The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-12-25
STOCKS AND BONDS.


New York, Dec 24.-Today's aggregate
dealings were slightly in excess of those
of yesterday, principally by reason OF the
continued active speculation for tall
in Sugar The dealings in the general
market were in the hands Of profession
al traders and only small part OF The
days operations originated outside the
board room. The late recovery in prices
after the steady downward tendency OF
the early part of the day was sufficient
to put the professional stamp upon the
DAYS market Even in Sugar, although
there was obviously very large liquida-
ton, the largest traders the exchange
Joined actively in the selling for short
account There were sales of 1000 to
10000 shares during the day by individ-
ual brokers and some of the largest
sellers bought to cover before the close
The stock was forced down OF one time
to 103B, representing decline OF 6B
from last nights level. The demand
from the shorts rallied it to 106M, and
the closing was at 1851, representing
net loss of 3% The traders offered pes
simistic arguments on the very large &C
emulation of stocks, the wiping out OF
a profitable margin in the price and the
threatening increase in the production or
beet sugar. Parallels were drawn with
the Copper episode to point to the made
quacy of the great industrial combinations
to regulate and control trade in staple
products. Meantime, the Cope" mark
ct in London made a turn from It's long
downward course and rallied quite
strongly. Amalgamated Copper here re-
sisted the general weakness of the mark
ct and rose at one time LIZ over last
night, closing with a net gain OF q.
There were a few other stocks, which
made Roadway against the prevailing de-
preston, notably the Hooking Valley
stocks, which rose lie and 2B respective
ly for the common and preferred on the
reiterated rumor of the projected re-
tirement of the preferred, The selling
movement in the general list was based
upon the expectation that there would be
furry in call money during the day on
account of the requirements to carry
over the holiday. The bears also count
ed upon the depressing influence of con-
tinued weakness in Sugar. The earlier
rates for call money proved TO be the
highest, and lenders who held out for
the high rates found themselves with
funds unplaced. The offerings of this
residue carried the rate down below six
per cent in, the afternoon and was the
effective factor in driving the shorts to
cover. The bears, however, showed a
natural inclination to gather in their
lays profit before Christmas. The mark
1t was a reflection of the holiday sea-
son throughout. The closing was fairly
steady at the rally, and with the earlier
losses mostly reduced to fraction ex-
,ept in st. Paul and Union Pacific, which
we're under conspicuous pressure all day,
IN account of the uneasiness caused by
he onslaught upon Union Pacific inter
SITS in the public statement by Presi-
lent Hill of the Great Northern. Lake
Erie and Western dropped 3A and the
preferred four points on single sales.
The bond market was dull and irregu-
lar. Total sales fpar value) $500, 900
United States SIS declined Il but all
other issues advanced n on the closing
eall
The total sales of the day were sac, 500
shares. including the following Atchi-
son preferred. $4,000; Erie 10 600; Erie,
1rst preferred, $500; Louisville and
Nashville 5,400 Manhattan 800; Mis-
ouri Pacific 9,700; Pennsylvania 500;
Reading $4,000; Reading second prefer
ed $500; ST. Paul 43,S0O; Southern Pa
life 11,200; Southern Railway $500; I'm
on Pacific $4,000; Amalgamated Copper
25100; American Smelling and Refining
$500; Brooklyn Rapid Transit $500;
Sugar 227 400; United States Steel q, 200:
United States Steel preferred $500.