The Birmingham age-herald., 1904-01-01
NOTHING DOING IN THE STOCK MARKET Operators Satisfied Themselves With Holding Prices WAS AN EMINENT SUCCESS Running Up of the Money Rate Late Tn the Day to g Per Cent Was of
 Little Influence on
 the Stocks.
WAS AN EMINENT SUCCESS

Now York. December 3i.-Nothing more was attempted in todays stock market than to hold prices. This attempt was eminently successful, the market present. ing a hard and unyieldng surface NO great power of resistance was requlred' lh fact for the pressure upon the market was the lghtest. The running up Of the money rate late in the day to per cent inc highest of the movement was not ex- nected and was of little influence on the stocks. The rise was much less than often happens at this period of the year and speculative commitments are appar- entlv not over-extended and not in weak hands. so that the shifting of loans dis lodged little stock. Even in the cotton market a more tranquil tone prevailed and immediate necessities in the way or closing un contracts seemed to be met and A conservative spirit manifested In entering upon new ones. There was no ,uving demand of importance for stock md the firmness of the market was rath- 1T due to absence of pressure rather than
 any active show of strength. The most prominent stock in the speculation was Amalgamated Copper which rose to new high level of the movement. The on- lv news bearing on the stock was the re- port of large foreign buying of copper the December exports, it was said promising to show the largest figures for any month of the calendar year. The report that Tinted Conner syndicate had been dis : solved had a favorable effect upon Aiiiai- aamated The movement In Atchsoh was a turn against the shorts The current asrnings statements of the eoalers ana an announcement of a cut in the price U, steel sizes by Reading rather uePresseu that group for a time. London aiso re fected a depressing influence upon 'niS market. ,.,,o,.od
 The year end money pressure showed tx I-ondop and Paris, as well as here, hut Rerlin's condition was reported to he unexnectedly easy. The weekly state- ments of the great foreign banks showed the enormous expansion ot creults usuai at inc end of the year, and whlch are contracted again much more promptly in the foreign money markets than here' The interior movements ot currency was to have been largely in New York Ia vor this week but the change Tn pahk statements will be most largely afecleu bv special movement of cash and by
 
 terest attaches to the amount of the eX- pected loan expension. The increase in net earnings of the Union account for November made what was regarded as a satisfactory showing. The half m the market seemed to give rise to rather more discussion of the possible ulterior effects of an outbreak of war between Russia and Japan than has been given to that subject, especially on the side of possible effects on foreign money markets Some comment was also given as to the number of railroad accidents m the recent past and the important trains which have been affected.
 The eliminating horror of the Chica- go disaster gave force to the considera- ton of accidents as destructive factors. The closing tone was dull and heavy.
 Bonds were in light demand. but firm ln tone; total sales, par value. Sl,935OOO United States bonds were unchanged on call.