The evening world., 1905-12-21
K4LLGRHT
THURSDAY, Dee, q.

III lhSlJA1 LUZ 81
An attack Of indigestion disturbed the
stock market to-day. More socks were
Offered thea tie market was aN'e to alb
sor1. Early attempts to sell .lrge blocks
Of Union Pacific demonstrated that the
markd. had oeen oyerfed with that
stock. Prices weakened, and the buoy
ant activity Of the past few days was
sharply ciecksd, Brokers VINO bought
stocks eagerly YESTERDAY and the day
before were glld to Il to-day at from
a half to a full point below heir pur-
chase price. Much o: the pressure ia
sell was caused b. the VINO snle calling
OF loans by the banks, During the frs,
hour there was Il great deal Of hustlins
to renew call loans, ard the borrowers
cv need a dIsf osgion to bd the rate up.
There is a grs wing b-licf in Wall street
that another money stringency is imml-
nert. Brokers who have been ardent
bulls for many weeks are now giving
conservative advice TO their customers,
While 10. approheas.vc Of a sharp re-
cessi'n IN prices, uats brokers see In
di,atlons that the marku. has been over
worked d d Il bound to have a rest,
The cu,5'ng of the bull movement In
Urlon pac.n,, Il Is believed, will act as
a temporary cacck on pool operations,
Tho leading pools have taksn advan-
tr7e Of the recent rise in prices 10
quietly dispose Of a portion Of their
holdings. and these J-Gl syntfcates are
satisfied to res. on thcir oars for a
willie. Cool profits have been realized
IN American smelling, Amalgamated,
Cuion Pa,Gc ard Nov York Central,
and there yet remains considerable pool
stock In strong hands,
VITA the increasing Seaviness Of the
market to-,ay offerings Of call money
became moro liberal Tie rae for call
loans was crratic. S.ortly after the
quoted rate had risen to Is per cent.
formal a~nnouucGEcat was made that
the Natloua, City Bank had put out
100000 In call loans at G Tcr cent. An
interesting .alk statement Is expected
tbs week. The New York banks are
steadily gaming, in cash, from the Sub
T.clslry. Since las Friday this gain
amounts to S-,sj3,cn. There are rumors
OF heavy direct shipments Of currency
to Chicago.
Ano.aer S tback mas been encountered
by tie ball pool in Brooklyn RaTlI
Transit, Efforts to create a bearish
sentl Geat against this stock nave been
adro., and pers. tent. Fer some time
past Wal street has regarded f.. ii,
Hartman as an ,nlIlcu IA. factor IN
Brooklyn Rap! Transit, AID Mr. Har.
rman was believed to be IN favor OF
the c0nsolda.lln 0t all Of the local
traction lines In Greater New YORK,
Both Metropolitan and b. h, 4, stocks
have been pogSei up at different times
on scmi-ptiC.u reports That negotiations
for q local traction merger were under
way. To-day the bear operators under
took to knock "a ftN points on b, X. 1.
by circulating tories about the strained
relations bet Ecsn II H. Hartman and
Thomas + Ryan According to Stock
Exchange gossip Mr., Ryan will not
consent to merging the Metropolitan
Street Railway Company with the
Brooklyn Rapid Transit, because Mr..
Hartman Is connected with the as;
named property. on the other hand, Mr..
HARTMAN Is quoted IS saying t.at ne
did not care 81 make any combinations
with properties with which Mr. Ryan
IL interested,
News OF an important acquisition by
the United States Steel Corporation
comes from an authoritative source.
This corporation has purchased a one
half interest In what Is known as the
Walker tract Of ore land at the eastern
end Of the Mesaba Range, The other
half Is owned by James ]. Hill This
particular piece Of property Is not to
be COMPOUNDED with the extensive ore
lands in Minnesota, owned By the Great
Northern Railroad, President Hill
again denies that these last mentioned
lands are to be transferred TO the u. 8.
Steel Corporation.
Trading became dull and irregular in
the afternoon with the exception OF a
spirited movement IN the traction
stocks. Many Of the brokers left the
Stock Exchange soon after noon with
the avowed intention OF doing some
Christmas shopping uptown, The vol
ume OF stock market business was
much less than II has been for several
days.