The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-12-21
Jlocks, Bonds and Money

Closing
Fri. Thurs.
Call money, New York $500. SO 5zz 8
Bar silver, New York ......-. 55A oa.s
NEW YORK, Dec 2f-The stock mar
ket showed its immense relief today from
the disturbing effect of the recent eccen-
tricity of Anlalgamated Copper. Insrs5
were some further contordonS In that
stock for short time after the opening,
but it settled down into a condition Of
quiet which has not been seen for many
weeks. Between Sc and 81 1t seemed TO
have arrived at condition oil stable
equilibrium. opening at 6fM was ait
parently due to a drive from the bears
who sought an opportunity to cover their
short contracts. The high level Of the
stock for the day was at Is and the net
gain was a point. The statement PUBLISH
ed by the directors last, night was aeeeIss-
ed as a proclamation of a struggle Tor
business with the independent companies
and such cut in the price of the product
as would be necessary. 1t would, however,
definitely foreshadow that previous aeVei-
oplnents had been perverted and exas-
gerated by all sorts of rumofS ana ma
nipulation.
With authorized official information as
a basis Of operations, the Stead1ness ans
quiet tone of the stock offered re-
markable contrast. The solution of part
of the mystery which has hung over TINS
stock let loose the force OF demand
which has lain dormant in the market
for several days past. The buying was
apparently based on the general ne eoas &c
which is prevailing in all branches OF
trade,
The special strength of the coalers.
which led the advance was due to the
seasonable weather for the trade and TO
reports of a possible coming advance III
the price of anthracite. The formau N
Of the arbitration committee by the Ma
tional Civic Federation was factor IN
the strength of this group as the presi-
dent of the miners organization has q
prominent place on the commttse anu
the fear of an outbreak OF LABOR trol-,
bles among the miners during the COM
ing year has been a persistent lnflue zee
in discouraging speculation in the stocks.
The advances ran from about point up
to 21a in Delaware & Hudson and 8 IN
Hooking Valley.
The strength of the Pacifics and trans
continentals was apparently based on me
favorable showing which it is expected
the Union Pacific annual report VIII
make. Reports of adjustment Or efforts
making towards that end of rate dis
turbances in the West helped the rail-
road list generally. The bull campaign
in the local traction stocks was renewed
under the leadership of Manhattan. The
sharp gains in number OF INDUSTRIES
We're based on individual conditions. Lac
express stocks were conspicuous as
group. Westinghouse Electric rose buoy
antiy liz and at reaction closed with q
net gain of 9. Sugar was heavy on +ae
signs of the renewal of the rate war IN
that trade.
The rate for call loans stiffened late in
the day to per cent but had very little
effect on the stock markets.
Tomorrow's bank statement. it is mop
ed, will reveal a large loan contraction,
although the rise in call money TO-DAY
fails to corroborate this expectation. The
fact that tomorrow's steamers are the
last on which gold shipments could reach
foreign exchanges in time for the settle.
re felt
further drain on that score. The pay
ment today of the dividend on United
States Steel common, amounting to over
IS. 900 ,0CO is expected to fayorably aftect
the money markets.
Bonds were moderately active and r
regular Total sales, par vafue, $50 6to.
The United States IS registered and the
old and new IS advanced Is and the IS
coupon declined Il per cent on the last
call.