The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-01
STOCKS CLOSE YEAR FIRM
"COPPER" WAS THE LEADER OF YES
TERDAY's MARKET.
Running I'D of Money Rate to o Per
Cent. Was Got Unexpected and Did
Not Depress the List.

NEW YORK. Dec. 3I-Nothing more was at
tempted in to-day's stock market than to hold
prices This attempt was eminently successful
the market presenting a hard and unyielding
surface. No great power Of resistance was re-
ouIred. in fact, for the pressure upon the market
was the Iightest.
The running up Of the money rate late In the
day 70 9 per cent. the highest Of the movement
was not unexpected. and was OF little influence
on stocks. The rise was much less than often
happens at this period OF the year. and speoula-
tive commitments are apparently not overextend-
81 and not In weak hands, 30 that the shifting
OF loans ~disIodged little stock
Even in the cotton market a more tranquil
tone prevailed, and immediate necessities IN the
way OF closing up contracts seemed 70 be met
Ing upon new ones.
There was no buying demand OF Importance
Que 10 absence OF pressure rather than to any
active show OF strength.
OPPER THE LEADER
The most prominent stock in the speculation
was AmaIgamated Copper. which rose TO a new
high level Of the movement. The only news
bearing upon the stock was the report of large
foreign buying Of copper. the December exports.
st was said. promising 70 show the largest ng-
report that the United Copper syndicate had
been dissolved also had a favorable effect upon
The movement IN Atchison was a turn against
The shorts The current earnings statements OF
prices Of steam sizes by Reading rather depressed
that group for a time. London also reflected a
depressing influence upon this market.
YEAR-END PRESSURE.
The year-end money pressure showed in Lon
don and Paris as well as here. but Berlin's con-
ditiOn was reported TO be unexpectedly easy.
The weekly statements OF the great foreign
banks showed the enormous expansion of credits
usual at the end Of the year, which are con-
tracted again much more promptly In the foreign
money markets than here.
The interior movement Of currency seems 10
have been largely in New Yorks favor again
this week, but the changes in the bank state
ment will be most largely affected by special
inoVements OF cash and by the change in the
OF the expected loan expansion.
The increase in net earnings Of the Union Pa
cihc for November made what was regarded as
q satisfactory showing.
HAL IN THE MARKET.
The halt in the money market seemed to give
rise 20 rather more discussion of the possible
Interior effects OF an outbreak Of war between
Russia and Japan than had been given to that
subject, especially on the side Of possible effects
on foreign money markets. Some comment was
given also 10 the number of railroad accidents
In the recent past and the important trains
which have been affected.
The eliminating horror of the Chicago disaster
gave force TO the consideration of accidents as
destructive factors The closing tone was duh
and heavy.
Bonds We're in light demand, but firm in tone.
Total sales. at par value. were 81. 930, 500. United
States bonds were unchanged on call.
Sales and the range: