The Montgomery advertiser., 1901-12-12
WALL STREET REVIEW USUAL YEAR-END ACTIVITY OF
 MONEY MARKETS. New York Affected More Than Foreign Cities Because It Has Been Called on to Relieve
 the Stringency.

NEW YORK, Dec. 1.-The usual year-end activity of the money markets of the world was the feature in today's stock market, to the exclusion of almost every other consider aton. The darkening prospect of the money in other markets and this was partly due to the fact that New York called upon for were made of gold for shipments to Berlin of $500, GOO announced and much mored. the reported shipper declining to con firm the report, and over Sloo 900 in French coin to Paris. Deposits at the sub-treasury were made for transfer to Chicago of S65o, 900 'pietion of nearly S2. .ooo, 900 in cash was off- set by a payment from the sub-treasury of Sl .54s. l4l in in redemption of United States a late furry in the call money market again, when belated borrowers sought to cover their The sub-treasury had already taken from the market over S4.ooo. 900 before the days the interior. The hope that the higher money rates here would attract prompt remittanccs from the interior is not sufficient to ported transfers to the" interior. It was re- ported today that Chicago banks had loaned some money on call on the Stock Exchange,
 but this operation, presumably involves the drawing upon New York correspondent, anl is therefore unsetting influence in the io- cal money market The of the loan account of New York banks is beyond revi- sion in advance of the weekly bank statement. but last week. unexpected increase in loans keeps sentiment uneasy as various syndicate operations remain to be provided for. Belief in the purchase of the Pocahontas Coal Com pany by Norfolk and Western continues prev alent in Wall Street, in spite of lack of off, dcial confirmation. which would involve large loan operations. The sharp decline in Norfolk and western was connected with this belief. What loan operations may be inyilved in pro- viding for the payment of the S9,ooo. 900 standard oil dividend next Monday is not known, but the fact Is patent that the credits available in the New York money market are undergoing cOnstrtction, and fiurries in the money market of frequent recurrence are looked for until the end of the year There " " n hA fnrai clapa market today in response to the stiffening of money rates, and the outgo of gold is sup posed to be in the nature of an outright bull lion purchase designed to strengthen German bank reserves for their annual showing, rather than to yield profit a regular exchange transaction. There appearance of nursing the market on the part of the insid- CTS here and there, to suffer as little damage as possible from the inevitable liuui- dation. The comparative firmness and resili- aid in this purpose. The dealings in that stock again overshadowed the whole market, the price rising to 72% and falling again to 69h closing with net gain of B. There midday rally when the redemption of a large block of Government bonds was announced level, Lackawanna rising Az and Delaware and Hudson, New York Central and Sugar about a point. Prices generally fell back to the lowest in the late selling movement and closed not much better. The trans-continen- tals and the local traction stocks were the principal sufferers Baltimore and Ohio and Norfolk and Western also fell 2k and Colo rado Fuel 5ls Brooklyn Union Gas and General Electric 4.
 Bonds were active and irregular. Total sales,
 new +ss and 5s advanced $ per cent. on the last call.