Show HEAVY SElL ENCOUNTERED Bank Statement Favorably inter interpreted Interpreted Interpreted by Brokers 4 FIRM CLOSING AT ADVANCE v 4 VA AD GB N mOX o 0 OP New York Dee Dec 14 Operators in Ja the tk stock market placed a favorable pi Pt elation upon today bank statement nd id bought stocks briskly Jy after atter It Iti f i Prace At As prices use nwe over lent last night L level eeL heavy elling to was encountered which carried prices back from the best belL The offering di 31 diminished l at the decline and the den clos log Ing In wen was firm at a level generally V above that of ot last but night Pre Previous PreVious Previous to the bank statement the mar ket was wae dull and hesitating and gov goy governed governed largely by the in Amalgamated Copper That stock opened ope ed with sales alel ot of 2 2 shares Itt zt t si to 6 compared with 6 66 at last nights close It declined to 84 4 breaking the low record and ad checking the advancing tendency In III other stocks The last price was 15 6 5 a et loss tom of a point from last night The stock went lover tover than last Satur Saturday Saturday Saturday day compared with a high price early ery in the th ne ek k of more t ll 10 points over last Saturdays lo lov v level The sentiment regarding the stock was wa much confused C and d brokers bri kers usually with ati ig 19 for insiders both bothi i bought ana sold old the stock The he decline 1 in cash reserve res of the banks was Wall about less leen than was expected The liquidation in the speculative markets j i was reflected in the loan contraction of f I which reduced tin h I Im II ment m nt on n the surplus to The I transfer tran fer of funds to New Ne He Orleans through thc th sut was contin continued continued continued today and foreign exchange here hardened hut but money was vas easier In London I The contraction of ot the yearly supply has been the tte dominating influence in inthe inthe inthe I the stock mar et during the whole of the week w k as was waa clearly foreshadowed 1 in last Saturdays bank statement I With surplus reserves erve re of nt n the banks down to below and large lar re requirements for tor credits incident to the eason definitely known the problem was one of If very simple arithmetic I Loais oais placed on call with easily mar marketable j collateral and especially espe such as DB was used for tor the speculative holding I of If f stocks on n margin are always the first to be called in when money re requirements are to be met for other pur purpose pose The action of ot the money ia ket has baa also alio suggested rather clearly that some Ome of ot the solid BoUd financial powers have acquiesced In a downward course courset if t f prices for the time as offering a more substantial vantage grund ground from which to face the exigencies of the an annual annual nual float settlements In addition there nave have been demands to meet which were not counted upon Such has been the foreign demand I for gold in spice of ot the decline of ex hange bange lates tates to below the tile at a which gold exports are profitable as a exchange operation op ratton The gold IrOld M which has hap gone gont out la is believed to have ave been purchased at what was Wall as in effect elect electa a premium by foreign banking lust institutions I which are desirous to make malte a favorable showing of f bullion reserves I t for their annual reports The active speculation in grains and cotton has hu also made continuous demands demada da poo Yew New York for ash sh which w was s ht counted upon at this season se df dt the th thear ear The smaller expenditures of the theo o eminent as s compared with last year t ar ha hu expanded the current surplus ph and made larger demands upon the New ew York Y rk money market through the operations The decision ton tonof of the treasury Jo pay the January Jau in interest Interest n terest in i Is 18 designed de as aa a re relief reHe let lief from the drain but the payments will not rot be made available aY until next year The money mone market hai ha been ac active active tive the ind stringent during the week and was a good deal of ot liquida liquidation tion but liquidation of speculative ac a accounts aci counts Lounta i forced forcel by calling of loans Amalgamated Copper though very ery erratic during the week was WU very vary r nea neaily ily dealt in has bas been less of a disturbing dis Ua element than let last week its I oc occasional occasional rallies ral le exercising a sustaining influence on stocks at times Railroad bonds b have haTe been quite ac active tive and irregular While the outlook is for tor well sustained money rates until C the end of the year Tear and a repression o 0 speculative e buying the prosperous condition conditi n of general ce end trade fade in all lines keeps kt epa the undertone of speculation con confident United States s old and new 48 and ancl the Ute as advanced per cent over the de do doc c Ing lag call of last week weeL Bond flond Quotations L S ref 2 Erie gen 41 reg regI HB liB Hock Hoek Vat ai 4 I u S ret ref U L L N Usi UBI M II coup H Hr Mex Cent r 1 S Sa 35 r rr 1 Me Mes C 1st l e eM r 1 S a Is coup N M A It St L 1 T t S new ne Is rel M K A T 4 3 T S new 48 L JL F l T coup Coup i 11 4 1 S N Y Q 1st r L i S oM old 45 8 ngU ngUU M T T Y 2 C ge geN gen U 1 S old 48 Df 9 N IN I J S C gen k kC fc C r 1 M S is 58 reg IN N P Ii J JN T 1 t S te ill 5 coup 1074 4 N I 1 38 TOi mi TOiK 72 Atch Uch gen g IN K W con COD Atch 48 93 Reading gen Wi WiB tt B A O 0 to 1024 St L A Acon L LB B O 0 She I 96 con ie Is 11 B D I 6 O 0 coo COG i St L A sr S J 7 Car Can 8 L tads 1 4 98 18 i iC C of ot G t t L S t let lat M MC C of nf f G O 1st inc 75 5 5 St I L Sweet C C O 0 i mi miJ i J A A s 86 is r S 8 AS A ALp ALpO A A P O B A Q new I Is It Its 11 45 s 97 8 S P 4 f M X St P So Rail to is 48 Ill T A P 1st 1 N con T St L Ai W WC W t C R L P 48 4 II 48 I IC Union Pac Pc l lC C C C St JU L U P con 1 gen 41 1011 l Wab lets n fl Til 1111 Term Tm Terms 5 4 Wab teds Colo do A s S 45 I Wab Web deb B BW BD BD D B R G I m mJ W Shore Snore 4 Erie En s or pr r lien Hen 4 IW W I L E Is J P lp W v k D C WI Cent is 5 1st let Con Tob q Stock Quotations Atchison 76 74 So Pacific Preferred 5 So Railway Bal Ba I Ohio Preferred tI Preferred d 94 I Tex Ai Pac PacT tJ tJan Tan an Pacific 11 T St L 1 A W W Can an Southern Preferred SS g Ches C s II Ohio 41 45 Union Pacific Chi hi I Alto 33 I Preferred Preferred 75 Wabash 2514 Chi Ind md j 47 Preferred 78 71 W i L E a 11 1 M hi E EL 1 Is Second pfd 0 Chi CM Ii O 0 OA Wis Central P H HS A preferred S 8 Preferred 40 B preferred d 44 i i Adams Ex FIx DO Chi hi A Nwe t tr American Ex US r R B I L P United States Stat at Chi T T 15 HO Preferred Amal Copper OB C C I St L Jf Am C A FT F 13 I Preferred First nt pfd M SI Ani Am Linseed OU on 17 Second pfd S 5 Prefer red II 41 1 A h Hudson Am Air S A R Rl 44 a l L j W Preferred IM PAR r II a R it G t 43 41 Anac M Co CoB 1014 Preferred 51 B R T TF TErie i 1 Erie F F I Sf 44 t First pfd pM 71 iCon Con Gas 1 Second pfd n Electric Great reat J pfd pM IB Hocking Val king Coal 15 Prefer d so Paper 10 Tl TIle C lal al IT 1 ii Preferred 16 15 Iowa Central y Int Pow Poa r 81 51 I Preferred 70 7 Laclede Gu Gas 90 Lake Ake E W l fi Nat Biscuit Bl a 42 Preferred 12 22 Nat N at Lead 1 Louis Loul Sr r Nah hH W Nat NaL at Salt p pfd pd 4 Si 51 L t 13 N American 52 itt St S R 1 Pacific r iet Ry i Coast I 77 Me Ke Mec t Centra 24 21 Mall Mail 17 j e r w v L Pepie 1 s Ii Ga GaS 5 I If l f ft 51 St t I Pressed S Cir Car 38 I Mo 10 Pacific 1021 Preferred 81 31 t K T 25 Pullman P 6 Z J lt Steel 15 N J Central Preferred Pl ed gj I N Y Central t 1 Sugar r Nor qi A ew W rC C I l Preferred r fi f eJ 13 J P Co C CJ CoN Jf N p V pM j WI J JAW tio AW Q W So S Le Loather tAe PJ t ed RI ng 74 US 6 Rubber r 31 13 t pfd 7 Preferred IS second i tt 51 U S Steel Ste IL 45 t L i a 6 S F l Preferred Ills 15 First pfd 79 Western Union 51 8 pfd 70 Am Loco I St L Swe P WL Preferred Preferred iI I It St t Paul Total I Preferred r |