The age-herald., 1901-12-27
STOCKS FAIRLY
 BUOYANT AT CLOSE Bears Buy in Order to Cover
 Short Contracts SUGAR WAS THE LEADER There Were Some Relapses In the More Volatile Stocks, But the
 Close Was Strong, Active
 and Near the Top.

New York, December 2G.-Tho bears in the stock market beat a precipitate re- tr sat in the later hours of the days ses- sion at the Stock Exchange and their eager rush to buy in order to cover short contracts developed fairly buoyant condition before the close. There was some relapses in the more volatile stocks, but the closing gen nerally was strong and active and near the top level. The vol tune of dealings showed a material in- crease oyer that prevailing for the last few days. The bears were inclined to continue their campaign when the mar ket opened this morning and they ef- fected a numerous-of serious inroads upon prices. But they soon became aware that their offerings were being absorbed in a volume and confidence which sounded a warning. Sugar con- tinued to be the leader of the market but by no means In so overwhelming proportion as of late. The vigorous sup port accorded this stock and the suc- cess achieved in driving the bears to cover In 1t were important factors in turning the general market upward and in swelling the demand for other stocks to an extent which lessened sugars pro portion of dealings in the market. The bears in the stock showed growing evil dence of acute distress and of having over extended their accounts apparently fin the confidence that the recent exper- fence in copper was to be repeated in sugar Rumors got abroad that nego- in matching up a truce in the trade war. There was a growing suspicion that while both crude and refined sugar are selling at very low prices, the margin between crude and refined is still sufficient to af- ford a profit upoa the industry of refin- ing, Whatever may be the grounds for todays rumors, the shorts were thrown into a fright, and rushed the price up from ths low point at 1039s to 1331h. The stock closed at 112A, net gain of 6A.
 Ama.gam ated copper, sharing in the heaviness of the early market also de- veloped a very strong tone, adding to the sentimental effect of the rebound in sugar. The price rose to 69lk and closed only a shade lower at a net gain of 2ss. The quieter tone of the London copper market reports of some large takings by manufacturers. the strength of Rio tintos in Paris, reports that an agreement be- twesa coppar producers was imminent, under the pressure of the fall in price, all helped tn. advance in Amalgamated. The a1trtty in the stocks of electric man. ufacturing companies may have been connected, with the developments in the copper trade. Westinghouse electric was at one time tip F points and closed with a net gain of A. The majority of rail- roads reporting today gross earnings of the third week in Decem Der show de- creased compared with last year, and this was an influence in the early de- cline, especially in St. Paul. That sys- tenn, Louisville and a number of import ant southern systems, reported decreased earnings The showing was ignored ap- parently becaxA> of tn. very high level of earnings in the third week of last De- cember which were some B per cent over the preceding and were notably heavier in the Southwest region. The Pacifics and grangers became very strong in the day. The hard and soft coal car riers were active and strong all day gains in some of the leaders reaching between ? and points and in Hooking Valley points.
 Money seemed to be in abundant sup ply and confidence that 1t would con tinue so added to the strength of the market. There was reported from Wash. ington a purchase of $2,50OO0 900 of gov ernment bonds from a New York firm for delivery before January l. IL is ex- pected that there will be a quick and very large return of cash from the chan nels of enormous holiday trade
 The bond market was moderately active and firm. Total sales par value $2, 44O,O0O
 United States 5s advanced A percent. at the last call.