The times. [volume] (Richmond, Va.) 1890-1903, 1901-12-06
UPWARD MOVE
WAS CHECKED
Realizing Stopped Prices IN Their
Rise.
EARLY GAINS WIPED OUT.
Market Started OF Brisk!y. ru. st.eaath
Sxs Taken Advantage of TO Real
lie. zad Close Was TT
Lower Level.

fB- Associated pres..)

NEW YORK. Dec. e.-The Upward
movement In stocks, which gained some
force yesterday afternoon, came TO an
end this morning IN face or the resi'z':is
by the speculative pools who have h"i
tur~d the advance in the recently PROM
nAat stocks. The perception O. t'e'e
realizing checked the following ahoHa
The professional traders and led to seac-
,icnary tendency. The fscteT. at "orh
10 the money market, leading 70 INC uc-
plstion OF the cash reserves OF me oahhs'
begot q spirit of caution IN 'he , uliias
o. liz bil.lles Tor speculative purposes;
Y'he rnarke, started OF briskiy and
strongly with yesterdays ltaocisA'I
;uily rna!ntalnc-i 10 ali appearance. pot
xu.ta,ninp inftucnca ST tllt.Se Was taken
advantage OF to realize. Before the DAY
closed the early gains were wiped out eH-
ccpt IN few instances, aho me stetA
level OF prices at the close Will be seen
40 be lower than last night. I no selling
jot stocks grew notably :css as the DC
Ciinc in prices PROCEEDED, and The market
sank into extreme oill7ess AT The 10"
level
The loss thu. far this week to the sub
Treasury OF S5.s79,Obu serves rs a warn
ing noIe TO the cptimi.t on the money
outlook. The disbursements on Govern
tment account have been very light dur
ing the week, and the offerings OF Gov
crnment bonds for redemption have re-
ceded TO nominal figures. Notwithstanding
ihc withdrawal Of bonos on deposit 10
allowed for the month and presumably
Nth the purpose of Offering them for IL
GGnW ion. Assertions ,4iat receipts OF
s9 he neroT On the oi shp
snents. are not entirely reassuring in view
OF the fact that deposits at the sub
Treasury 70, enster to the interior al
ready exceeo million dollars fer
the week, to- transfers to New Or
leans on that account reaching $3.50. 600
10 4oc discount to-day. On the interna-
xio1ai exchange side Acre was an easier
:one In the sterling market to-day. but
Continental exchange hardened. Money
was Ii active demand In London TO pay
she instalment due on the British loan
she price OF geld advanced, and a Stift
OF the year and into January. The pri-
Iate discount rate rose in Paris to-day.
sno the sterling rate there .receoed
,o oTth n.x Fcssih!ty Of further gold cx
twed. Between now and December Goth
.ae local money market has to mako pro
ttee! disbursement on common stock.
hich calls for upward OF s5.Ooo,0o0.
here Is no Indication of money scarcity
n to-oays loan rate.
a renewed decline in Amalgamated
topper against some early frmness. in
7ite Of the recovery OF the raw copper
market in London. was an unsettling in
i.uence in the stock market. The market
closed dull and generally heavy.
Railroad bonds were steady for time
! ut came dull in sympathy with stock
otal sales, par value, s.. 42ncnl United
ttates- bonds wero all unchanged on the
last call.
The total sales Of stocks to. day were
C51.l0o shares
MONEY AND ENCHANGE-N on
call firm at 4Ed5 ncr cent: last loan. ;
Ter cent: prime 1nerchn tile paper 4EdS
Ier cent Sterling exchange easier with
;'.sTlaH4. sTns for demand and at S4.s4EM
SIX for sixty days: posted rates 81 S.
no S4Ssh: commercial bills. 81 s3sI a
$50. Bar silver. Szh.: Mexican collars.
ia. Government bonds steady: State
bon6s, inactive: railroad bonds, dull
STOCK QUOTATIONS,
Trrri,hta ~ M-..r.. SCOTT 4 srrING!rLLur
NNmheis EeN Nnr err rnlsn '