Evening star., 1901-12-11
Stocks We're Fieely Sold Throughout
the List Today.
BAD BANK, MArEMEHT EXPECTED
Activity in Union Pacif'c-Higher
Rates for Money.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK. December u.-Today's
stock market reflected further shifting
OF loans as result of gold shipments and
an increased demand for call money. The
money rate reached per cent early in the
day and later advanced beyond that figure.
For considerable time during the morning
the only money offered came from private
banking houses the banks and trust COM
panies withholding offerings until the de-
mand and Its consequences could be better
gauged. eu
One brokerage'firm loaned 100000 at
61e per cent. and another had an equal
amount around the same figures. The en-
gagement of gold for shipment by tomor-
rows steamers..was mostly in small lots,
but aggregated. over 81, 600 600. One ship
ment, that of the City Bank. is covered by
gold already in the. valut Of that instttu-
tion. na
The banks have lost to the subtreasury
during the week about $4.O00,000, and there
Is little prospect for a satisfactory bank
statement except through the medium Of
liquidation. While surface indications en-
courage traders and margin operators to
sell stocks, prominent bankers continue to
assure clients. that nothing more serious
than money furry of brief duration Is
likely.
The continued expression Of confidence on
the part Of the leading banking interests
is one of the most encouraging features of
the situation. At the moment. however, the
market is In possession of professional
element who are chiefly concerned with the
present and not the future. Stocks are in
the main, strongly held and no ordinary
decline will disledge Them, but pending the
usual year-end settlements there will be
few new risks taken in the long account.
There was a moderately good demand for
Missouri Pacific during the day. but the
buying was of kind which indicated a
n a TO TO cto ov,1 r,,f
to force an advance in prices Immediately.
There were occasional periods of strength
In Copper, due to short covering, the stock
holding best when the general list was
heaviest. While the railroad list was un-
der pressure during the afternoon Copper
advanced over / per cent.
At the higher prices the room again sold
literally and professional sentiment is still
opposed to sustained rise in this proper
ty. -
The coal stocks sold down under continue
Gus offerings and little support was accord
ed them by the pools which have recently
aeea new most Sisb gSRsp1fq0us in holding them at
Trade conditions are said to be satisfac-
tory, but the time is not ripe for making
them promirfnt In the market. Union. Pa
cific and Southern Pacific were freely sold
but the resistance Of the former to pressure
was one of the most discussed features Of
the market hDuring a greater part of the
day Union Pacific was held in the neigh
borhood of % under extremely liberal Of
ferings. The selling was not DISCOURAGED
by this show OF strength, however, and was
continued throughout the day. >r
In the Industrial list the selling of the
Steel stocks twas q feature, and lower
prices ruled For A majority of. them The
Traction shares were heavy, but the de-
cline in them was without the slightest In
d1cation of atscare.' In fact, in all parts of
the list there was a most orderly retreat.
The announcement that the subtreasury
had paid over $1529D 40 in payment of the
purchase OF $106h0cO government bonds
the Treasury Department If the need arises.