The times. [volume] (Richmond, Va.) 1890-1903, 1901-12-25
LOSSES REDUCED
TO A FRACTION
Dealings in General Market Were
Professional.
EoNDs DULL AND IRREGULAR
E:r,y Rates for Call Money We're Highest.
ard The Rate Was Forced to
Ec!cw Six Per
Cent.
Dealings in General Market Were
EoyDs DULL AND IRREGULAR
1nr Associated lress.i

NEW YORK, Dec. 24.-To-day's aSgTe-
gate dealings were slightly in excess OF
those yesterday. principally by reason OF
lba continued active speculation for 4
1al: in Sugar.
The dealings in the general market were
an the hands of professional traders, ana
only a small part of the Gays operations
originated outside the board room. Inc
late recovery in prices after The STEADY
downward tendency OF the early part o.
the day was sufficient TO put ne ifoies-
s!onal stamp upon Tie Gay MAJ NJ 3
l.Sen in Sugar. although there was Cd
,iorslv very large ltquda ton. the largest
1radcrs on the exchange lolntd aclFeiy
IN the selling for short account, Ihere
were sales OF ] 900 to 1900 shares duri1S
the day by individual BROKERS. and some
OF the largest sellers bought to cover be-
1orc the close. The STOCK was forced
down at one time to lG38, representing
a decline of GIS from last nights level
Ihe demand from the shorts rallied il TO
lpiA, and the closing was at l05l2, rep
Jesenting net loss of 334- The traders
offered pessimisic arguments of the very
large accumulation OF stocks, the wlpinS
gu; of a profitable margin in the price
snd the threatening increase in the pro-
Guction Of beet sugar. Parallels were
drawn with the Copper episode TO point
10 the inadcquacy OF the great industrial
combinations TO regulate ana control
trade in staple products. Meantime me
copper stocks in London made a turn
from its long downward course ana rallied
quite strongly. Ama!gamated here re.
sisted tho weakness of the market ana
rose at one time tx over last night. clos
ing with net gain of y. There were a
few other stocks which made headwaN
against TIE prevailing depression. notably
the Hooking Valley stocks. which rose
u. ana 1h. respectively, for the common
pnG preferred on the reiterated r1lmor Of
fhs pro i2cted retirement Of the preferred.
Ib.A,
WAS based upon the expectation that there
would be q furry in call mCncT during
the day on account of the requirements
Z, carry over the holiday. The bears also
counted upon the depressing influence of
continued weakness in Sugar. The earlier
rates for call money proved tn he the
highest and lenders who held o,it. for the
filgh rates found themselves with funGs
unplaceu. The offerings Of this residue
carried the rate down below 6 per cent.
81 the afternoon and was the effective
factor in driving the shorts 10 cover The
ears, however. showed natural inclina-
sion 10 gather in thair DAYS profit before
CHRISTMAS. The market was "A reflection
of the holiday season throughout. The
closing WIS fairly steady at The rally and
with The earlier Losses mostly reduced to
s. fraction cXccpt In 81. aui and Onion
1Hscific which were. ilnGst' consnicuouS
pressure al day. on account of the I'M
sasinesa cauESd by the onslaught upon
Union Pacific interests in the public state
:lert nv President iili. OF the Great
ortilern Lake Ere ard Western dropped
"a and The preferred ! on single sales.
The ho-d market was duh and irregu-
lar Total sales parvalue 81. 1920. 600,
United Statnc IS declined i Per cent,
hui all other issues advanced * per cent.
on The be t eaGa'R ssl5 t6c2ss for the day
were Gi6,loo shares.
MONEY AND EXcIIANGE-AIo on