The St. Louis Republic., 1903-12-31
DISPOSITION TO TAKE
PROFITS WEAKENS STOCKS.
BUT PRICES ARE HELD
STEADY AT THE CLOSE.
Financial Groups Anxious to
Make Best Possible Showing
in Year Ends Reports.

New York, Dec. 3o.-There was pro-
nounced disposition to take profits in to-
days stock market, as was rather clearly
foreshadowed by the action Of tho late
market of yesterday, but there was not
lacking a fostering care of the market.
which held 1t in check on the declines
and nursed the recovenes. The opinion
was thereby caused that while the large
interests behind the market were dis
inclined to continue the advance in the
face of a stiff call money market. they
were by no means willing to relinquish
the advantageous positions secured for
the year-end. II 1t is true. as generally
supposed, that the great banking groups,
with their allied and complex interests,
companies and other financial institutions
have given a friendly countenance to the
advance in prices to correct the discrep-
ance sheets. investments held, etc. 1t
would not agree with those purposes to
have the advances yielded on the very
eve Of the New Year.
MARKET WELL WATCHED.
The pinch in the money market was ef-
tective in dislodging some speculative
holdings in to-day's market. but the
the way in which influential stocks were
bid up to hold prices. The Pacifics and
the United States Steel stocks were con-
ws soms have Of ese
lent advances in the last few days were
forced back with proportional violence in
the days realizing. The erratic stocks
list. list III The New YORK Public Utilities hia 81 were
also markedly rea tionary. The Reading
statement Of November net earnings,
showing decrease of ssE2 900 for all. the
the coalers The comparison Is with the
period Of greatest activity last year, sue
ceeding the settlement Of the strike. while
large anticipatory buying last spring at
the lowe-prfce schedule
STILL is ACTIVE
Tho speculation In United States Steel
preferred was very activa throughout the
day and was accompanied by many ru-
mors as to the coming dividends to be
decided early next month.
The price Of the stocks had been ac-
cepted as discounting probable suspen-
reduction on the preferred. The rumors
current to-day that the preferred dividend
would be maintained and common divi-
dend possibly retained were therefore suf-
flcient to alarm short interest In the
stock. The opening rate at per cent was
the highest of the day and comment on
the Stock Exchange was caused by the
fact that one Of the great banks was free
| ly calling loans. while another was as
freely offering funds, with a resulting
break in the loaning rate late in the day
| to nominal figures, the two institutions be-
ing generally accepted as representative
| of the two great groups OF capitalists in
| the street. The inference was drawn that
I, there was a difference of opinion between
| the two as to the stock market policy
| The feyerish and excited cotton market
| had some disturbing effect In the stock
| market. The closing was dull and heavy
| but at a considerable recovery from the
| lowest.
Bonds were active and easy. Total
sales, par value, $2140,000
| United States bonds were. weak owing "a
| the expiration Of the refunding privilege
| The 35 were down to II, the old As
registered Q and the old ls coupon 2k on
| cql1