The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1902-12-02
Financial.
TESTEKDAY'S STOCK MARKEI.
Notable show of strength-Pricss Gem
orally Lifted.

orally Lifted.
New York. Dec. 1-To-day's stock
market made a rather notable show of
strength and prices were lifted quite
generally per cent. or over. This was
due in part to the sympathetic effects
of movements in special stocks in which
a speculative campaign was going on.
But general consideration also played
part in to-day's market. OF the
special movements the most notable
was in the local traction group. The ac-
companying gossip quite generally
pointed to plan for a comprehensive
merger of all the traction facilities
within the greater New York corporate
limits and a supposed share in the con-
troll by New York Central and Pennsyl-
vania. Manhattan conspicuously alb
stained from a share in the movement
and was at times below Saturdays lev
ell. The dealings in this stock We're
rather light. This gave some color to
supposition that the movement among
the other fractions was designed to ad-
just their valuations to the higher lev
ell already attained by Manhattan.
Another conspicuous center of strength
was the soft coal group, especially the
north and south roads traversing the
region between Ohio river and the lakes.
Rumors were current of a plan for
| combining all the railroads in the group
by making holding company of one
of the smaller companies in the group
Hooking Valley and Kanawha and
Michigan were most conspicuously af-
fected. Among the more general con-
s1derations which affected the market
was hope that the December disburse-
ments of interest and dividends, which
are estimated at about $75,OOO,OOO would
afford relief to the local money market
! The payment in London to-day of
twenty to twenty-five million dollars
on account of the shipping combine also
aroused hopes of easier conditions in
| the money market. Actual quotations
for call money were firm under the con-
| tinuing influence of the preparations for
the December disbursements and time
money rates were unchanged. New
York exchange at Chicago rose again to
par, but a deposit was made at the sub
| treasury of $250,000 for transfer to the
interior. The opinion Of bankers, in
/ spite of to-day's stock market view, is
| for continuance of close money condi-
tons over the end of the year. There
were some speculation on the assump-
| ton that selling of stock on the
| ground of supposed antitrust views to
be expressed in the presidents message
would prove unwarranted. Good in
creases in net earnings were shown for
October by st. Paul, Louisville and
Nashville and Canadian Pacific, and
only small increase by Union Pacific.
! Some very heavy blocks of st. Paul
were placed on the market, the
| source of which gave rise7to much Cos
| sip in connection with the authorized
new stock issue. The mystery of the
selling was unrevealed. The seasonable
cold weather had good effect on the
general market and more especially on
the coalers. There were occasional set
backs throughout the day. but the clos
ing was firm and at about the top for
many stocks.
Bonds were irregular. Total sales par
value, $2010,000.
| United States IS coupon advanced a
per cent. on the last call