Los Angeles herald., 1905-12-12
~ A Assncinted Press.

Bv Associated Press.
NEW YORK, Dec. 1.-THE stock market
remained under ready control of the spec
ulative organization today and there was
vigorous advance in prices even IN the
face of offerings that looked formidabie
There was no radical change IN condl
tlons from those ruling last week.
The stringency in the money market
was somewhat relaxed, but was by no
means dissipated and opinion in the
financial world as distinguished from
purely speculative quarters, continued ap-
prehensive 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 reversion of speculative attention
TO the standard railroad stocks reinforced
the feeling of confidence over the specu-
lation Attempts to take profits In The
industrial quarter of the market dis
closed some difficulty in making that
cned 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 cau-
ton, and a disposition to feel their way
ton in the stock. But as often as 1t
gathered force for new advance tho
reassuring effect on the market was &uite
perceptibie st. Paul kept effective COM
Pacific also showed a naturally close
other western and grain carrying stocks
moved more moderately In spite of the
good promise of the winter wheat crop
contained in the governments monthly
report. There were no special news to
account for the movement in Union Pa
cfc The speculative advance in Reading
was aggressively renewed also with much
made of the discussion of the labor out
look and expressed confidence In its ad-
iuStment.
The strength in New York Central was
attributed especially to the fact that a
dividend and rights are to come off the
price at on early date.
Copper stocks of all grades were very
prominent in the days speculation, both
on the stock exchange and in the curb
market, some of Them including Anal
gamated Copper, reflecting very heavy
profit taking; The latter rebonded
vance in the price of copper. but closed
unchanged. The market for the metal in
Lyndon was very very strong ,-..
sstently sluggish until late in the day,
but their belated advance was effective in
sustaining the late market.
The action of the secretary of ihe
treasury in ordering interest on govern
ment bonds due January IA, to be paid on
December To- was not regarded in any
quarter as promising effective replenish-
ment of the money market. But great
stress was laid upon 1t by the specu-
latve contingent as an earnest of the
intention or the secretary to use the re-
sources at his command for the benefit
of the money market.
. The amount of this interest is $4,000 900
and by no means all of it's payment Will
center in the New York market. The
taking of profits on the day increased
the irregularity of the market toward
the close, especially in the industrials
and the closing tone of the market was
decidedly Irregular, with prices in some
cases at the lowest and generally below
the best.
Bonds were irregular. Total sales, par
value, $2950,0OO.
United States new 4s registered de-
clined one, and new As coupon Il per cent
on call.