The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-01-01
CULVER OF DREAD
SHAKES THE MARKET
Apprehension Felt for Another
Attack This Week
TRADING WAS ANIMATED
CLOSING Week of the Year Has Been
Very Cheerful In Stock Market.
Total Bond Sales
s3,s65, 900.
TRADING WAS ANIMATED

New York, December 31.--There was
rather marked revival of apprehension OF
"a successful attack upon stock market
Values today, caused by renewed procla-
1nation of things to happen next
week by the same authority that upset
Hhe recent market. The sharp dip in
prices of today was clearly assignaole
TO the CULVER of dread thus caused. The
days trading was in consequence rather
animated, contrary to expectation as the
principal motive, for holding a session
lat all today was to bring together the
members of the annual New Year froiic
(which followed the session of the ex-
change. The spirit Of uncertainty thus
awakened induced considerable throwing
lover of stocks accumulated during the
weeks rise, and resulted In an effective
curtailment of that rise.
Amalgamated Copper showed itself SEN
sitive to the new threat to the market,
but that stock was supported In the latter
dealings and closed unchanged. The Pa
cities were notably weak and were az
fected by the denial of rumor set IN cir
eulation that the Northern Securities de-
cision had been handed down. United
States Steel preferred was under pressure
and showed poor dallying power. With
fresh decline in the late dealings con-
tributing to the irregular closing The
bank statement reflected only a part OF
nhe expected cash gain, but the shifting
of trust company accounts and -Ae an
hual settlements was to be reckoneo win
as confusing influence on the BANK state
ment, and the showing was not an infu-
nace on stocks. Neither was there any
thing In the days news affecting prop
erties to influence the operations In the
market; total sales of bonds, par vaiue'
1885,, 900.
The closing week of the year has been
a cheerful one in Wall street. There has
been a steady and quiet uplift of prices
without signs of feverishness or specula-
tive excitement, except that the trace
showed considerable growth OF animation
toward the last by reason OF the encour-
agement caused by the advance. The
distrust and settlement due to the sudden
collapse Of last month have largely sub
sided as the sensational features of the
campaign against prices were eliminated.
Investors were in the market In antic1pa-
ton of resources which are to accrue to
them from the January disbursements
of profits which are to be on a scale I'M
precedented. Naturally with the prospect
OF this resource there mas Deen DuyliiS ny
dealers who expect to make their hold
angs to the Investment demand after the
turn of the year. The incentive to pres
emit holders to help along an advance In
prices to afford more profitable basis
on which to sell to coming investors has
had its influence. Akin to this is the de-
sire Of great financial institutions with
large holdings of securities to see good
prices In annual reports.
But the presence OF these elements In
the market does not alter the fact that
the effort to lift prices could not have
been successful had there been any i'm
portant pressure of securities by dissat-
isfed holders seeking market. The easy
terms prevailing In the loan market and
the abundance of funds offering are al
most without precedent for the final week
of a year, and the condition of the money
market Is the more remarkable in view
of the outward movement of gold. BY
the middle Of January the national banks
will be called up to surrender $4,000, 900
of government deposits. These consider
'ntions have been factor in the conserv-
alive dealings Of stocks Of several weeks
past.
The expressed desire of railroad au-
thorities for a feasible means to MAIN
tain the stability of railroad rates and
the possible advantage to great corpora