The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-12-18
STOCKS AND BONDS.
The Market Turns Strong with
Gains Scattered in the List.

Gains scattered In the List.
New York, Dec. 1.-THE undertone Of
the stock market was firmer to-day,
growing into strength as the day pro-
crossed and the closing was fairly
strong with net gains in a number of
prominent stocks. The speculation was
almost entirely professional and was
depressed in it's nature with a DISPOSE
ton to caution about encroaching on
the limited money supplies.
Amalgamated Copper maintained its
dominent influence on the market and
it's incessant fluctuations had some
sympathetic effect always, but the eff
feet was more marked on the upward
range of prices, and the gains estab-
lished in the general market were
yielded stubbornly when Amalgamated
Copper reacted. That stock touched 60k
soon after the opening, loss from yes
terday's closing and record low level
of 1ss. The raw copper market in Lon
don was reported weak and shares of
copper companies. everywhere were de-
pressed. Some violent declines were re-
ported from the Boston Stock Ex-
change. Opinion as to the next dividend
continued pessimiStfc. the most favor
able forecast of Thursdays action
naming a per cent? dividend. The re-
covery in the stock was apparently
based on the rally in the raw copper
market in London. This rally extended
further in futures, which were also
more largely traded in than spot, thus
increasing the premium on future de-
liveries of copper, which developed yes
terday for the first time in almost
three months. Amalgamated Copper
touched 64% and after numerous fuc-
tuations below that point closed at
eS1s, a net gain of rs.
The money market was very quiet,
rejecting the cautious tone of the
speculation. Sterling exchange was
called strong, but foreign bankers ex-
rress the opinion that there is no like
lihood of further gold going out before
Ian. /.
The rans-continental stocks were
prominent for strength and apparent
ly thrived on the passage of the 18TH
milan canal treaty. The argument for a
permanent injunction in a suit to re-
strain the retirement of Northern Pa
cific preferred had no effect on them
and they rose in the face of somewhat
alarming reports of rate cutting among
Western railroads, included in the COM
munity of interest which were appar-
emily intended for other than Wall
street consumption. Cuts in the price
of Petroleum, Sugar and Lead and
Linseed Oil had a depressing effect on
securities of companies in those trades
The Pressed Steel Car stocks were
heavy on reports of an opposition COM
pany to be organized. A very active
demand for the Southern Railway
stocks developed late in the afternoon
ard helped to make the closing strong.
The bond market was moderately ac-
tive and irregular Total sales par val
lie $2,630,0O0
United States coupon 3s, advanced
~, and the refunding Is "A per cent.
The IS coupon declined u per cent. on
the last call.
Total sales of stocks to-day were 531. :
300 shares, including Atchison, 1920;
Erie, $500; Louisville and Nashville.
1000; Manhattan. 22,S00 Missouri Pa
cific, 5000; New York Central, 300;
Pennsylvania, 800; Reading, 1880:
st. Louis and San Francisco, 800; ST.
Paul, $4,000; Southern Pacific, $500:
Southern Railway, 81, 400: do preferred
$500; Union Pacific, $4,000: Wabash. T.
300; Amalgamated Copper, 1872, 300:
Anaconda Mining, 5000; Brooklyn
Transit, ZOO; Sugar. $500; United
States Steel. 26,OOO United States steel
preferred, 9,10O.