The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-12-17
MAY NOT BE OF LONG DURATION.
NO RENEWAL OF LIQUIDATION.
Net Changes in Prices Of Stocks on New
York Exchange Were Generally
Very Narrow

New York December lG.-rhcre was no
renewal Of consequence of the pressure
NJ liquidation in the stock market tolHy,
but there was manifest hesitation about
undertaking any operations in seeming at
tempt to induce following and TO In
huencc tho general market The evidently
easier condition Of the money market en-
couraged this movement, hut the fear Of
recurrence of strlngency and the unset
Ting influence Of the renewed weakness
in Amalgamatcd Copper discouraged it's
extension.
Amalgamatcd Copper started downward
from the opening, but recovered momentan-
" 10 X above last weeks closing 1t
grayltated for the rest Of the day with
only slight rallies to the low point at
615s. whore IT closed. The fluctuations
In this stock were not violent and traders
described It's action AS fan Of It's weight
without any apparent artificial pressure,
The net loss Is S5s. IL is taken for granted
that the renewed dcciiue forcshadows
reduction in the dividend on Thursday as
the disbursements of dividends by a sub
sldiary company is tied up by injunction
The rate of dividend Us expected 10y specu-
lators nj all the way from ! per cent quar-
terly down TO passing 1t entirely Fears
are professed also that the cut In the sell
Ing price 81 raw copper made last week
Is a preliminary to further cuts and 10 u
war Of rates II was worthy of remark
that n London the price OF futures closed
higher than for spot for the first time
since the first week in october, The pros
pect Of The INSERTING influence Of mystery
and uncertainty over the Amalgamated diyl-
dend rate untll It's actual declaration was
sufficient in Itself 10 discourage activity
In the general market
The strength Of Saturdays bank state
ment Is due entirely "a the speculative
liquidation which took place last week. To
expand again Immediately the loan account
of these would threaten. IL Is feared, a
recurrence Of stringent money, kumors or
dangers narrowly aVerted last week. helped
TO prevent imprudence. Last weeks loan
contraction was well distributed among the
banks. showing clearly that no largeAyndl-
cate transaction was accountable Tor IL.
The condition of the worlds money mar
ket however, was easier all around today,
Discounts were lower In London ana ster-
ling exchange both at Paris and Berlin
fell back sharply. Foreign exchange here
did not rise appreciably In spite OF the
Ref II was considered encouraging also
that no deposits were made ut the sub
treasury today for transfer to the inte-
rlor. Checks for government interest IN
gaG to come to the isubtreasury today aud
the dny's payment OF the SS,OoOOOO STAND.
ard Oil dividend was an influence toward
siThS oniy stocks whose strength was
conspIcuous were New York Central, Man
hattan, ST. Louis and san BTanGl.so' LONG Long
preferred and Colorado Fuel. Their gains
were all curtailed In sympathy with the
late weakness In Amalgamated Copper.
The bond market was dpll aud Irregular
Total sales, par value, Sl,750,0OO. United
states 2s refunding advanced y and the os
coupon VI per cent on the last cah'
London Financial Gable.
New York. December 16.-The Commercial
kdvartIssx'a London financial cablesram