The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-12-14
MARKET IRREGULAR EARLY.
BEARS BOUGHT TO COVER,
There Was Some Buying Also by Inside
Interests in the Various Stocks
for Support.

New York December 13.-Stocks scored
quite a notable recovery in today's mar
kot The market was very irregular dur
ing the early portion OF the day and dis
tinrtly weak IN spots This was due TO the
residue of uncaslncSs coming over from
yesterdays events and the fear that money
stItugency would develop during me any
Incident to the carrying over OF loans unul
Monday borrowers ON call paid rs high
as Sl3 per cent early IN the day, but they
had no difficulty In obtaining accommodh-
lions at the prevailing rates There were
va further calling Of loans 10y the banks or
forcing OF liquidation In consequence as
was the case yesterday. The call loan rate
Welded rs the larger demands were satls-
nod and fell below per cent at the close.
Percciving the course things We're taking.
the bears began 10 buy 10 cover their short
conttHcts which had been considerably TX
tended in Yesterdays decline. There was
some buying also by inside interests IN the
various stocks. especially during the morn
ing, for the purpose OF support. Onuer
these Influences prices began To recover
aud touched the high level OF the day dur
Ing the afternoon This level was not fully
maintained, hut the closing was steady and
dun and only fraction below the top
leFet Yesterdays anxiety over the rumols
circulated OF the embarrassment of n large
International mercantile house was relieved
be assurances that the trouble was tided
oyer. This was factor in the recovery,
eNcept for the rubber goods stocks and
United States rubber, which lost from 10
4 points.
The preliminary figures OF the weeks
movements of cash promised a loss Of up
ward Of 100000 for the banks. hut the
easier tone Of the money market helped to
a more hopeful sentiment over the future.
The weeks liquidation. both the $40 X,
grain and cotton market NAV have ef
fected some reduction of the loan account
Of the banks The payment NJ the Jan
nary / government interest is 20 begin on
Monday and the Standard oil dividend,
amounting Ia $S,00S1lOO. Is also payable on
that date. on Friday $4,000 rs 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 trans
fers through the snhtreasury have amount
ed to $2.750000. Additional supplies Of
money next week. as Indicated and rellet
from the Liquidation are clearly the only
OF the money market, Foreign exchange
steaded today with the relaxation Of the
pressure for money, while money rates n
vAnced IN London. Paris and Berlin, the
sterling rate at Paris also falling l centlme.
These developments doubtless mean that
any lowering OF the money rate here would
be followed by further exports OF gold In
the fate strength OF the market gains OF l
10 2 points were established among the
local fractions, trunk lines, cOalers, both
hard and soft. Southwesterns and a num-
Der Of specialties.
Copper huctuated feyershly
on the announcement OF the open cut in
the price Of raw copper. The stock rose
10 6s1S ar one time 6nd was near that point
several times The low price was 66I4 and
II closed only q higher at a net decline
OF 1M
Bonds were Irregular snd only moderately
active Total sales, par value, Sen3S .ooo
Tinted states bonds were all UNCHANGED on
the last call
I-ondor Financial Gable.