star., 1901-12-14
Bank y Statement Wa. a Saving
featdrs for Stccks.
RALLY : FOLLOWED PUBLICATION
Copper9sStrupk a New Low Record
I, { This Morning.
GENERALa5M MARKET REPORTS


Special Dispatch. to The Evening Star.
sNEW YORK, December T4.-Negative In
fuences making for good permitted a
stronger cl losing In today's stock market
than had been generally expected. The cut
In the price OF Copper, while forcing Anal
gamated temporarily under its previous low
level, failed to- exert any pronounced infiu
ence on the general market. The evening
up Of traders contracts was In progress
throughout the morning and such contracts
being mainly in the short account helped to
hold prices. ifr
The volume Of business dropped off about
the time the bank statement came out in
recognition Of it's special significance in the
present condition Of the money market.
The showing made was considerably bet
ter than had been feared, and prices raj
lied in consequence. A decrease of s11,
17S, 100 in loans is largely responsible for
the showing made, and clearly reflects the
extent Of the weeks liquidation in stocks
as the result Of the advance in money
rates. sre~e
The curtailing Of the loans and a loss Of
$5,1OO,O00 in lawful money, nearly all Of 1t
In specie, finds reflection in decrease Of
$15, 799, 800 in the deposits. The net result
reduces the surplus reserve holdings ST.
1o2,6oO, or to a total Of $5,455,025. The
statement, considered as a whole, and in
the light Of ultimate advantage, is by no
means discouraging. There is still room
for liquidation, however, and there is every
prospect that an irregular price movement
and high money rates will force it during
the balance of the year.
To have it accomplished as orderly as was
done this week should cause no unusual ap-
prehension. The financial housekeeping
period has come, and neglect Of duty
would even be more disturbing than timely
attention to the needs Of the season.
The prepayment Of government interest,
beginning today should help the local money
situation next week, since the sum to be
Hsbursed in this city will, 1t Is estimated,
aggregate $3.50O,O0O. In addition to this
payment one OF two large corporations Will
anticipate January interest and dividends.
The week closes with increased confidence
In the ability Of the banking interests to
shows no signs OF swerving from its deci-
sion to remain out of the market until after
the new year.
Next week should witness the end Of all
mystery as to the next dividend on Anal
gamated Copper. and once this questian Is
disposed OF that property should relapse
into. position less hurtful to the general
A reduetinn of the dividend may be made.
but the passing of 1t altogether suggests
even a more thorough disregard for fnan-
cial honesty than the interests credited
with the dselins.are supposed to possess.
GOOD buying Of Union Pacific by London
and local houses was a feature Of the day,
and again twas said to have been inspired
by the more hopeful prospect for the sue
cessful carrying out of the Northern secu-
rites project. There has been a decided re-
Taxation In, the efforts to thwart this under
taking and the railroad interests are en-
eouraged In consequence.
The better demand for the Gould proper
ties fS due an great measure to the more
encouraging outlook for closer union OF
the several properties Ia that group. Some
Of the best, buying in the market goes into
Missouri Pacific and Wabash, while the en-
tire group is notI lacking in support of an
inside character.-There are numerous spe-
ctalties In the market which are assured of
activity once conditions favor it, but the
time for public participation has not come.