The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-12-14
STOCKS AND BONDS.

New York, Dec. 13.-Stocks scored quite
notable recovery in today's market. The
market was very irregular during the
early portion of the day and distinctly
weak in spots. This was due to the resi-
due of uneasiness coming over from yes
terday's events and the fear that money
stringency would develop during the day
incident to the carrying over of loans I'M
til Monday. Borrowers on call paid as
high as Sha per cent early in the day but
they had no difficulty in obtaining accom-
modations at the prevailing rates There
was no further calling of loans by the
banks or forcing of liquidation in conse-
quence, as was the case yesterday. The
call loan rate yielded as the larger de-
mands were satisfied and fell below six
per cent at the close. Perceiving the
course things were taking, the bears be-
gan to buy to cover their short contracts,
which had been considerably extended in
yesterdays decline. There was some buy
ing also by inside interests in the various
stocks, especially during the morning, for
the purpose of support. Under these in
fiuenceS prices began to recover and
touched the high level of the day during
the afternoon. This level was not fully
maintained, but the closing was steady
and dull and only fraction below the
top level. Yesterdays anxiety over the
rumors circulated of the embarrassment
of large international mercantile house
was relieved by assurances that the trcu-
BILE was tided over. This was factor in
the recovery except for the rubber goods
stocks and United States Rubber which
lost from to points. The preliminary
figures of the weeks movements of cash
promised a loss of upward of Sc 900. 900
for the banks but the easier tons of the
money market helped to more hopeful
sentiment over the futures. The weeks
liquidation both in the stock, grain and
cotton market, may have effected some
reduction of the loan account of the
banks. The weeks movement of cash
shows no gain Of any significance fro ~
the interior on the express movement
while the transfers through the Sub
Treasury have amounted to $3.50. COO.
Additional supplies Of money next week
as indicated and relief from the liqUida-
tion are clearly the only factors in sight
to warrant the easier tone of the money
market. In the late strength of the mar
ket gains of 1 to roints were estab-
lished among the local fractions, trunk
lines, coalers, both hard and soft, South
westerns and number OF specialtseS.
General Electric rose points Amalga-
mated Copper fiuctuated fcverishly on the
announcement of the open cut in the
price Of raw copper. The stock rase &c
6SA at one time and was neal that point
several times. The low price was GfA
and it closed only Il higher at a net de-
cline of ia
Bonds were irregular and only mod
erately active. Total sales (par valued
So, 1886, 900.
U. S. bonds were all unchanged on the
last call.
Total sales for the day were $4,000
shares, including Atcnison 25,700; Atchi-
son preferred 9,400; Chicago and Great
western $500; Erie 1850; l.. and N. T.
100; Manhattan 24,500; Metropolitan =
100; Missouri Pacific 1860; New York
Central $4,000; N. end W. 1000: 0. and
w. $500; Pennsylvania 23,So0; Reading
29, 700; Reading second preferred 1890;
ST. Paul $4,000; Southern Pacific 22,eOo;
Southern Railway $500; Union Pacific e1,-
900; Wabash $500; Wabash preferred H.
200; Copper 9S 1000; 3. r. T. $500; Sugar
$500; u. S. Steel 32,70o; U. S. Steel pre-
ferred 10 600