The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1902-12-05
g. ittattcia1.
YESTERDAYS STOCK MARK ET.

F"tile Attempt 60 E'ut Up prices-Ciose
Lower Than "Wednesday.
New York. Dec. 4.-There was an
other attempt to put up the prices of
stocks this morning, but the attempt
did not succeed and the market soon
| became weak. Final prices were con-
siderably lower than last night The
| principal part of the days business on
the stock exchange had been COM
| pleted by the end of the first hour, and
| there was no further activity until an
| active selling movement developed in
| the last hour and carried prices to the
! lowest of the day. In the interval
| there were occasional periods of abso-
lutte idleness on the floor of the ex-
change. Many of the most prominent
stocks were not quoted at all from hour
to hour. The aggregate transactions
! for the day dWindled still further from
yesterdays small total. The business
was almost entirely in the hands of
| professional room tradersand many of
the more conspicuous commission
/ houses had not as much as thousand
! shares to execute in the market. The
| effort to advance prices was apparent
ly based on the somewhat easier tone
which developed late yesterday in the
call loan market, but the developments
| n he t0ronI16o1 Inrth ,of Il S-
| ease in money and prompted the trad
| ers to change their position. They then
sold stocks to force a lower level of
| prices for the simple reason that they
were unable to advance prices without
| meeting large sales to realize. The
sub-treasury statement for to-day
shows that the banks have lost to that
institution since last Friday over s5,-
600 900. This did not include the 81 1000,
900 withdrawn to-day for shipment to
South America. This morning the sub
treasury was creditor at the clearing
house for $4i6981 on account of some
heavy internal revenue collections. 1t
will be seen therefore that the weeks
decline in bank reserves will probably
be between $6.000,000 and $1,000, 600. The
tone of the time money market, which
continues very firm, is convincing evil
dence that no relaxation of the money
market is expected before the turn of
the wear AS the local trust companies
do not make weekly reports of their
condition. that element in the situation
is not known to the public, but there Is
no evidence that the trust companies
are offering any of their resources in
the money market at the present time
and the tendency is believed to be
rather on the side of contraction in
their case. The bank of England re-
tanned it's per cent. minimum discount
rate this week and the private rate
went lower in the London market, but
the banks weekly statement discloses
that the government has disbursed
over $4,000 coo of its deposits which, to-
gether with the shipping combine pay
ments, accounts for the present easier
tendency in London. However, the
bank has lost gold to the extent of
about $3,675, 900 during the week Not
withstanding to-day's shipment of ST.
100000 of gold to South America, which
was in response to a demand diverted
from London, the bank of England sold
to-day a million dollars in gold for
South America and 100000 to Egypt.
The bank of France also shows a loss
of about half million dollars in gold,
but it's loans have been contracted
$36, 900 900 although the note issues have
increased over $4,000, 900. There was
no transfer of currency to the interior
through the sub-treasury to-day and
exchange at Chicago rose from par to
10 cents premium. The advance in the
price of refined sugar and in the price
Of copper here and in London made
Sugar and Amalgamated Copper COM
paratively firm. Fort Worth and Dem
yer City stamped rose sharply on the
prospect of an increased dividend dis
bursement in February. Reports from
trade authorities of a downward ten
dency in the price Of iron products and
a holding back of orders on account
of high cost was rather depressing in
fiuence.
Bonds were dull and easier in SYM