The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-12-07
STOCKS AND BONDS.

New York Dec. e.-Fears OF money
stringency gained the upper hand in the
stock market today and precipitated ac-
tive selling throughout the list The
bears were active and energetic in taking
the market away at each recurrence of
signs Of selling, and their buying 20 cover
at frequent intervals caused many irTeg-
uiar rallies and checks 10 the decline
The demand quickly fell away on these
rallies and the activity in the market was
only renewed when prices began 20 give
away again. The apparent running ont
of the recent speculative movement in
Manhattan and the consequent realizing
by the longs was a feature of the mar
ket The stock made an effective rally
ing point for the bears in their aggressive
onslaught on the market. In the late
dealings the stock fell 10 1854, repre-
senting an extreme decline of "a. At
the same tine Amalgamated Copper.
which had fuctuated rather sluggishly,
but heavily all day. took q new down
ward plunge 10 697s, compared with its
previous low record OF Tll2 This unsettled
the whole market and made the closing
active and easy but with the selling
pressure much less acute in the general
list than in the stocks named The
deposit at the sub-treasury for transfer
10 the interior of S1.090,O00 completed the
fright over the money prospect which
had been gathering force al day with
the contemplation of the preliminary hg-
ures OF the weeks currency movement.
1t appeared from these that the banks
had gained on the interior movement by
express more than Sl.50000c UP 10 Thurs
day night thus seeming TO OFFSET that
far the weeks loss 10 the sub-treasury
which footed up last night Slll5eoo. OF
today's deposits for transfer $3.50 eco was
Cor ChicaCo and $4,000 for New Orleans.
The renewed demand from Chicago Is
said 70 be based on the furious specula-
ton wbich has broken ouV in the grain
market. and the movement TO New Or
leans is doubtless connected with the ac-
tivity in the cotton market OF the
weeks loss to the sub-treasury nearly
S3ce1 e0e represents deposits OF legal ten
ders to retire circulation, and withdraw
government bonds. These bonds have
not been offered Tor redemption. ana
there is lacking this Offset 70 the decrease
in the circulation. The payment OK the
s2.0oo zoe sold exported is also included IN
the sub-trczsury operations. New York
exchange at Chicago. which fell 70 90
cents discount ar one time yesterday
stinened 10 80 cents discount today as
q rosulr OF the currency shipment These
unexnecteG new demands upon the local
money suuniv were reflected in calling
Of loans and marking up OF money rates
E-nkS marked up their cau -oah rates
over the counter 70 per cent. and eXer-
cIsed stricter Discrimination as to indus
trial collateral. The easier tone Of the
foreign ext hange market was lost sight
OF In this new development. although ID
promised RELIEF from The further exports
threatened next week \ rise In the New
York money rate viii help 80 prevent sold
exports. but uot 20 the relief cI specGla-
tive borrowers on oaIl- The few stocks
which made a snow Of strength during
the morning succumoe5 90 tbs weakness
I.osses OF I 70 points we're made BY the
naa5ority If the prominent active stocks.
General Electric. after rising 70 @e4s.
broke TO 2st, or the declaration Of the
regular quarterly dividend. and then
ri,sctnatcd wildly above thu lowest
Bonds were active ia sympathy with
stocks Total safes par value s esa or.
tinted states boEds were al unchanged
on the last cali