The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-12-25
Dull Day N STOCKS
Aggregate Dealings Slightly
in Excess of Monday
PRICES ARE ON DECLINE
Professional Traders Have
Market in Their Hands.

New York, Dec. 2z.-Today's aggregate
dealings were slightly in excess Of those
yesterday. principally By reason Of the
continued active speculation for a fall n
sugar. The dealings in the general mar
kat were IN the hands OF professional TIA
dsrs, ard only a small part Of the days
operations originated outside the board
room. The late rally in prices. after the
steady downward tendency Of the early
part Of the day. was sufficient TO put the
professional stamp upon the days mar
ket. Even IN sugar. although there was
very large liquidation. the largest traders
on the exchange joined actively in the
selling for short account There were
sales OF 1860 70 1900 shares during the
day by individual brokers, ard some Of
the largest sellers bought 10 cover before
the close. The stock was forced down az
one time to 1031s, representing decline
OF 61s from last nights level. The de-
uand from the shorts rallied IL 70 leS4,
and the closing was at 49,, representing
a net loss Of 90. The traders offered pes
sinistic arguments OF the very large &C
emulation Of stocks, the Wiping out OF a
profitable margin IN the price and the
beet sugar. Parallels were drawn by the
copper episode 10 point 10 the inadeql1acy
Of the great industrial combinations 70
regulate and control trade in staple prod
ucts. Meantime the copper market n
London made a turn from its long down
ward course and rallied quite strongly.
AmaIgamated Copper here resisted the
general weakness Of the market and rose
al one time Is over last night. closing
r--rH p % r~.-e F.---
other stocks which made Eeadway against
the prevailing depression, notably the
Hooking Valley stocks. which rose ~ and
rs, respectively. Tor the combination and
preferred, on the reiterated rumor OF ths
projected retirement OF the preferred.
The strong movement in the general list
was based upon the expectation that there
would be a furry IN call money during the
day on account Of the requirements -
carry over the holidays Bears also
counted upon the depressing influence Of
continued weakness in sugar The earlier
rates for call money proved 70 be the
highest. and lenders who held out Tor the
high rates found themselves with funds
unplaced. The offerings OF this residue
carried the rate down below per cent in
the afternoon and was the effective fac
tor in driving the shorts to cover. The
bears. however. showed g natural incllna-
ton 10 gather in their days profit before
Christmas. The market was q reflection
of the holiday season throughout. The
closing was fairly steady a the Eally and
with the early losses most reduced 70
fraction. except in St. Paul and Union Pa
cific. which We're under conspicuous pres
sure all day on account OF the uneasiness
caused by the onslaught upon Union Pa
ciic interests IN the public statement By
President Hill Of the Great Northern
Lake Erie and Western dropped 81 and
the preferred 4 on single sales
The bond market was dun and irregular.
Total sales. par value. N.s20Qo
United States Is declined T.. but all
other issues advanced 3 on the closing
call