The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1911-12-20
BULLS FIGHT TO
REGAIN MARKET
Bears Had the Wabash Re-
ownership as Adjunct in
Their Favor

New York, Dec. 20.-Stubborn re-
sistance was offered in the stock mar
ket today to a renewal of the attack
which depressed prices yesterday. The
bears had the Wabash ~receivership to
help them. They were Influenced as
we'll by the large amount of profit
taking yesterday which is one way OF
thinking indicated that the effect of
last weeks especially favorable devel-
opments had worn off. But the mar
ket possessed a degree of underlying
strength which put to naught the eff
forts of the bears. the chief result of
whose activities was to increase the
of the short interest. Prices fell
off after the opening, but declines
among the standard issues were small.
In the last half of the day there
was a creeping recovering and to-
ward h close a spirited buying
movement elevated some of the spec
ulatlve favorites a point or more
above the previous days final prices.
Interest centered in the course Of
the Wabash securities at the opening,
although no violent declines were ex-
pected since Wall street was too we'll
condition to be taken off its guard by
the appointment Of a receivership.
There was no excited trading in these
issues. The declines of the common
and preferred stock and the four per
cent bonds ranged between one and
two points.
The common stock touched s ga,
the lowest price since 1907 and the
preferred IA 1-2, the lowest in three
years. The bonds fell to SO.
The statement hat arrangements
had been made for the payment on
interest On the bonds January 1 led
t oheavy buying of these securities
which rose to So 1-2, a gain of 2 1-2
on the day. Both classes of the stock
made partial ~recoveries. It was be-
lieved that the ultimate effect of the
Wabash ~receivership on the general
market would be good, as it would
remove one element of doubt and fur
nish the best medium for the solution
of the company's long standing diff
culties.
United States steel, after remaining
quiescent yesterday, resumed its ad-
vance today and touched 50 Ia, an
overnight gain of 1 1-2 and the high
est price since September. Lehigh
Valleys recent advance to the accom-
paniment of a possible extra distri-
button to stock holders was halted.
The stock was sold heavily and lost
nearly q point. A number of special
ties, including the fertilizer shares,
International Harvester, National Bis
cult, American Beet Sugar and one of
the Independent steel companies made
good gains.
After an interruption Of several
days. the expectation Of gold to South
America was resumed, 500, 900 being
withdrawn from the subtreasury for
shipment. Funds continued to flow
into New York from the interior.
More money Was loaned to Germany
for the year end needs. The Berlin
banks offered as high as 6 3-4 per
cent, and some large sums were plac-
ed.
Business was active and broad in
h bond market. Price movement
were mixed. Total sales, par value.
S4,525,O00.
U. s. bonds were unchanged on
| Cattle Market.
Chicago. Dec. 20.-Cattle: Receipts
5000; steady; beeves $3.50 $50:
steers s4.5o@s.5o; stockers and feed
ers $3.25@5.70; cows and heifers
s1.90@6.5o; calves $5.00@7.5O.
Hogs-Receipts $4,000: market
slow and steady: slight $5.55 6.IO:
mixed $5.7g@6.25; heavy 1886 a 6.25:
rough $5.85@6.OO; good to choice
heavy. s6.oo@6.25; pigs $4.5o@5.70;
bulk Of sales $5.95 @6.15.
Sheep-Reccipts $4,000; market
steady; native $2.50@4.00; western
s2.7O@4.00: yearlings $500 5.25:
lambs. native. $500 O. 500; western
$4.25 $500.
Money Market.
London. Dec. 20.-Money and dis
count rates were quiet TODAY.
The stock market was dull and ir-
regular. Home rails were stronge
on the better labor outlook, Roya]
Mail shipping shares were strong and
Canadian Pacific advanced on good
traffic reports. Copper stocks and
Nanirs closed fiat.