The St. Louis Republic., 1905-12-20
EFFECT Of Cll)cAo0 RAnk
fA)lUoee IS DISAPPEARING
HYSTERICAL FIT IN NEW
YORK ENDED.
Shaking Out Of Weakly Secured
Holdings Seems to Have Bene-
fted the Stock Market.

New York. Dee N.-There was no fur:
thef trace N the otock market to-day Of
bank failures. sOecuistive hoidsrs Via
had been swept or their feet seemed "a
have their compoeure restored. o. 70 have
given place to other holders Of . firmeE
1t was asserted 10 fact that the shaking
out OF weakly secured holdings by ye0teY-
days sudden slump had benefited the
There vas evidence also Of some re-
Qutfements 70 cover shorts. which preSum.
ably were the after;resuits Of YESTERDAY.
and uncertainty as were manifest in the
market were tfaceable to conditions nor:
NAL to the closing period Of the year and
to the days Developments.
However. there Was a distinct revival ol
aggressive bullish spirit In the maTke, and
many strikiae advances were recorded. al:
in q few stocks. Cnion Pscific was the
backbone Of tha speculation and wAs
pushed up bv seemingly endless buying to
z ne. record price. The brokers en-.
rumors that the principal competitive
transcon;inental interest was seeking ef-
fective repetition In Union Pacific. There
PAcis,cs.
For the most part the days notable
movements were elsewhere than in the
sumption OF control Of tennessee coai and
Iron bv the new purchasers seemed "a
Arouse apprehension that the competitinu
In the buyine: which has made the hish
level for the stock Mieh: be considered "a
be ended. sharp break resulted. The
marking I'D Of AmalgaMaied Copper &c
par AGAIN had strengthening eltec, on
Adverse factors which were feared
failed to make their appearance ard TIE
speculation Was thus encouraged 10 Push
It's Efforts. Money vas auotsh'y east. :
some very large further shipments to
Chicago through private sources. TIL.
contribution to the money market by the
anticipated January interest figured
helped to this result. and last weeks late
dividend disbursements were also gwen
credit for part Q: II.
last 5y which remtttances can reach Lon
don in time for the January settlements.
and yesterdays demand vas SO urgent
Bu, the demand tCz1sx ss aIass Wss snTsIisinx-
ly light in view of this ciYcums'a ance and
sterling exchange early yielded from yes
fers!ay's advanced level. Many large de-
London. and an advance In the Bank of
England discount rate on Thursday Is con-
stGered possibility.
to be rc!egated completely 20 the hack
ground. the possibility vas discussed that
the clearinghouse settlement OF the d;f-
ftcu!ty proposed might involve the tying
IE oI CVSssIIet1Uie SeSOl.'eS WIN y'GSS!.
hi" effect on the money situation during
tn. turn Of the year.
The decline In activity in the market
vas partially attributal I" the approach
of the holidays and the normal DISPOSE
tion a; that time To clea- up commitments.
although the proposition 10 clcSe III. Stock
f:xcsanS. fOc an extra holiday "n :;aius-
DAYS. seemed ;o find no favor. The sharp
break IN Peoples Gas Was attributed by
run."- To liquidation growing out "f
the Chicago failures and increased :! dis
position to take prohts all through the
market.
Prices were carried considerably below
the best IN consequence and some Of the
important gains were completely wiped cut.
The closing Was easy. After the close tho
reduced dividend and reduced rrics Of gas
put in effect by Peoples Gas became
known. Bonds w.re irregular.
Total sales par value. s. .SS'sO. L. s.
new 81 declined Il per cent on cali.