New-York tribune., 1905-12-30
BULLS BREAK RECORD
TOSS STOCKS SKY HIGH.
Yesterdays Trading Biggest of Any
Day This Year.

Though the rate for call money touched 70 per
cert yesterday and closed 50 per cent with the
bulk OF the borrowing around the latter figure the
big buzz speculation continued Throughout the
stock market session. and the last full days trad
ing Of 1905 recorded the biggest total the year
Transactions totaIled Just under the two million
share mark. and sensational gains and high
records were made by Of the market leaders.
Union Pacific sold up to 1s1A- the highest point It
has attained, and closed right at the top.
United States Steel common enormous trans
actions gained ~ points. closing ~. its top
price for the present move. Ama1genated Copper,
IN which the dealings the heaviest the day,
touched 1lo and closed at le97s for gain of 35s
points
American Smelling and Refining common made a
high mark at 10. and closed at 1891 for
net advance Of 25s points The dealings in United
States Steel preferred were not heavy as IN
some of the others but this stock likewise estab-
Ished q high record of 1o6as It ended the day
4 OF from the top for net gain Of one point.
The pyrotechnics continued in Anaconda. which
sByrocketed up p points on heavy trading, selling
high as 213a and closing al 2Se
Gains Of one point or over were general through
out the list. The only weak issues were the mer-
ger traction stocks. and these neglected
rather than really heavy Industrias and railroads
alike shared in the advance The equipment stocks,
such as American Car and Foundry and American
locomotive. moved up smartly. The latter scored
a gain Of % points
Even the Erie stocks which have Jagged for some
good gains The same is true OF Pennsylvania,
Sugar Atchlson. Atlantic Coast Line. Baltimore
and Ohio. Brooklyn Rapid Transit. Chesapeake and
Ohio St Paul. Big -Four. Consolidated Gas. Louis
vile and Nashville and many others. Hooking Val
lev common jumped up 915 points on few thou
sand shares. Wells Fargo Express. which is rarely
traded in. sold ex-dividend. and advanced 1412
points
Tennessee Coal and Iron was quiet and steady be
tween 1922 and 134 Southern Pacific did not follow
the strength IN Union Pacific neglected and
closed without gain loss 66SS- Reading ad-
vanced IA points 10 1885, and closed at the top
Some Of the high priced stocks like Northern Pa
ciic New-York Air Brake and Great Northern pre-
ferred. advanced smarty small transactions.
Where 10 get the money TO carry stocks seemed
70 bother Spectators for the rise but little Bor-
Towers expected 10 pay high rate for money over
the years end, but all this seemed 10 have been
high rate Of Thursday would not be duplicated Cali
money opened al 90 per cent and ADVANCES 70 10 per
cent. from which point It reacted to 30 per cent.
which the ruling quotation al noon: Most OF
the renewals were from 30 per cent TO 50 per cent
After midday the rate dropped 10 80 per cent, but
advanced again in the last hour to 90 per cenS: 1
stifened and closed in the neighborhood OF % per
Money poured into the loan market from all over
the United States and the volume OF the press5nt
all that was offered was loaned without nsIeriaI5y
s. =6o 30 10 be loaned out here on call Loans made
yesterday cannot be called to-day and thus carry
until next Tuesday and this OF course, s WaS
IN part responsible for the mantainence or the sun
call loan rate. Russell sage was al MS once as
on Thursday and tempted by the high rate, loaned
large sums TO responsible parties
There was every incentive TO buy stocks yesteI-
DAY however, and few reasons for selling In the
first place stocks bought yesterday will not be pald
for until next Tuesday. while the sellers OF STOCKS
Yesterday must carry them over the years ero pc
fore deliveries can be made. there are no oe-
liveries Of stocks to-day 90, :.
Bankers ana brokers seemed 10 be ,encourejEn nlg
the bejef that the call money market VIII be
fairly easy next week. although there is little lke
cent for the first week Of the new year one oahker
said that the reason for the per cent Tale at Ise
close on THURSDAY was because there was sue sue
7en influx of outside money just before the c!qse
1Tl1 lenders preferred TO take q low rate rather
nan have the money lie idle overnight -,
will only a TwO-nOur Session on tILe
C+ooL Exchange. but il is the opinion OF man
teI[a brokers that there will be some lively ootnss
hl+ween 70 and y this morning On accoumht IN .E oI
- haaxv dividend disbursements on the ITs1 OF tte
[s- -ear and the probable large increase IN ILIe
49, eT7 this week the outlook IL for weak p&&ik
s1ateT9ent to-day but speculator ana prokeI
.ee-oe5 10 ignore this. As soon as the IN
- tl1a dividend checks begins money oushL 70 ~"
0ninion seems TO be divided as TO wherner , 's s
rese1f high rate for money is naIuTaE resuAI ~ ~
re extra demand this period or ne @ rats
--e-f1I bankers have deliberately holSteu. me iO
- eto1 the present overdone bull specuIauoh'
- +ba Tribune Al