The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-12-04
STOCK MARKET BECOMES
DECIDEDLY ANIMATED.
VOLUME OF DEALINGS AP-
PROACHES 100000 SHARES.
Money Rates Still High, but Con-
ditiOns Seem Favorable for
Steady Improvement.

New York. Dec. 3.-The stock market
broke into great animation to-day and de-
| reloped considerable strength. with obvi-
| Gus distress on the part of the short inter
| est The volume of dealings rose to the
| neighborhood OF million shares. The
activity was progressive. the early part OF
| the day being given over to intermittent
buying movements, with intervals of dull
ness. The strength of the first part of the
| day was also confined TO few special
stocks and was interrupted by occasional
selling movements to take profits even in
| those stocks. There was a considera bic
| number of the stocks of the first prom-
nelce which did not come into the upward
movement at all. Nearly all OF the West
| ern stocks were laggards until late in the
uaS ana the cotton-carrying roads had no
Share Share IN the days activity and strength.
Even the movement in PENNSYLVANIA,
winch became of decisive influence was
late III developing. and that stock was one
or the many which was below last night
In the early reaction.
PROFIT-TAKING APPEARS.
The few industrials which spurted up
ward in n sensational manner in the clos
ing dealings yesterday We're inclined to re-
2ction on profit-taking. Colorado Fuel lost
iull = points, as the report of an intended
bond issue, which was offered to explain
Yesterdays rise, did not seem to promise
Wen Tor the common stock. Sugar lost Il
point on profit-taking and Amalyamatc
Copper was a fraction below last night at
one time. The extensive ADVERTISING: of
predictions of an advance in AmaIgamata ed
copper aroused some suspicion toward it,
out the stock came into the late upward
movement. Canadian Pacific suffered from
the report of a new issue of capital. Not
Mlthstanding these drawbacks. the upward
movement OF prices gathered momentum
and volume as the day proceeded, and was
directive in alarming IL more important
snort interest than has yet been reached
since the turn from the extreme denres-
sion of the market.
The causes of the advance were rather
obscure. but vague assertions were freely
circulated of a large and determined alb
sorption OF stocks by the various groups
of great capitalists and banks, which
make up the dominant powers in the
financial world.
Tho long-standins rumor OF an adjust
ment of the dispute between the Gould
and pennsylvania interests fed eagerly on
the report that counsel for the Western
Union and the Pennsylvania had formed
an agreement that no more Western
Union poles should be cut pending Judi
cial decision of the case in controversy.
CoALERS HELPED.
The coalers seemed benefited by the
wintry weather. but the reported Interrupt
ton of traffic from the same cause was
ignored The New York fractions were, in
1act: conspicuous In the advance, Brook
lyn transit belnS one of the leaders of thu,
movement. Rumors of recent takings of
this stock looking to a consolidation with
traction interests on the island of Man.
haitian were supposed to account for its
strength. In a more general way, there
was undoubtedly an improved sentiment
over the general financial and industrial
outlook. Opinions were heard that the
worst of the reaction in iron and steel
had been seen, with good hopes of i'm
provement. Call money loaned again as
high as ~ per cent, and the movement
of currency to New Orleans continues.
But additional engagements of gold in
London. both for Boston and New York
account. offered the assurance that actual
necessities can be provided for. The de-
crease in value of imports ut New York
for November of upward of 100000 is an
index of the favorable tendency of our
foreign trade in its bearing on the money
situation. The Governments estimate on
cotton in the reduced amount of the crop
indicated Is scracely capable of SO favor
able an interpretation. but the prevailing
mood Of the Stock Exchange was bullish
and all contrary influences were ignored.
Bonds were irregular. Total sales. par
value. were $A,S06.00O United States bonds
unchanged on the last, call.