Omaha daily bee., 1905-12-12
NEW YORK STOCKSANDBOND
Market Is Active and Advances 10 Advance
Of Heavy offerings.
UNION PACIFIC LEADS THE Hst
shares of other western and Grain
Carrying Roads Also Move
Upward-BOnds Are
Irregular.

NEW YORK, Dec. 1.-THE stock market
remained under ready control OF speculative
parent difficulty in continuing the vigorous
advance in prices even in the face Of offCr-
ings that looked formidable. There was no
radical change in conditions from those
ruling last year.
The stringency in the money market was
somewhat relaxed. but was by no means
dissipated and opinion in the financial
world distinguished from purely specula-
tive quarters continued apprehensive OF the
capacity OF the money market to weather
the turn of the year without some further
convulsive activity in the department of
loans for speculative purposes. The rever-
sion of speculative attention to the standard
railroad stocks reinforced the feeling of
confidence over the speculation. Attempts
to take profits in the industrial quarter Of
the market disclosed some difficulty in
making that operation a success, and prices
were inclined to yield rather easily under
the attempts to distribute holdings. The
movement In Union Pacific was the strong
sustaining influence in the whole market.
Followers Of the advance into the region OF
new record levels showed some caution and
disposition to feel their way carefully, as
seen In the recent fluctuations in the stock.
But as often as It gathered force for a new
advance the reassuring effect on the mar-
ket was quite perceptible. st. Paul kept
effective company with Union Pacific-and
Southern Pacific also showed a naturally
close sympathy. other western and grain
carrying stocks moved more moderately in
spite OF the good promise of the winter
wheat crop contained in the government 3
monthly report There was no special news
to account for the movement in Union Pa
cifc. The speculative advance in Reading
was aggressivelY renewed also, with much
made of the discussion of the labor outlook
and expressed confidence in its adjustment
Copper stocks of all grades were very
prominent I'm the days speculation. both
on the Stock exchange and in the curb mar
ket some of them, including Amaleamated
Copper, rejecting very heavy proft-taking.
| The latter rebounded strongly on the report
or a further advance in the price of copper,
but closed unchanged. The market for the
metal in London was very strong. The
United States Steel stocks were persistently
sluggish until late I'm the day, but their be-
lated advance was effective in sustaining
the late market.
| The action of the secretary of the treasury
| In ordering interest on government bonds
Que January to be paid on December J.
| was not regarded in any quarter as prom.
| isng replenishment of the money market
| but great stress was laid upon II by the
| speculative contingent as an earnest Of the
intention of the secretary to use the re-
! sources at his command for the benefit OF
| the money market The amount Of this In
! terest is 100000 and by no means all OF
| It's payment will center in the New Yorl
! market. The excess of revenue collections
| thus far this month already amounts to al
most that much and is expected to be az
| much more before the end of the month
! The rise In the discount rate of the Gmperia
! Bank of Germany was expected The oper
| market discount rate I'm Berlin rose in re
| Spouse today and exchange on Londor
| made a further decline. as 1t did also II
! Paris. There was sharp recovery from
| the Saturday decline in the London dis
| count rate and gold was marked up in tina
| market Foreign exchange rates here wert
| firmly held at Saturdays advance, the Der
lin rate being especially affected in re
! Spouse to the action of the bank The sub
| treasury continued to absorb funds from
the banks, but it was reported that consid
cradle remittances were received from
Canadian points. The taking OF profits OF
the day increased the irregularity of tn
market toward the close especially in tn
industrials, and the closing was decidedly ir
regular, with prices in some cases at tn
| lowest and generally below the best
Bonds We're irregular Total sales. pa
value. $3.50. 900. United States new As regis
tered declined and new is coupon u pc
cent on call
The following were the quotations on tn
New York Stock eXchunge:a ~ ..' ."