The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-12-17
STOCKS AND BONDS.

New York, Dec 1e.-There was no re-
newaI OF consequence of the pressure Of
liquidation in the stock market today.
but there was manifest hesitation about
undertaking any operations for an ad-
vance. A handful OF stocks were ad-
vanced by professional operations in a
seeming attempt TO induce a following
and to influence the general market. The
evidently easier condition of the money
market encouraged this movement, but
the fear Of a recurrence Of stringency
and the unsettling influence OF the re-
newed weakness in Amalgamated Copper
discouraged it's extension. Amalgamated
Copper started downwards from the
opening. but recovered momentarily to
Is above last weeks close. 1t gravitated
for the rest of the day. with slight rallies
TO the low point of 6l3s, where il closed.
The fluctuations in the stock were not
violent and traders described its action
as a fall OF its own weight, without any
apparent artificial pressure. The net loss
is S5s. It is taken for granted that the
renewed decline fOreshadOws a reduction
in the dividend on Thursday. as the dis
bursement Of dividends by a subsidiary
company is tied up by Injunction. The
rate Of dividend is expected by specu-
latOrs at all the way from l per cent
quarterly down 10 passing il entirely.
Fears are professed also that the cut IN
the selling price of raw copper made last
week is a preliminary to further cuts and
10 war OF rates. 1T was worthy of re-
mark that in London the price Of futures
closed higher than for spot for the first
time since the first week in October. The
prospect OF the unSettling influence Of
mystery and uncertainty over the Anal
gemated dividend rate until it's actual
declaration was sufficient in itself TO dis
courage activity IN the general market.
The strength OF the Saturday bank state
ment is due entirely to the speculative
liquidation which took place last week.
To expand again Immediately the loan
account OF the banks would threaten. it
is feared. a recurrence OF stringent
money. RumOrS OF dangers narrowly
aVerted last week helped to prevent i'm
prudence. Last weeks loan contraction
was well distributed among the banks,
showing clearly that no large s indicate
transactions was accountable for il. The
condition of the world 8 money markets.,
however, was easier all round TODAY
Discounts were lower in London and
sterling exchange both at Paris and Ber-
lin 1ell back sharply Foreign exchange
here did not rise appreciably. in spite of
the greater abundance OF funds in the
money market It was considered encOur-
aging also that no deposits We're made ar
the SubtreaSury today IOr transfer TO the
interior. checks for government interest
Ia anticipation OF the January payments
began TO come to the subtreasury today
and the day payment OF the 100000
Standard OIL dividend was an influence
towards greater ease OF money. The only
stocks whose strength was conspicuous
were New York Central. Manhattan, St
Louis and san Francisco. Long Island.
the Iowa Central. Rubber Goods preferred
curtailed in sympathy with the late weak
ness ia AInalgamated Copper Net
changes generally are narrow. The bond
market WAS dun and Irregular. Total
refuncing = advanced i and the IS c0u-
pom Z per cent on the last call.