The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-12-10
STOCKS AND BONDS.

New York, Dec. 9.-There was a lively
shaking out of speculative long accounts
IN stocks today, accompanied by a
threatening break in prices which caused
some alarm during the early hours of
the day. In the afternoon there was Il
sudden abOut-face IN speculative senti-
ment and a diSOrderly scramble ensued
among the bears TO cover their short con-
tracts. Amdlgamated Copper continued
To maintain its conspicuous position. even
with the increase in animation in the
market today. The opening sales carried
the STOCK BACK IL to %, and this proved
the low level Of the day. but the demand
dropped of as often IS the stock ap-
preached Saturdays level. although de-
termined support was always offered. and
in the last hour rushed the price up to
Il in their frantic bidding against each
other The final price was bot a shade
lower. The support offered to Copper
at the opening break prompted support
ing orders elsewhere. and the market
Steadied momentarily, quite q list of
important stocks rising q fraction over
Saturday. With rise in the call loan
took fright and unlOaded stocks. Prices
generally touched the low point OF the
day on this slump. although individual
stocks were forced down under subse-
Quent attack. carrying the whole market
with them back 20 about the low level
several times. st. Paul was notably
weak and feli rs under Saturdays prices.
Manhattan also was vigorously attacked
and driven 2it under Saturday. There
was a good deal OF calling of loans but
in seeking new accommodations borrow
ers bid the rate up upon themselves to
q higher rate than was necessary. judg-
ing from subsequent developments. The
ruling rates We're 9 per cent, or even 5lz
per cent, and there seemed ample supply
at that figure. The perception of this
fact emerged about the same time that
AmalSamated Copper began its rally
rom a general level of a point or more
below Saturdays prices, the market be-
nentum- There was q slight reaction
before the close but the advance was
renewed, making the closing active and
rtrong az about the best. The Could
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. TIE active call loan mar
ket was reflected iu the sharp drop in
foreign exchange. both sterling and con-
tinCnraf. which precludcd all idea Of gold
exports for the present. There was some
apprehension Of pressure for gold st
ported easy there today. ana sterling ex-
change hardened ia that market. Money
was also easier in London. and further
demand from a'aris is not feared AZ pres
ent as Paris bankers are again buying
discounts in London.
There We're no deposits Of currency at
the Suh-treastry Tor transfer TO the in
terrier today. but the speculative activity
ketS- The suo-tre Sury is also taking 10
large sums on the government surplus.
which is running l2rSe. III Was very OBJ
vi0us. how tht-r anxiety over money
on the part II spectators was much re-
Railroad bonds weakened IN sympathy
wiki stocks. bat became SIRE guar later.
Wabash Leb1urures Eoined nearly . per
United States bonds were al unchanged
on the last calt-