The Birmingham age-herald., 1902-12-23
LARGE DEALINGS
 IN STOCK MARKET Good Volume ofBuSineSs Added to Markets Strength IRREGULAR AT THE CLOSE Trading Showed Diminished Animation as the Day Progressed, But the
 High Level of Prices Was
 Pretty We'll Maintained.
IRREGULAR AT THE CLOSE

New York, December 22.-There was good volume of business in stocks to- day and.the market showed strength and breadth. The large dealings and the not able strength in a few prominent se- curities had a notable sympathetic eI- feet on the whole market. The trading Bhowed diminished animation as the day progressed but the high level of prices attained was pretty well held, although the closing was slightly irregular by reason of a feverish movement in sugar. The stocks which led the market had individual grounds for strength, mostly in the shape of rumors of a prooanle increase in dividends or of other pene- fits. This was the case in Missouri facl- 6c New York Central and in the out side market, northern securities. The ru- nor concerning northern securities was to the effect that there is to be some extraordinary distribution among Great Northern stockholders of which the Northern Securities company is the prin- cipal one No official sanction was gwen 4o any of these rumors, nor was there any confirmation of the rumors that the value rights are to be given to St. Paul stockholders in connection with the new
 
 attributed to a further drive against the shorts in view of the prospects of the Cuban reciprocity treaty. Canadian Pacl- fc and it's allied stocks were strong fea- lures without special explanation.
 Amalgamated Copper was helped by re- ports that copper litigation in Montana has been passed indefinitely by common consent of both contending interests in the industry The room traders on the stock exchange were somewhat. skeptical of the advance and contested 1t by short sales. There was evidence of activity on the part of the recent pools and large professional operators were supposed to be at work to leave the level of prices United States Steel was prominent and strong, although somewhat sluggish as usual Satisfaction was professed over the status of the Venezuelan question, and confidence seemed to be felt in the money situation. Concessions in rates for time loans helped this confidence ma terially The 6 per cent rate was not shaded for any longer time than 60 days The continued downward course for sterling exchange gives rise to a sup position of some special development in that field not yet disclosed. There are vague rumors of blocks of railroad bonds piled abroad, although reports of large railroad interests report that the Amer lean market still offers the best field for railroad bonds. The suggestion comes from Berlin that foreign bankers coop erated with New York bankers pool in guaranteeing the $500O0,000 fund for the money market to the extent of at least agreeing to refrain from further contrac- ton of credit to New York
 The large movement of currency to New Orleans s55O,O00, today, following large shipments on Friday and Saturday, Is supposed to be for the purpose of hold ing cotton in that market in anticipation of higher prices in January. The move ment seems to cause no misgiving, al- though it seems likely to cut down the export movement of cotton and thus eff feet the foreign exchange.
 The bond market was broad and strong Total sales par value $2,20O,00O.. United States bonds unchanged on the last call