New-York tribune., 1901-12-28
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The stock market enjoyed further increase
In operations and further expansion in prices.
There was a good demand throughout the day
from commission houses, while number Of the
more important speculative interests were active
buyers Of securities. It is estimated that west
ern houses took upward Of 100000 shares In
the course of the day. Boston houses were also
active buyers. especially in Amalgamated Cop
per, which Of the leading features OF
the market Dealings in this stock and In Amer
scan Sugar Refining supplied nearly one-third
OF the total operations in all issues. Sugar Re
filming stock recorded a maximum advance of
about. points and a net gain Of over 3 points.
The upward movement in this security was
based in great part on an advance of 10 points
In the price of all grades Of refined sugars, the
advance. in prices following the very recent de-
cline in sugar quotations naturally inducing
the belief that the sO-called sugar trade war
was at end. The movement OF sugar stock
In the last week and the rapid fluctuations in
quotations in the sugar trade have created an
impression that the same old sugar market
manipulators have been actively at work. The
reputation Of sugar stock and OF the crowd be-
hind the speculation in this issue leaves little
cause for doubt regarding the nature OF the
current movement in sugar certificates on the
Stock Exchange
The advance inrAmalgamated Copper was also
based on the idea that copper stock speculators
were convinced that the copper market is now
in a position to encourage an upward movement
In Amalgamated Copper shares. This stock
closed over points above Thursdays last quo
tation- The general market moved in the di
rection of higher prices until the close, reac-
tions in the day being unimportant. There was
a good demand for Union Pacific the anthracite
coal shares. Missouri Pacific. Manhattan Ele-
Wabash stocks and bonds has been compara-
lively heavy in the last ten days. and it is gen.
orally believed that the movement in these
securities foreshadows important developments
affecting the property It was reported yes
terday that the debenture bonds might be
tired Buying of the railway stocks for COM
i mission house accountvwas helped by the cheer
fui reports regarding the money market out
' look and the general, condition of the cOuntrys
business.
While there was an easier feeling the
money market, all rates advanced at one time
in the day to 8 per cent although most Of the
loans We're made at 6 per cent. Preparations
for the enormous January interest and dividend
disbursements have about been completed, and
there appears little probability of a permanent
higher level for money rates. According to the
known movement of money in the week the
banks have lost only small amount in cash
holdings, owing to a marked increase in the
movement OF currency from the interior. If it
had not been for heavy loss on Sub-Treasury
operations, there would have been net gain
amounting to upward of S2000,000. The bank
statement to-day WILL Of course be affected by
the shifting of accounts incident TO the end of
the year, and possibly by the increased demand
for money in connection with the heavier opera
Tions in the stock market. The movement of
money in January should be heavily in favor Of
New-York. Rates may be maintained at a firm
level in the first half of the month. but the
chances are that there will be enough money
at this centre for stock market purposes. By
the end of the month bank reserves should be
back again at comfortable figures.