The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-12-23
STOCK MARKET DISPLAYS
STRENGTH AND BREADTH.
GOOD VOLUME OF BUSINESS
IN WALL STREET.
Large Dealings in Leading Issues
Have a Sympathetic Effect
Throughout the List.

New York. Dec. 22.-There was a good
volume of business in stocks to-day and the
! market showed strength and breadth. The
large dealings and the notable strength In
: a few prominent securities had a notable
sympathetic effect on the whole market.
The trading showed diminished animation
as the day progressed, but the hlsh level OF
prices attained was pretty well held. al
though the closing was slightly irregular
by reason of Il feYeriSh movement in sugar.
| The stocks which led the market had lndi-
| Vidual grounds for strength. mostly IN the
shape Of rumorS of the probable increase
in dividends, or of other benefits. This was
the case in Missouri Pacific ana New York
Central. and. in the outside market. the ru-
NOR concerning Northern Securities was TO
: the effect that there Is to be some eNtraor-
binary distribution among Great Northern
stockholders, of which the Northern ScCuil-
rieG COMPANY i the principal one. No OIL
Cial sanction was given to any of these ru-
mors. nor was there any confirmation of the
continued reports that valuable rights are
TO be given TO st. Paul stockholders II
connection with the proposed new stock
issue.
SUGAR Is STRONG.
Sugars strength was attributed to 7 fur
thcr drive against the shorts in connection
with the prospects for the Cuban reciprocity
treaty. Canadian Pacific and its allied
stocks Were strong features without special
explanation. AmaigamateG Copper was
lelpel by reports that copper litigation in
Montana has been passed indefinitely by
common consent Of both coutendinE inter-
80 Ia tAA' iti-liTAiN. lit lS'AA r.' ga
the Stock Exchange We're somewhat skep-
teal Of the advance and contested il by
short sales. There was evidence OF activity
on the part OF the recently GujaScent pools
ana large professional operators were sup
posed to be at work to lift the level Of
prices.
United States Steel was prominent and
strong. although somewhat sluggish, as
usual. Satisfaction was pro:eSsed over the
status of the Venezuelan question ana con-
fiucnCc w@S felt IN the money situation.
Concessions in rates for time loans helped
this confidence materially. The & per caEt
rat" was shaded for any .0rEer time than
sixty CaN&. Tn continued downward course
OF sterling exchange gives rise to q guTpg-
sltGn OF some special development in that
field not yet disclosed. There are vague
Tl3nors of block of railroad bonds placed
abroad. although representative of large
railroad interests report that the American
market Still offers the best field for railroad
bonds.
CURRENCY MOVEMENT.
me suggestion comes from Berlin that
toltlS:l CatktrS co-operated with the New
DIRK bankers pool in guarartepiuc The S5O
V"N"o fund for the money market 10 the.ox-
tent OF at least agreeing TO refrain from
IlFtiaef contraction OF credit to New York.
me large movement of currency to New
~eans-SJ5c.H to-day-foilowiHg large
posed TO be for the purpose of holding cot
ION in ANTICIPATION of higher prices IN IAN
utfE. me movement SEEMS to Caise no
lniS%iVinE. although l. seems Likely to cut
mus AFFECT the foreign trade. a feature of
t!le DAY was trading in international
Mercantile Marine common stock in IN. ont
SIDE market at from u 10 q. This IS ine
frst recorded business III this country in rEe
new shipping cOmpany'S common Stool
The bond market was broad and strnng |
Total sales par value 5000 U0 I-nit.I Set.
"ohas were all unchanged on the last cali.