The St. Louis Republic., 1904-12-20
STOCK MARKET FALLS
INTO A HOLIDAY RUT.
AMAIGAMATEDS ECCEN-
TRICTTY AGAIN POTENT.
Movement Is Not Violent, but
Quick Response of Other Lines
to Its Fluctuations Is
Prominent.

New York. Der I9.-The stock market
fell into a holiday rut to-day. Beyond
that fact there is little to chronicle. There
was n brief recovery in the early dealings
from the decline which w.Is in force wheT!
tho market closed Saturday. but fresh &C
centricity on the part Of Amalgamated
Copper was tfe signal for a subsistence OF
interest aisdEa sinking Of prices, as on sat
urday- ~fjn
The movement in AmaicaTla:ed Copper
was not violent. but the quick response of
the rest of the market to its slight dem
onstrations was testimony to the state
of terrorism il which an element is held
by the threat of this stocks actions.
The advance. which was interrupted by
the intimida-ing effect Of the break in
AmalgamateJ Copper. was not resumed
with any force or confidence Afterwards.
although the copper stock itself steadied
and became quiet without further disturb
ing manifestations.
The rise was led most conspicuously ty
the United States Steel stocks. and many
reports were published and in circulation
of the prosper Gus condition Of affairs of
the corporation at present. Among these
was an assertiori that it had been deter
mined to raise the prices for steel plates.
bars and structural material. the amount
of the advance being alone uncertain.
The Pennsylvania group of railroad
stocks made its almost invariable re-
eponse TO news OF steel trade conditions
and TO reports of traffic officials to the ef-
feet that the congestions of all com-nodi-
ties connected with the steel trade was so
great rs to threaten car shortages on the
Eastern railroad lines affected.
Reports of railroad traffic from other
sections were almost equally favorable
and the days returns OF gross earnings
OF railroads for the second week in De-
cember showed good Uniform increases
throughout the country. The expansion
pecia.ly notable and helpful to railroads in
the corn trade. The bank statement of
Saturday was read as giving assurance
OF exemption from stringancv over the
year end. but the conservative tone de-
velopment in the trading may We traced
to mohey market considerations.
1t is felt that the Present assurance Of
quiet In the money market has only t-ren
secured by the withdrawal Of commit
ments to the stock market which was
holdings. The time - rot considered
propitious for Immediately tying up
these resources again. The yearly require
mentS remain 10 be met and the current
Of gold is still outward. Demand was
strong for exchange for Wednesday,
steamer. that being the last ship avail
abe to meet obligations in London he
fore January l. 1t Is not forgotten. more
over. that the withdrawal of Si0.0NCDb oc
Government deposits is TO he net hy Jan
day to about where they loft or on Satur-
day and the closing was heavy
The sale Of a 1eo-share lot of Chicago
Burlington and Quincy at the record price
OF IS was an incident OF the day in
connection with reports of an extra divi-
dend distribution This stock has only
appeared on the tape at long intervals
and for sales of small ordered lots since
the Joint purchase by Northern Pacific
and Great Northern
Bonds were firm. Total sales par value
S2ff.0W United States bonds were un-
changed on call