The times. [volume] (Richmond, Va.) 1890-1903, 1901-01-01
n
9Th
not MAJ AIMED.
Pfoes Showed / tendency TO faIl OFT
Toward the Close.
BOND MARKET WAS lRREG uLAR.
uu, tho Closing Day Of tho Year ana
Century Was signaiizcd by tho
Highest Prtccs in Some
Stocks.
RoND MARKEI. WAS IRREGULAR.
fp- Associated Press.o

KEW YORK Dec. .sl--ine sS w ,n,vin.
mn The stock Exchange VIII .. III as
-. If t1,e market well mainIailteas,
T. T., s,.tae,,. from the volume OF the ua -.
i.,,x5ness and from survey OF ny - an.
.,s,n nres for the day. In u nuiiluo. rl,I,c
snny.fant stocks these are impress! :, MAIN
full strength of the r1arheL Mas spnwed a
sainei 10 the close, and prices SLY saster
s,endency to slip back during dhe ..ain.
no II Of the day. In spite Oh Inc so.,.,,h
tnrr force of the extraordinary sli s,.e IT
IN p few stocks, but the closing ,,a,er-
& l,e -resr and of the century was. nj. NJ.
,he,ess sirnaiized by the highest P l1.. =
for the year or for all past time ~ tioe .
few stocks. .b.se was
The most conspicuous OF .nes 81, M ',1,.
Pennsylvania, which opened wiz. "a i,,,X,;ns.
yard rush under congestion OF pus IN 3
orders. which called for no less 1iiala AZ "a
ma s,,a res to be Immediately purchassu :. a. !.
tho onening. This carried the price up ;a ~
l49I5. The price got back 10 ~ s;d ~
nnf1it again after tho opening, nui ulu e. g.
hold. and closed nearly a point lo"eI I3o,s %.
Paul crept up perilousiy near u. ~ wi,
sy.yania's level. selling at one 1lme IN IN,
81 below the great trunk line stoch. ,.e..,.
absorption of Northern Pacinc was :,. w ~ I
heavy. the price rising at the opehiis - y
ever Saturday under a competing rusii
of orders TO buy at the market
Later in the day there was ~ 49,
dcscence OF strength in the ERE sso ne
under the influence OF me s ~ hond
issue for financing she purchasing OIL .as
Pennsylvania Coal Company. 30, me .,i =,
preferred was rushed up TO o.hS. "tic,,
was 81 over Saturday the prices o. 49,; a.
three of the stocks 1nentloneo "eAe ' s7
above all previous records.
The same was true of other stOchS III
the railroad list, but the general move
mcnt otherwise was to large e3ieit ~
group. This specialized strength also
served as u sustaining force for "a Se:s
l,1rge amount of profit-taklng, 81 mas
constantly been the case rccentiyi
After the manner IN Whlcn Loiuoil
weakness was ignored on Saturd# The
nnnrehensions of trouble there ap-day
were not looked to for much effect here:
But the unexpectedly fayorable, as1ct 10, ol
affairs there did serve as lump o5L1 t
market and London buying mere as a
- factor of strength. although ther was
s,1fficient selling for that account irother
stocks to leave the buying on .blance
only smal}e
The strength of the sterling exaange
81, the face of London buying me- was
very significant. Commercial bills Lex
change against both cotton and grn are
reported rather scarce. and it is P'oable
there is some demand for exchNe. or
remittance of annual oblisat1onssa iii
don. But the special demand forserling
is probably 70 be explained by the ndlnS
of New York money in London Inc
cxisencies of the London marketid the
abundance of funds In New 1ork,S spite
of all the extraordinary demand sslnt TO
such a process being In progress The
year closed with a 9 per cent. 81 rate
only rnomentarily maintained. tan off
afterwards to per cent. and low This
w.s partly due TO the fact the many
loans last Friday were 1nadea carr
over until Wednesday.
There was some din,inution ins1 buy
sing of bonds and prices decltnea some
portions of the list while advasng at
others. Total sales, par value. 10000
The notable relapse In the price Gov
ernneIlt bonds is significant salinderl
that the price premium commaed by
the process of Tefunding into thew 8
Is no longer payable by the Coy ment,i
United States old As declined 224's ~,
3 s. coupon 11s. do. registered 11ass::s and
new As u per cent. on the last CO
The total sales Of stocks toI We're
,:339 600 shares.