The San Francisco call., 1903-12-10
EASTERN MARKETS.
Ne7v York Stock Market.

NEW YORK Dec 9.-AnOther active and
exceedingly irregular market to-day gave evil
dence Of a growth OF variety and interest in
the speculation although the total dealings
fell slightly below those Of yesterday. 1t
was perfectly obvious TO the most casual OBJ
server that there was an enormous unload
ing of stocks 10 take profits By these who had
bought lower down but the selling was not
pursued at the expense of values. and there
were recurrent rallies in the general list
There was a general agreement also that some
OF the most conspicuous strength OF the mar
ket was due TO hagrant manipulation. and
that this designed to cover selling to
realize elsewhere But there was fairly good
aDsofptlon OF the selling and a growing nope
of ar awakening interest in the market the
part Of the outside public. The professional
element or stock Spectators IS deeply imbued
with conviction that no widespread demand
for securities is ever induced without the pre-
liminary invitation Of a spectacular and man
ipulative advance in prices. The fact that
the conditions in the money market have be-
come such as 10 allow resources sor this kind
OF campaign and that conditions az large
have attained a state which relieves the stock
market from an overwhelming food &C liquida-
tion upon any advance in prices are looked
upon py the average Spectator as quite sub
stantial grounds for bulish enthusiasm The
leadership Of the market to-day shifted back
10 Brooklyn Rapid Transit and Amagamated
Copper. Brooklyn Transit rose 5as There
is a deeply ingrained theory in .he speculative
world that all the New York public utilities
viii be brought ultimately under a single con-
troll. giving opportunity for important eco
Monies, especially in the matter OF electrical
o
speculation. but far could be author
itatiyely learned there was absolutely new
development bearing the conjectured out
come. The adoDtion by the Montana Senate
OF The sO-called flair trial. bill intended for
copper litigation was the only affecting
Amalgamated Copper. and the speculation in
that stock was principally Influenced by the
varying surmises TO whether the Standard
OIL interests were buying selling in the
market The stocks which were strongest and
most active yesterday during the pause for
profit king in the advance of Brooklyn Rapid
Transit and Amalgamated Copper were freely
sold 10 take profits to-day. The selling move
ment became comprehensive In the last hour
and left net gains only for the stocks men
toned for particular strength. Additional
gold was taken IN London to-day. but that
center continued TO send orders here to buy
stocks II is said that these holdings are to
be carried in New York and with money bor-
rowed here The real origin Of the orders is
open to conjecture Chicago Is credited with
large buying Of stocks and with some lend
ing OF money here also.
A feature Of the money market the
oeipt by telegraphic transfer of $l39 900 from
San Francisco and moderate outgc to New
Orleans.
TIE bond market was irregular. Total sales
s.. 095 COO
United states Is advanced * and the 3s
i per cent on the last call
The Stock Exchange will be closed Satur-
day. December %. the day after Christmas,
well as on Christmas.