The age-herald., 1901-12-03
STOCK MARKET IS SOMEWHAT WEAKER Last Prices of the Day Show
 Net Losses FURRY IN MONEY MARKET Upward Movement In Louisville and Nashville, Southern Railway Pre-
 ferred, Southern Pacific and
 Sugar Bond Market Active.
FURRY IN MONEY MARKET

New York. December 2.-wealkness de- veloped in the stock market today after some early exhibition of strength, and the last prices for the day show consid- erable net losses and all of the earlier gains wiped out. The principal factor Tn the early strength was the recovery in Amalgamated Copper, and the decided re- bound In the price of new copper in Lon don. The reaction was based on the ex- ports of gold and the apprehensions that the Presidents message, to be sent to Congress tomorrow, would take strong grounds against great combinations of corporations, with unfavorabIe effect on the market values of their shares.
 A furry developed in the call money market, which later in the day accentuat- ed-the weakness in the closing dealings in stocks. Professional bear operators were active in the decline and followed vigor- ous manipulative tactics, but they met with little resistence to their efforts in the way of supporting orders and the market was left apparently unprotected. The resultant uncovering of stop-loss or ders dislodged some large amounts of stocks, especially among the induStrials the trans-continental railways and the Vanderbilts, which have been lifted on persistent reports of deals and merges.
 The violence of the recovery In raw copper in London pointed to the con clusion that Saturdays demoralized break was due to speculative short selling or that later information was changed from that which prompted the selling. The recovery in Amalgamated Copper reached to 763s, but the stock slumped again to 72%, helping to upset the market. Louis vile and Nashville, Southern Railway preferred Southern Pacific and Sugar were prompt features of the upward movement and Long Island became strong and active at an advance of "A. The an- nouncement of gold exports to the amount of $2,0O0000 was the turning point of the market, although consider able resistence was offered to the decline after the announcement was made. The outward movem ent of gold has been gen orally expected and spectators for the advance tried to belittle importance. Their efforts were partly successful until the party of reaction was reinforced by the anxiety over the effect of the Presi- dents message and congressional action on the subject of combinations and the furry in call money. The earlier ease of the money market and the lateness of the hour at which the rise in rates oc- cured gave rise to the supposition that 1t might be partly due to manipulation. There was a large disbursement of divi- dends and interest during the day, but the effect of such disbursements Is likely to be somewhat belated in the New York money market. There was a drop in New York exchange at Chicago to 40c discount which Pindicated some renewed fears on the part of moffey exchangers.
 The bond market was moderately &C., tive and irregular. Total sales, par value, s2.23O ,O0O. iS2
 United States refunding 2's advanced A per cent. on the last call.
 New York Stock Market.
 By Private Wire to Murphy & Ca