The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-12-02
FINANCIAL AND COMMERCIAL.
SATURDAY. Dec. 1,

A SATURDAY, Dec. 4,
Dealings in stocks to-day sank 10 n total
Of less than 100000 shares ard while certain
stocks were conspicuousiy strong and large
advances were made in others net changes
In prices as a rule were in-consequential
and the days market as a whole was a
listless affair. Continued Improvement in
financial sentiment in London owing TO tho
& rapid increase OF cash holdings by the
3 Bank OF England caused general strength
} to-day in the English market and resulted
in further purchases here of stocks for
London account. The position OF the
Bank Of England has been In the last few
weeks so fortified that prophecies are rife,
It seems. in London that the banks dis
count rate soon will DO reduced. Az this
is a time, however, in England. no less than
here, when a large seasonable demand for
( money is experienced by financial tnstitu-
tions IL does not appear TO be thought in
responsible quarters that the Bank OF
/ England will lower its rates for money
before the first Of January. To-day's
: weekly Clearing. House statement here did
z not excite any particular interest as fs
showing was quite in accord with previous
forecasts of its character. II the exhibit was
not an especially good one il was neither,
on the other hand, extremely I'M
favorable. The cash held by the banks
decreased 81, 7s0, 900, or less mar half
q the sun estimated yesterday; but the loans
! Of the banks Increased S5,0s4,OO0, so that
the bank surplus fell of nearly $4,000, 900.
bringing the net surplus down to 81 40 ,l25.
This is a low figure for the time OF year,
; the lowest in fact for the final week in
November since 1890. but the bulk OF what
ever adverse comments there were upon
: to-day's bank statement was central upon
the fact that ban loans were now more in
excess of deposits than at any lime thus far
in the year Among the standard stocks
to-day the greatest strength was exhibited
10y the Atchison common shares, which rose
, to the highest figure touched by them since
I che recent declaration of the Semi-annual
dividend upon the stock, and the advances
: appeared to be- based upon the belief, which
It must b. said seems very" reasonable,
that the next semi-annual dividend upon
the stock will be at the rate OF 8 per cent.
H. will be remembered hat during the week
the Atchison published AN EXTREMELY bril-
liant earnings statemen mt for October show
ing an increase in gross for the mont Of
nearly 81 500, 600 and in net of sSO7 600. There
was an upward movement to-day, too, in
Chesapeake and Ohio stock. based also
upon hopes OF an increased distribution to
shareholders. Advances in the inactive
Virginia and Carolina Coal and Coke and
National Biscuit stocks Of 81 and ia points
respectiveIv occurred, while toward the
close Of the day there Was more or less
of a general buying movement in the stock
Of the Railway Steel Spring and other rail-
way equipment companies. There was
"A .-. $50 HI "a A--.N - n
fluctuations in Nipissing Mines stock in the
outside market. Dealings in this issue
amounted to 10000 shares. much the largest
on record in the life Of the stock, and the
quotation for the security fell to 1879 from
yesterdays closing figure of 23H. The
reason commonly attributed for the heavy
break in the stock is that que stions have
arisen affe Getting the validity OF the COM
psny's title to it's mining lands, 50 that a
hitch has come about in the proposed sale
OF a controlling interest in the property
to we'll known and powerful capitalists.
Up to the close Of busines ~ hours to-day
no definite information on the subject
could be obtained, but later in the after
noon il was learned that the Messrs. Guggen-
helm, who had taken an option on 400, 700
shares at rs and had paid 81, 500 900 for
VI bhS NtOihs hdA ACAuESu W
make the second payment and though
FORGETTING 10000 OF the 100 900 shares paid
for had withdrawn from the transaction.
The last Quotations OF the standard stocks
In the security market to-day we're not
widely different from those made a week
ago and the general tendency of the market
throughout the week was toward a greater
quietness. Fears at the beginning OF the
period that que stions might be raised
by lenders Of money regarding the status
OF the new certificates issued by the Great
Northern Railway Company, representing
a participating interest in the profits Of the
company's lease Of ore lands, practically
disapp cared under the assurances given
by the leading banks that they would ex-
tend credit upon these certificates in the
usual manner. There was a cessation of
the upward movement that has been SO
noticeable recently in the Missouri, Kansas
and Texas stocks folio wing the denial OF
James J. Hill Of any intention on his part
u acquire control OF the Missouri, Kansas
and Texas property. II is the prevailing
belief, however, in the financial district
that the property is destined to pass, sooner
or later, under the control of one of the
large railway systems. The market in its
entirety held steadily during the week under
a variety Of influences working In contrary
directions, such as the improved condition
of the hank of England, the Union Pacific
Railroad ~Company's favorable annual re-
port. anxieties lest a squeeze in money
rates might occur at the end of the month
and curiosity regarding the character Of
the Presidents annual message TO Congress.
New York stock Exchange Sales Dec. \.