The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1902-12-26
NEW ipnK STOCK. MAHkET.

New York. December 23.-The rise In
the GALL money rate today and the ap-
proach OF the Christmas holiday cola
bined to prompt operators in stocks TO
close UP their The Dersis-
tence OF the trading dement, in putting
out short contracts has acted as a sus-
taining influence or the market. As II
did TO some extent TO-DAY. No raiLinS
tactics were apparent and the decline
vas rather gradual and In good order.
The days losses were quite uniform
In the active list ranging generally
from one to one and one-half. In the
case of stocks where they were less or
more than this, there were special cir
cumstances 10 account for the move
ments. Sugar fell an extreme ? S-i be-
low last night on account OF the re-
ports from Washington OF preparations
TO oppose the Cuban reciprocity treaty
on the part of an element 81 the hest
sugar men. Recent reports have held
that the beet sugar interests had been
~reconciled to the Cuban treaty. and
there was active speculation in sugar
ON this account. This stock vas thus
acute affected by the profit-taking
movement today.
New York Central suffered in a sim
liar way owing to recent rumors that
the dividend was to he increased. So
such action was taken today. and the
decreased net Carnings reported by the
New York Central ana affiliated lines.
together with the return OF the Canal
southern semi-annual dividend 10 one
per cent. had an u~nfavorable effect up
on the Vanderbilt lines. Professed ex-
pectations of an increase in the Mis-
souri, Pacific rate also were disap-
pointed.
On the other hand. the c~oalers. es-
pecially the Readings. were more firm
iy held than the list in general. Ru-
unors were circulated regarding Dctn
Reading and Brooklyn Transit. thrr
the Pennsylvania had secured control.
tut the favorable statement of net
"arnings OF the Brooklyn Rapid Tran
sit for November and the profitable
coal traffic of the coalers since the ces-
Sation of the anthracite strike We're
considered more plausible reasons for
the strength of those stocks. Louis
vile made a Spectacular squirt early in
the afternoon and a quick relapse be-
rause the board room traders leapad
TO q mistaken construction of a report
Of n dividend on a Louisville street
railway company as applying to Louis
willie and Nashville. The STOCKS quick
relapse renewed the heaviness I'm The
general market
The rise in call money rates was duo
in part to temporary causes. but IL had
;nr effect of renewing fears of a sA-
We're squeeze in the money market be-
fore the end Of the year. The payment
of SO, 900, coo of subscriptions to the
Western Maryland syndicate fell duo
today and necessitated some shifting
If loans. Some large sums were trans
ferred to Londo through the agency
Of the cable. This movement is said to
lie due to the custom Of the London
banks to prepare a so-called window
dressing for their year-end report.
The movement of currency to New
Orleans continued today [ othe extent
of $500, 900 thus bringing the total trans
fer TO that point from New York for
the last four business days to SLATE
600. Such q movement to New Or
leans is not unusual late In December
for crop moving purposes both of cot
ton and sugar, but it is not unusual or
Ii to reach sucl. dimensions. The spec,
ulation In January cotton Is suppossN
to account for the present special de-
mand.
The bond market was quite broao
again today and showed some points
Of strength, making the price moya-
Inent as 4 whole irregular. Total sales,
par vaiue were s. 05, 900. Unlte.1
States bonds were all unchanged on
the last call. Sales Of stocks today