Omaha daily bee., 1905-12-13
NEW YORK STOCKSAND BONDS
Selling to Realize Profits in Evidence
Throughout the Day.
DEALINGS ARE LARGELY professional
Rally In the Last Hour q
Followed by sharp
Break and Close is
Irregular.

NEW YORK, Dec. 12-This was another
day OF active and varied speculation in the
stock market, although the volume Of the
trading was not fully up to that OF yes
terday which reached the maximum for
the season. Selling to realize profits was
throughout the day, but this process was
accomplished with good success and was in
TACT one Of the most encouraging incidents
Oh the market. The only decided breaks
The small general public share in the
speculation has been the subject OF con,
slant comment and skepticism has gained
force as to the ability to dispose at profit
of the enormous accumulations in special
stocks which have been made by pools and
organized parties In the process OF adj
vances in prices to the unprecedented levels
reached. Nearly all the stocks which made
conspicuous gains yesterday were under
this realizing process today. Some of them
opened higher and maintained some OF their
gains without extending them, Reading
being notable example. In others the
opening gains were yielded almost imme-
diately but prices were not allowed to re-
cede to any extent below last night. AS
sustaining forces in the market there was a
return to the method of furious activity
and spectacular advances in special stocks
and those selected today were found again
amongst the industrials in the majority OF
cases. Stocks having to do with the various
metal industrials, especially Copper and
Iron, were conspicuous A substantial basis
for the strength in this group were the
trade conditions in those industries. The
market price of copper was again advanced
that sales ahead for many months had al
ready been made UP TO the productive ca
pacity of the trade at the present profitable
level of prices. The brilliant conditions in
the iron and steel trade also received eN-
tensive attention and discussion by the pre-
sentation OF many detailed facts bearing
upon different departments of that trade 1t
was asserted that the value of November
exports of the products of the United states
Steel corporation was the largest on record,
Notwithstanding the enormous demands and
| the high prices prevailing. Some Of the
southern railroads having large iron traf-
| fic were affected by this movement.
The corn carrying railroads showed de-
gree of strength, Missouri Pacific being es-
| pecially affected by the Missouri state crop
| report A wide advance in the New York
public utilities due to the views OF
| operators regarding the probable outcome
| of the legal contest over the New YORK
| election Rates for money on call were de-
cidedly easier, the rate for renewals read
| ing at 10 per cent or under. This was az,
| tributed to the additional supplies attracted
| to this center from outside sources by the
profitable rates prevailing. Nothing DC
CURED in the routine OF the money marR Rs
| to Indicate a change in the course OF ar
| fairs.
Foreign exchange was firm, with the re,
| Taxation in the money rate. There were sui
large offerings OF foreign trade funds, how
| ever, in this market Discounts in London
were easier and sterling exchange at Paris
| recovered a fraction, but made snort crop
| at Berlin. The situation at that point IS
watched with apparent anxiety ana .nSGG
measures of relief there including the lend
| ing of a large sum in Berlin by the Bank of
England and the reported intention to an an
| ticipate the payment of January ] RUSSIAN
bond coupons in Berlin. The subtreasury
| continued to take funds from the New YORK
market and the credit by that institution at
| the clearing house today rejected con,
| tinuance Of this drain. Stocks made good
rally from the proft-taking early in the
last hour, but broke rather feverish WIN
| the anal dealings and a violent rush OF
| smelling stocks and lead. The closing was
| decidediy unsettled and irregular =
| Bonds were firm. Total sales, par Yalue'
SO. 200, 900 United States new As, coupon oe-
clined " per cent on call. -
| Following were the sales ana range Oh
prices on the Stock exchange TO-DAY