The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-12-21
STOCKS AND BONDS.

New York Dec. 2O-The stock market
showed its immense relief today from the
disturbing effect of the recent eccentrici;y
of Amalgamated Copper. There were some
further contortions in that stock for IL
short time after the opening but it set
tied down into condition of quiet, which
has not been seen for many weeks. Be-
tween Sc and 81 it seemed to have arriv-
ed at a condition of stable equilibrium.
The opening dip to 64ls was apparently
due to q drive from the bears who sought
an opportunity to cover their short con-
tracts. The high level of tile stock for
the day was at 6S and the net gain was
a point. The statement issued by the
directors last night was accepted as a
proclamation of struggle for business
with the independent companies and such
cut in the price of the product as would
be necessary. The solution of part Of
the mystery which has hung over this
stock let loose the forces of demand
which have lain dormant in the market
for several days past The buying was
apparently based on the general consd
Grafton of the high degree of prosperity
which is prevailing in all branches of
trade.
Lie SpeCldl SITeHSlH VI Iue OOdleES,
which led the advance was due to the
seasonable weather for the trade and to
reports of possible coming advance. in
the price of Anthracite. The formation OF
the arbitration committee by the National
Civic Federation was a factor in the
strength of this group, as the president
of the Miners Organization has a promi-
nent place on the committee and the fear
of an outbreak of labor truble among
the miners during the coming year has
Teen a persistent influence in dlscour-
aging speculation in the stocks. The adj
vances ran from about point up to ~.
in Delaware and Hudson and three in
Hooking Valley. The strength of the Pa
cifics and Trans Continentals was appar-
entity based on the favorable showing
which it is expected the Union Pacinc
annual report will make. The bull CAM
paign in the local traction stocks was
renewed under the leadership of Mammal
tan. The sharp gains in number of in
dUstrials were based on individual consid-
erations. The rate for call loans stiff
fened late in the day TO per cent but
had very little effect on the stock market
Although the banks have apparently lost
nearly $2,000000 in cash during the week
sentiment is for the moment optimistic
over the money outlook. The payment
today OF the dividend on United States
Steel, common amounting to over S. ,00o,
600 is expected 20 favorably affect the
money market. The bond market was
moderately active and irregular. Total
sales (par value) 1880 600.
The United States SIS, registered. ard
the old and new As advanced Is and the
2's, coupons, declined a per cent on The
last call.
Total sales Of stocks today were ESQ.,
800 shares, including Atcnison 5000;
Atchison preferred 1850: B. ard o., 300;
Erie IL, 200; Erie fire preferred, $500, L.
and n, 500; Manhattan IL, 500: Missouri
Pacific 22,300; New York Central $500; 0.
and W.. 12,700; Pennsylvania 10000; Read
ing $500; Reading second preferred Is
700: St Paul A 500; Southern Pacific 81,
coo; Southern Railway 1900: Union. Ca
100; Wabash preferred 5000: Copper 1o3,-
700: B. r. T., $4,000: Sugar 20 100; Steel
$1,000; Steel preferred 15,S0o; Locomotive
3 700