The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-12-13
The New York Stock Market

New York, December 1.-THE usual
year-end activity of the money markets.
of the world vas the feature in today 8
stock market. to the exclusion of almost
every other consideration. The darken-
ing %prospec of the money outlook was
more p%erceptible 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 markets.
Engagements were made OF gold Tor
shipments to Berlin of $500, 900 announc-
ed and as much more rumored, the re-
ported shipper declining to confirm the
report, and of over 500. 900 in French
coin to Paris. Deposits at the sub
treasury were made for transfer to
Chicago of $3.50, 900 and to New Orleans
of $50, 900. This depletion of nearly w.
O00. 900 in cash was Offset by a payment
from the sub-treasury of S1,549.131 In
redemption of United States bonds; but
this was not sufficient to prevent a late
furry in the call money market again,
when belated borrowers sought to cover
their needs. which ran the rate up to IL
per cent. The sub-treasury had already
taken from the market over s.. 000, 900
before today's operations, including de-
posits for transfer to the interior.
The hope that the higher money rates
here would attract prompt remittances
from the interior is not sufficient to
overcome anxiety. in face of these Off
cially reported transfers to the interior.
1t was reported hat Chicago banks a
loaned some money on call on the STOCK
exchange, but this operation presuma-
bly, involves the drawing upon a New
York correspondent, and is therefore,
an unsettling influence in the local
money market. The course Of thel loan
account of New York banks is beyond
provision in advance Of the weekly bank
statement, but last weeks unexpected
increase in loans keeps sentiment I'M
asy, as various syndicate operations re-
main to be provided for.
Belief in the purchase of the Pocahon-
tas Coal Company by Norfolk and
Western continues prevalent in Wall
street, in spite of lack of official confir-
nation, which would involve large loan
operations. The sharp decline in Nor
folk and Western was connected with
this belief.
What loan operations may be involved
in providing for the payment of the S.
600. 900 Standard Oil dividend on next
Monday is not known, but the fact is
patent that the credits available in the
New York money market are undergo
ing construction, and flurries in the
money market of frequent recurrence
are looked for until the end of the year.
There was some appearance OF nursing
the market on the part of insiders here
anu In6T0, SO DIS u suffer DIS lltIle QdIl-
age as possible from the inevitable Ii
quidation.
The comparative firmness n resili-
ency of Amalgamated Copper was an
effective aid in this purpose. The deal
ings in that stock again overshadowed
the whole market. the price rising to
TN and falling again to 69h, closing
with a net gain Of IS. There was a mid
day rally when the redemption of a
large block Of government bonds was
announced which carried nan stocks
above yesterdays level, Lackawanna
rising AZ and Delaware and Hudson,
New York Central and Sugar about a
point.
Prices generally fell back to the low
est in the late selling movement and
closed not much better.
Bonds were active and irregular. To-
tai sales. par value. were $40, 900.
United States old and new As and the
Us advanced Is per GER on the last call.
Total sales of stocks today were $50, 200
shares,