The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-12-14
STOCKS AND BONDS.

New York. Dec 1S.-Stocks scored quite
a notable recovery IN t06ays market.
The market was very irregular during
the early portion OF the day and dis
tiuctly weak IN spots This was due 10
the residue of an easineSs coming over
from yesterdays events and the fear
that money striageHcy would develop
during the day incident to the carrying
over Of loans until Monday. Borrowers
on call paid as high as 81 per cent early
in the day but they had no difficulty ii
obtaining accommodations at the prevail
ing rates. There was no further calling
Of loans By the banks or forcing OF liqui-
dalton in consequence as was the case
yesterday The call loan rate yielded as
the larger demands were satisfied and
fell below per cent at the close Per
ceiving the course things were taking, the
bears began TO buy 10 cover their short
contracts, which had been considerably
extended in yesterdays decline. There
was some buying also by inside interests
in the various stocks, and especially dur
ing the morning for the purpose Of sup
port. Under these influences prices be-
gan 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
a fraction below the top level. Iester-
days anxiety over the rumOrs circu-
lated Of the embarrassment Of large
international mercantile house was re-
lieved by assurances that the trouble was
tided over This was a factor in the
recovery except for the rubber goods
stocks and United States Rubber. which
lost from one 10 four points The pre-
liminary figures Of the weeks movements
Of cash promised a loss upward OF $500,
GO for the banks. but the easier tone OF
the money market helped to more hope
full sentiment over the future. The week 5
Liquidation both in the stock. grain and
cotton market, may have effected some
reduction of the loan account of the
banks. The payment of the January 1
government interest is TO begin on Mon
day. and the Standard Oil dividend.
amounting to 5000. go, IS also payable on
that date. On Friday S5,o0o,o00 is payable
on account Of the dividend on United
states Steel common stock.
The weeks movement OF cash shows no
gain OF any significance from the interior
on the xpress movement while the trans
fers through the sub-treasury have
amounted TO 50. 750.e 90. Additional sun
plies are clearly the only factors in sight
TO warrant the easier tone Of the money
market. Foreign exchange steacled TO-
day with the relaxation for the pressure
for money, while money rates advanced
in London. Paris and Berlin, the sterling
rate at Paris also falling one cenume.
These developments doubtless mean that
any lowering of the money rate here
would be followed by further exports Of
gold IN the late strength Of the mar
ket gains of 10 points were establish
ed among the local fractions trunk lines,
coaIers both hard and soft, southwesterns
and a number OF specialties. General
Electric rose I points. Amalgamated Cop
per fuctuated feverishiy on the an
nouncement Of the open cut IN the price
Of raw copper. The stock rose to 68ls at
one time and was near that point several
times. The low prics was 65i4, and it
closed only 7. higher. at a net decline
Of IS
Bonds were irregular and only noder-
ately active. Total sales, par value,
s. SIS. COO United States bonds were all
unchanged on the last call.