The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1901-12-31
EASTERN MARKETS.
Ne1U York Stock Market.

NEW YORK, Dec 3o.-To-day's market was
largely a matter of money supplies The
symptoms were indubitable that these were
scarce, the call loan rate running up at one
time 70 Il per cent. The general rate for re-
newals was 10 per cent There yvere n NM,
Der of other depressing factors which reir
forced this motive for selling stocks and the
consequence was general declining tendency
Oh prices during the morning. Later in the
Jay the money rate became easier under Of
LeIlHss py bankers, among whom J. Pierponr
ent demand developed for Reading which
caused an advance Of 1 points in that stool,
at new nigh record price al each Ston of r.
advance. The dimensions of the trading IN
me STOCK were such as to show that only the
dividual blocks taken ran All The ,ya1i fra ~
1000 to 10000 shares The general marker
steadied under the influence IF tbie -a[--e
ment, but was singularly unresponsiva e,-a,, =,
the stocks most nearly allied in interest win
Readlng, with the exception of New Jersey
trading When Reading yielded to realizing The
general market, which had been held orIS,
STEADY, gave way again suddenly and dropped
10 the lowest, the industrials and Pactnc,;
leading The closing was active and easy
the strength of Reading. 1t was said that a
stock readiustment was at hand. Another
report was that pennsylvania was buvinp fo,,
control. The failure of confirmation of these
rumors caused a suspicion among profession. /
uaoers that the powerful demonstration in the
stock was designed for sentimental effect on
the general market to help support prices in
elSSOtudA4Ce WIN the effort supposed to be
ing to that end by great banking interests
The urgent demand for money disappointed ev
pectations aroused by the unexpected increa Sc
shown in banking reserves by the bank state
ment on Saturday and the large gain by the
banks indicated by to-day's return of the sui
treasury S operations, resulting from the pay
ment on Saturday for the REDEMPTION of a
block of 81, SOC, 900 of Government bonds To-
day over half million dollars additional was
paid out for redemption of Government bonds.
Later in the day it was explained that pay
ments were being made for the $4,000 O0O
Of Northern Pacific convertible bonds the
proceeds Of which are to be used for the re-
trement Of Northern Pacific preferred stock
1t was said that one check of S34, 0O0. 900 had
passed account of the subscriptions If
has been claimed hitherto that this opera ion
would be accomplished by transfer of banking
credits and without affecting the money mar
ket. The furry in money caused some fresh
uneasiness as to possible delay in the period
I in the Calumet and HeCla dividend and the
closing down of the Anaconda mine denresse ed
Amalgamated Copper sharply. Sugar was nm
der renewed pressure and showed the lack Of
recent demand from a short interest The
! assembling Of the conference of Northwestern
Governors to consider measures OF onnositio,,
to the Northern Securities COMPANY made Tho
Pacifics weak Union Pacific seemed to he af
! meagerness of details in the annual renor+ ra
gardng the methods of financiering the North
/ ern Pacific settlement. Proceedings begl1n II,
Ohio under the antitrust law resulted in sha m
versy between Germany and VenezueIa bs1
some effect in foreign markets, but seemed 10
be ignored here.
Tho .-ond market moderately active and
irregular Total sales, 50, 800, 600 The United
States hves coupon and the refunding twos
registered declined 4 and the twos coupon
the three coupon and the old tours X per cent
on the last call.