The age-herald., 1901-12-23
STOCK MARKET
 FINDS RELIEF AmaIgamated Copper Helped the Entire List
LIQUIDATION IN SUGAR
rhe Strength of the Day Was Most Marked in the Local Fractions and CoaIers-5onds Were
 Active All the Week.

New York. December A.-Amalgamated copper showed the same stable tendency between 66 and 57 which it 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 A under last night and unset tied the market and made the closing easy. Net results are not generally inn portant and changes run both ways. The recent cut in the price of Sugar leaves a narrow margin for profit on its produc- tion and fears are entertained for a re- newal of the Sugar and Coffee war. The bank statement showed much larger de- cline of cash reserves than anticipated at loss running to s4, 435,200, but the de- cline in deposits by reason of a loan contraction of $13,36S5 300 was sufficient to reduce the reserve requirements by an amount greater than the decrease in CdSH, iedNiiB u Bdln lOT the SuTpluS Ol $33O.3O0. 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 1h. There was a report of the pending acquisition of another railroad and ru- nor of a proposed retirement of the preferred stock. The enormous special in Amalgamated copper was an unset ting influence on the general list during the whole week. Dealings in that one stock constituted from one-quarter to one-half of the aggregated dealings on each day of the week and it's 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 in the general market. Late in the week the dividend action on the stock over shadowed all other considerations. The one per cent declaration had been pretty accurately expected, in spite of the flood of rumors constantly set afloat 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 1t had the average indicated by the pre- vious course of events, and 1t had the average of formulated authorized infor- nation, 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 1S99 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 cifc 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 CHIC ana St. Faul, ana the StOcK or the Northern Securities Company was de- pressed to near par in the curb market on almost nominal dealings.
 Realroad earnings continue to show in- creases over those of a 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 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 K the old 3s and new As and the 5s regis tered B and the 5s coupon % per cent over the closing call of last week.
 New York Stock Market.