The age-herald., 1901-12-22
STOCK MARKET .,..s 70 FINDS RELIEF e
 AWaIgamated Copper Helped
 [ the Entire List LIQUIDATION IN SUGAR
The Strength of the Day Was Most Marked in the Local Fractions . and Coalers-Bonds Were
 : Active All the Week.

New York December 21.-Amalgamated copper showed the same stable tendency between 66 and 57 which 1t developed yesterday and the relief afforded the general market by this turn of affairs continued in evidence, The bank state ment gave evidence of satisfactory con ditions in the money market and also prompted some buying of stocks. but the sympathetic strength in the general mar .ket was taken advantage of for an &C., tive liquidation in Sugar, which forced that stock AZ under last night and unset tied the market and made the closing easy Net results are not generally i'm portant and changes run both ways. The recent cut in the price of Sugar leaves "a narrow margin for profit on it's produc- tion and fears are entertained for a re- snewal of the Sugar and Coffee war The bank statement showed much larger de- cline of cash reserves than anticipated at loss running to $4435,2OO, but the de- tcline in deposits by reason of a loan contraction of s13,36S, 800 was sufficient to sreduce the reserve requirements by an amount greater than the decrease in cash leaving a gain for the surplus of s3S0,300. The strength of the day was most marked in the local fractions and in the coalers both soft and anthracite. Hooking Valley added 25s to yesterdays principal rise and the preferred gained IF. There was report of the pending acquisition of another railroad and a ru- nor of a proposed retirement of the nrafnTFa6 "a in Amalgamated copper was an unset ting Influence on the general list during the whole week. Dealings in that one stock constituted from ond-quarter to one-half of the aggregated dealings on. each day of the week and its incessant and violent fluctuations benefited the Insight of the most skillful operators. The successive cuts in the price of raw. copper, while doubtless of vital import to the ultimate value of the stock seem, ed to have a soothing effect upon the stock, while adding to the unsettlement fin the general market. Late in the week the dividend action on the stock over .shadowcd all other considerations. The one per cent declaration had been pretty accurately expected, in spite of the flood of rumors constantly set ahoat by the professional traders for manipulative purposes. The official statement by the directors of the Amalgamated company after the dividend declaration threw very little light upon the situation but it had the average indicated by the pre- vious course of events, and 1t had the average of formulated authorized infor .mation. as against wild surmise and ru- nor, which have prevailed for a long time previously.
 The dominant interest in trade urges the benefit of stability of prices and points to the sudden collapse in demand which resulted from the buoyant rise of prices in 1899. In the railroad world the anomaly is presented of a pressure of traffic which equipment is inadequate to accommodate, according to continued complaints which continue to come from all sections, while reports of the cutting of rates are more and more frequent. Even railroads which are connected in newly-formed communities of interest are affected by rate-cutting, according to reports published in Wall street. The di- rictors of the new Chicago Burlington and Quincy Railroad as announced reveal the expected representation of Union Pa cific interests and the delayed annual re- port of the Union Pacific discloses the process of financing that company's in terest in Burlington and the Northern Securities Company.
 In the week there was urgent pressure in the stock market against Union Pa ciflc and St.. Paul, and the stock of the Northern Securities Company was de- pressed to near par in the curb market on almost nominal dealings.
 RealroaG earnings continue to show in- creases over those of year ago, but with some important exceptions, and the ratio of average increase Is less than that recently prevailing. The stock mar ket has made good headway against the unsettling influence of the Amalgamated Copper disorder and the other items of uncertainty indicated
 There has been a broad and active bond market this week, showing the ef- feet of the investment demand in antici- patton of the January disbursements.
 United States refunding 2s advanced A, the old 3s and new As and the 5s regis tered A and the 5s coupon A per cent over the closing call of last week.
 sifl New York Stock Market