The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-12-22
STOCK MARKET STEADIER.
MONEY is SATISFACTORY.
Recent Cut in the Price of Sugar Has
Caused Active Liquidation
in that Stock.

new york, December 2i.-Amalgamnted
'opp% showed the same stable tendency
between W and 81 which developed vester-
usy and the relief afforded the general
market by this turn OF affairs continued
In evidence. The bank statement gnve owl.
dence Of satisfactory conditions In tho
money market and also prompted some buy
ing OF stocks, but the sympathetic strength
in the general market was taken advantage
OF and an active liquidation In sugar, which
forced that stock 3A points under last night
and unsettled the market and made the
closing easy. Net results are not general.
~ important and changes run both ways.
The recent cut in the price of sugar leaves
narrow margin for prodt on its production
and fears are entertained for renewal
OF tne sugar ana coffee war
. ne bank statement showed much larger
ISecihes OF cash reserves than anticipated,
the loss running to S4,435, 200. hut the DO
cline IN deposits by reason of loan rontTo cts
OF Sl8,S6S,50o was sufficient to reduce tho
reserve requirements by an amount greater
than the decrease in cash leaving n yain
FOR the surplus of $3.50, 300
Inc strength OF the day was most marked
IN the local fractions and in the coalers
pom sott and anthracite. Hooking Valley
added rs to yesterdays point rise and the
preferred gained H. There was renort
OF the pending acquisition of another rail.
ROAD ana a rnnor of the proposed retire
ment OF the preferred stock.
The enormous speculation In Amalga-
mated Copper was an unsettlng influence
on the general market during the whole
week. Dealings In that one stock consti
tuted from one.quarter to one-half OF Tho
aggregate dealings on each day of the week
and Its incessant and violent fluctuations
bahled the insight of the most sklllful one
rators The successive cuts In the price OF
raw copper, while doubtless Of vital Import
TO the ultimate value Of the stock. seemed
10 have soothing effect upon the stock
while adding TO the unsettiement in The
general market. Late in the week the diyi.
uend action Oh the stock oYershadowed all
other considerations. The / per cent dee
iarhtion had been pretty accurately expect
ed, 10 spite of the food OF rumors con
sthntly set ahoat by the professional trad
ers for manlpulatiye purposes The Of
ncial statement by the directors OF the
Amaigamated company after the dividend
declaration threw very little light on the
situation beyond that indicated by the
previous course OF events, but Ii had the
advantage OF formulated authorized infor-
nation against wild rnmors which had pre-
vailed for a long time previously. The
statement Is accepted as a proclamation
that the Independent producers having de-
cnned 10 maintain prices, the Amalgamated
company Is prepared 10 make such prices
ms are necessary TO secure a market for
the product Of its companies Such action
Is regarded as promising favorable results
In general business and more healthy ana
natural conditions In the copper trade IT,
self
The price adjustment in the copper mar
net has had q parallel In that Of ether