The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1912-01-05
The Markets
MARKET
WAS CONFUSING
Prices Were Put Up in One
Quarter And Down in
Another

New York. Jan. 5.-A series Of ir-
regular movements made today's
stock market a confusing one. Prices
We're put up in n quarter and down
IN another. Underneath it all there
was percepttble a heavy, dragging
tendency as though the market were
being called upon to absorb all the
stocks which could be thrown upon
1T without upsetting prices precipi.
lately.
While the leading stocks were
showing heaviness some Of the spe-
cialties were moving up, apparently
as the result Of manipulation. The
manner in which stocks have been
supplied on temporary advances in
dtcates that a steady distribution has
been under way on the part of some
large holders.
Union Pacific. which has been most
steadily under pressure, once o
was the conspicuously weak stock Of
the speculative favorites. Attention
wa attracted to this stock by a fall
ing off Of s~1,142.00O in the Novem-
Der earnings of Illinois Central, an
other member Of the Hartman
group, due in large measures to the
heavy expenses resulting from the
shopmen's strike.
The decline in Union Pacific,
which at n time reached two
points, APPARENTLY was independent Of
this influence.
Lehigh Valley continued its ascent
touching 1874 1-2, the highest figure
at which it was sold since being list
Fash preferred and Rock Island pre-
ferred We're unusually strong, as
were a number of specialties, includ-
ing Consolidated Gas and the local
traction issues. The copper stocks
were stimulated by a higher quota
ton for-the metal. Sales were re-
ported at IA 3-S for European deliv-
cry. he equivalent of IA Ia here.
The money market was consider
ably easier here. The relaxation in
rates after the first Of the year has
come earlier than usual this year
and a further decline i'll time loans
is looked for. The statements of the
Ban kof England and the Bank of
France which We're of unusual inter-
est because Of the veal end strain up-
on European financial markets, re-
vealed directly opposite tendency.
The Bank of England gained near
ly 100000 600 in cash, while the
Bank Of France lost $1,000, 900 gold
and silver.
Another small shipment of gold to
South America was arranged today,
the mount in this instance being
100000. 1t is understood that fur
Their engagements are under consid-
Grafton.
Bonds were very active, with a
M IS registered declined to 1O1 5 8.
These bonds were allotted last June
at around 102 1-2 to banking syndi-
Gates. Today's price was the lowest
ever touched and compares with a
high level of 1O3 reached on the stock
exchange last June. Total sales par
value. s5,%O71, 0O0.
United states bond on call.
Money Market.
tiful and discount rates were steady
today.
The stock market developed ire
gularity. Realizing weakened Kaffirs
coppe shares n home rails, but
gilt edged securities We're firm on the
reinvestment of dividends. Consols
in which the settlement was conclud-
ed, declined an eighth. Canadian
Pacific was a firm feature on Berlin
support.
American securities opened steady
but prices moved irreSularly during
the forenoon. Canadian Fssifc gain
de / 1-2 points. New York, selling
depressed the list in the afternoon,
but the market recovered iE the late
trading under the lead nf United
States steel, and closed seeadier.
Cattle MarEet.
Chicago. Jan. 5.-Olose: Cattle
Receipts 5000; weak; beeves $4.70--
$50; Texas steers $4.25--5.75: west
ern steers s4~.3O--6.6O; stockers and
feeders $3.25--5.75; cows and heifers
$2.OO--6.5O.
Hogs-Receipts $4,000; strong to s
cents higher than yesterday; light
s5.s5--6.15: mixed $5.S5--6.25;
heavy $5.85--6.25;. rough $685.
500; good to choice heavy, 5000
6.25; pigs. $5.00--6.0o; bulk Of sales
s6.OO--6.2O.
sheep-Receipts $4,000; weak; ma
tive $2.75--4.50; western s2.25--
AGO; yearlings S4.65--5.7O; lambs,
native $4.25--6.5O; western $4.75--
$50.