The age-herald., 1901-12-31
MATTER OF MONEY IN STOCK MARKET Where Were a Number of De-
 pressing Factors PRICES DROPPED ALL DAY The General Market steadied Under the Influence of the Strength In
 Reading-The Bond Mar
 ket Was irregular.

Nef York, December 3O.-Today's stock marl4t was largely matter of money supplies The general rate for renewals was 2 per cent There were a number of other Expressing factors which reinforced this motive for selling stocks. and the consequence was general declining ten dency of Irices during the morning. Later In the day the money rate became easier and under offerings by bankers, among whom, J. Pierpont Morgan & Co. were 'onspiqr5uA,. 4 very upgent demand de- Veiopgd for Reading which caused an ad- .rffsee of 4 points in that stock at new high record price at each step of the ad- vance. The dimensions of tht trading in The stock were such as to shdy that only the largest financial interests could con- duct it. The individual blocks taken ran all the way from 1000 to 5000 slares. The general market steadied underline infiu- ence of this movement, but wassingular- ly unresponsive even in those ste,ks most nearly allied in interest to Readag with Inc exception of New Jersey Central, which made an advance of 5B Rn light transactions. When Reading yieled to realizing, the market which had ben held pnly steady, gave way again sndenly md dropped to the lowest, the indutrials and Pacifcs leading. The closing was active and easy Many rumors circnated to account for the strength of Readng. It was said that stock re-adjusnent was at hand. Another report was4 4nat Pennsylvania was buying for controls The failure of confirmation of rumors cansd suspicion among professional trades that the powerful demonstration in tfa stock was designed for sentimental et feet on the general market to help SUI port prizes in accordance with the ef forts supposed to be making to that en' by great banking interests
 The urgent demand for money disap pointed expectations aroused by the url expected increase shown in banking re serves by the bank statment on Saturda and the large gain by the banks indicate by today's return of sub-treaSury opeI ations, resulting from the payment o Saturday for the redemption of a bloc of s2,500000 of government bonds. Todd over half million dollars additional wa pdlu Oul lOT TeueIIlplNon Ol BON6TnIleI bonds. Later in the day it was explaine that payments were being made for tf . .$75,o00000 of Northern Pacific convertib | bonds, the proceeds of which are to ' used for the retirement of Norther Pacific preferred stock It was said thi one check of $34, 900. 900 had passed c account Of the subscriptions. It has bee claimed hitherto that this operatio would be accomplished by transfer . .1r... 4r money market. The furry in money eau ed some fresh uneasiness as to possib delay in the period of relaxation afte January l. The reduction in the Calum, and Hecta dividend, and the closing dow Of the Anaconda mine depressed Anna gamated copper sharply. Sugar was UT der renewed pressure and showed tf lack of recent demand from a short i1 terest. The assembling of the conferenc of North Western Governors to concej measures of opposition to the Norther Securities Company made the Pacific weak. Union Pacific seemed to be affecte also by some disappointment over tf meagreness of details in the annual reno, regarding the methods of financing tt Northern Pacific settlement Proceedine began in Ohio under the antitrust la resulted in sharp declines in Ohio SO coal roadstocks.N The controversy betwee Germany and Venezuela had some effe, on foreign markets but seemed to be ii nored here.
 The bond market was moderately a, tive and irregular. Total sales par val, $2,32O000. The United States 5s como and the refunding 2s registered decline A and 2s coupon declined A, the 2s coupo and the old As B percent on the last cal
 New York Stock Marlrss
 VII