The Savannah morning news., 1901-12-25
STOCKS AND BONDS.

New York, Dec. 24.-To-day'S aggre-
gate dealings were slightly in excess
of those yesterday, especially by rea-
son of the continued active speculation
for fall in sugar. The dealings in
the general market were in the hands
of professional traders and only a
small part of the days operations orig
mated 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 day S
market. Even in Sugar, although there
was obviously very large liquidation,
the largest traders on the exchange
actively in the selling for short ac-
count. There were sales of 1000 to 10,
900 shares during the day by indi-
vidual brokers, and some of the largest
sellers bought to cover before the close,
The stock was forced down at one time
to 1885, representing a decline of 61s
from last nights level. The demand
from the shorts rallied ii to 106% and
the closing was at 1854, representing
a net loss of 81. The traders offered
pessimistic arguments of the very
large accumulation of stocks, the
wiping out of a profitable margin In
the price and the threatening increase
in the production of beet sugar.
Parallels were drawn with the copper
episode to point to the inadequacy of
the great industrial combinations to
regulate and control trade in staple
products. Meantime the copper mar
ket in London made a turn from its
long downward course and rallied
quite strongly Amalgamated Copper
here resisted the general weakness of
the market and rose at one time IA
over last night, closing with a net
gain of B. There were a few other
stocks which made Roadway against
the prevailing depression. notably
Hooking Valley stocks which rose IL
and 2b respectively for the common
and preferred on the reiterated rumor
of the projected retirement of the pre-
ferred.
The selling 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 to carry over the
holiday The bears also counted upon
the depressing influence of continued
weakness in Sugar. The earlier rates
for call money proved to be the highest,
and lenders who held out for the high
placed. The offerings of this residue
carried the rate below per cent IN
the afternoon and was the effective
factor in forcing the shorts to cover.
The bears, however, showed a natural
inclination to gather in their days
profit before Christmas. The market
was a reflection of the holiday season
throughout. The closing was fairly
steady at the rally with the earlier
losses mostly reduced to fraction,
except in st. Paul and Union Pacific,
which were under conspicuous pressure
all day, on account of the uneasiness
caused by the onslaught upon Union
Pacific interests in the public state
ment by President Hill of the Great
Northern, Lake Erie and Western lost
az and the preferred 4 on single sales.
The bond market was dull and irreg-
ular. Total sales par value 81, 920, 900.
United States bonds. SIS declined II
but all other issues advanced II on the
closing call.
Total sales for the day were e4s, 500
shares, including Atchison, II 900; At
Gibson preferred, $500: Erie, $500;
Erie first preferred. $500; Louisville
and Nashville. 5.400; Manhattan, 49,
500; Missouri Pacific, 300; Pennsylva-
mia, 5.1OO; Reading, $4,000: Reading
second preferred. $500; st. Paul, 1880:
Southern Pacific, 11,200: Southern
Railway, $500; Union Pacific, $4,000;
Amalgamated Copper. 25.100; Smelling,
$500; Brooklyn Transit, $500; Sugar,
227, 400; United States Steel, 2s,20O;
United States Steel preferred, 800.
New York stock and Bond List.