Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-12-30
Transactions Today Were on
Enormous Scale.
NOTABLE END OF YEAR
HUGE BLOCKS OF STOCK CHANGED
HANDS.
Some New High Records Were Made,
Notably in U. S. Steel and
Amalgamated Copper

Special Dispatch to The Star.
NEW YORK, December Ca remark
able year in the stock market came to a
characteristic close in today's short bust
ness session. Transactions were upon an
enormous scale and nearly all of the day 8
more striking movements were toward
higher levels.
Extreme excitement prevailed, especially
at the opening of business. when huge
blocks of stocks changed hands over wide
ranges In prices
Some new high records were again made.
notably in the instance of United States
Steel preferred, while AmalEamated Copper
rose further to the highest figures at which
It has sold In several years. Anaconda
Mining continued its sensational upward
course. Other striking movements in the
Industrial and miscellaneous shares took
place In American Smelling, American Lo-
connective and National Biscuit
Railway List Irreglar.
The local traction shares participated
only to a small extent In the animation
generally shown. and indeed the railway
lists. often opening higher. developed good
deal Of irregularity. Heavy profit-taklng
sales were in fact observed from time to
time in all quarters of the market.
Opera tons here for foreign account were
largely on the buying side on balance. al
though the tone of the London stock mar
ket was quite irregular. One stimulating
influence In the days dealings was ne
construction which was placed upon Sec
rotary Shaw's reported utterances IN Chi
caeo yesterday. the view being taken ttat
re considered the congested condition OF
the money market due quite as much
to activity in Industrial quarters as to the
heavy speculation which has been conduct
ed In the stock market.
Money Relief Anticipated.
Hence an idea prevailed that before the
opening OF business on Tuesday morning
some measures of relief would be adopted
and announced by the treasury authorities.
There Is little news of any Importance
overnight relating TO the market at large
or to individual stocks, and practically All
of the days gossip conducted upon
merely mechanical trading lines.
The Bank Statement.
The weekly bank statement showed an
Increase in reserves amounting to S133.00O
which raises the banks surplus cash hold
ings to 81, 292 900. In the corresponding
week of last year surplus reserves stood at
Si3 6S3 coo, two years ago 80 3i1 600 and
three years ago $40, 1913 COO
Today's increase in surplus was brought
about by reason of a decrease in the de-
post item 10 S'oiirpOp- IiiS
in turn followed contraction in the loan
account amounting to So. 0S2, 600, and q loss
In actual cash of Sill 900. The latter
amount was somewhat below the average
OF the preliminary estimates.
The stock market received fresh sitmula-
lion upon the appearance of the bank
statement and the highest prices of the
day were made after that document was
published. Right at the close of business,
however. there was very sharp and gem
eral reaction, based, apparently, on nothing
more than q rush to take profits at the
time under which prices broke rapidly,
imparting irregular appearance to the
market as q whole.