The daily morning journal and courier., 1901-12-24
g,,ra,trtal
THE STOCK MARKET.
Takes on Tone of Holiday Dullness-
 Copper Drops Slightly.

New York, Dec. 23.-To-day's stock
 market took Oil the tone of holiday 1 dullness and the volume of dealings / fell away to little over half a million shares, of which large proportion was | in Sugar. The fluctuations in the gen.
 eral market were not of great import
 ance outside of Sugar. There was a disposition to advance railroad stocks in the early dealings, especially the ! coalers, but the steady liquidation in Sugar had an unsettling influence on the market and the stiffness of the call loan market discouraged speculation. | The banks generally marked up their standing call loans to, 8 per cent, and the greater part of the days loans were | made at that rate. The incentive to business in call loan rate below per cent, while brokers charge their cus- toners per cent. to carry stocks, was therefore lacking and commission houses show a languid interest in the
 
 market.
 The deep cut of 25 points made by the American Sugar Refining company in the price of refined sugar, thus un- derbidding their principal competitor, caused discussion of the probability of a resumption of war in the trade. But much attention was also given to asser- tions of the threat of competition grow ing out of the great increase in produc- tion of beet sugar and the very low price at which that product is selling in Europe. Only twice during the day did Sugar rally as much as a point to in- terrupt it's persistent downward course. The final price was the lowest and 6ss below Saturdays closing The previous low record for this year was broken at 112% To-day's final, price was 109A.
 fAmalgamated Copper maintained it's more stable tone, fluctuating over less than a point, but always below Satur- days level. The stocks net loss is %. There was some continued disorder in the metal markets in London, which was reflected in three-point decline in National Lead preferred here, the com mon stock also losing point.
 The firmness in the coalers was due to the urgent character of the demand for coal, which is reported to amount to a famine at some points, thus maintain ing the prosperity of the year of larg- est production and greatest profits in the coal trade. Pittsburg, Cincinnati, Chicago and St. Louis rose 3 and the preferred 2ss. New York Air Brake broke 15 on the report of judicial de- cision afainst one of the company's pa tents, but recovered a large part of the | loss.
 The probability that money rates will | not relax until some time after Janu- | ary repressed speculation. The un- holiday trade is making | large local demand for cash, and 1t is that the trust companies are drawing down their deposits with the banks somewhat for their year-end re- luirements. There .iwas deposited at | he sub-treasury s350O0 to-day for transfer to New Orleans. Many predic- ions continue to circulate of January 'ise in prices after money becomes easi- 1T. There is quite an urgent demand Or stock exchange seats, which result I'd in a sale on Saturday for s75,000, which was a new record, while the bid vas raised to-day to $T7,50O, with $S0,O00 he asked price. fE
 Bonds were but moderately active to- lay and irregular. Total sales, par val le. $2 705 OOo.
 United States threes registered and he new fours declined B on the last all.