The daily morning journal and courier., 1901-12-14
Etma,rctal
THE STOCK M-AKk EI.
Amalgamnter Copper Closes Lowe


 New York, Dec. 13.-Stocks scored
 quite notable recovery in to-day s
 market. The market was very irregu-
 lar during the early portion of the day
 and distinctly weak in spots. This was due to the residue of uneasiness coming over from yesterdays events and the
 fear that money stringency would de-
 velop during the day incident to the | carrying over of loans until Monday. Borrowers on call paid as high as Sh
 per cent. early in the day, but they had
 no difficulty in obtaining accommoda
 tions at the prevailing rates. There
 was no further calling of loans by the
 banks or forcing of liquidation in con-
 sequence as was the case yesterday.
 The call loan rate yielded as the larger
 demands were satisfied and fell below
 6 per cent. at the close.
 l Perceiving the course things were talk
 ing, the bears In the market began to
 buy to cover their short contracts, 1 which had been considerably extended | In yesterdays decline. There was also some buying by inside interests in the various stocks, especially during the morning, for the purpose of support. Under these influences 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 a fraction below the top.
 Yesterdays anxiety over the rumors circulated of the embarrassment of q large international mercantile house was relieved by assurances that the trouble was tided over. This was fac- tor in the recovery, except for the rub Der goods stocks and United States Rubber, which lost from 1 to points. The preliminary figures of the weeks movement of cash promised a loss of upwards of $6,000,0 900 for the banks, but the easier tone of the money market helped to more hopeful sentiment over the future of that market. The weeks liquidation both in the stock, grain and cotton markets 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 $S,O00,00O, is also payable on that date. Later in the week. on Friday, s5,O0O,0O0 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 express movement, while the transfers through the sub treasury have amounted to $2,750,O O00 Addition al supplies of money next week as in- | dicated and relief from the liquidation | are clearly the only factors in sight to | warrant the easier tone of the money l market. Foreign exchange steadied to- day with the relaxation for the pres | sure for money, while money rates ad- vanced in London, Paris and Berlin, the sterling rate at Paris also falling one centime. These developments the money rate here would be followed . by further exports of gold.
 In the late strength of the market gains of 1 to 3 points were established | the local fractions trunk lines coalers, both hard and soft; southwest erns and a number of specialties. Gen. eral Electric rose points; Amalgamat- ed Copper fluctuated feverishly on the of the open cut in the price of raw copper, The stock rose to 6S1a at one time and was near that point several times The low price was 66A and it closed 4 higher at a net de- cline of IFS.
 Bonds were irregular and only moder- ately active. Total sales, par value, $2,- )35 GOO.
 United States bonds were unchanged ln the last call.