The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1901-12-24
FORCED DOWN
MANY POINTS
Previous Low Record For Sugar
For This Year Broken That
Stock Selling at 1903 Ia at the
Close of the Days Trading
RESUMPTION OF WAR
IN THE TRADE FEARED
AmaIgamated Copper Maintained
Its More Stable Tone FIuCtua-
ting Less Than a Point-Con-
tinued Disorder in the London
Metal Markets

New York Dec. 23.-Todays stock
market took on the tone of holiday
dullness and the volume of dealings
fell away to little over half a million
shares of which a large proportion was
in sugar. The fluctuations in the gem
eral market were not of great impor-
lance outside of sugar There was a
disposition to advance railroad stocks
in the early dealings especially the
coalers, but the steady liquidation in
sugar had an unsettling influence on
the market and the stiffness OF the call
loan market discouraged speculation.
The banks generally marked up their
standing call loans to s per cent and
the greater part of the city's business
was at that rate The incentive in d
call loan rate below per cent while
brokers charge their customers g per
cent to carry stocks, was therefore
lacking and commission houses show a
languid interest in the market.
The deep cut of % points made by
the American Sugar Refining Company
IN the price of refined sugar, thus un-
DER bidding their principal competitor,
caused discussion of the probability of
a resumption of a war in the trade.
But much attention was also given as
SertiOnS of the threat of competition
growing out of the great increase in
production of beet sugar, and the very
low prices at which that product is
selling in Europe only twice during the
day did sugar rally as much as point
TO interrupt it's persistent downward
course The final price was the lowest
and Gas below Saturdays closing, The
previous low record for this year was
broken at 1925 Today's final price
was 109A.
Amalgamated Copper maintained its
more stable tone fluctuating less than
a point, but always below Saturday
level. The stocks net loss is IS. There
was some continued disorder in the
metal markets in London which was
reflected in a point decline in Nation
al Lead preferred here, the common
stock also losing point. The firm
ness in the COalers was due to the ur-
gent character of the demand for coal
which is reported to amount to a fam
inc at some points, thus maintaining
the prosperity of the year of la q est
production and greatest profits in the
coal trade. Pittsburg, G. G. & St Louis
rose and the preferred rs. New York
Air Brake broke Is on the report of a
judicial decision against one of the
company's patents, but recovered a
large part Of the loss
The probability that money rates will
not relax until sometime after January
I, repressed speculation. The unprece-
denied holiday trade is making large
local demand for cash, and it is report
ed that the trust companies are draw
ing down their deposits with the banks
somewhat for the year end require
ments. There was deposited at the
sub-treasury $35O,O00 today for transfer
To New Orleans MANY predictions CON
tinue to circulate of January rise in
prices, after money becomes easier.
There is quite an urgent demand for
stock exchange seats which resulted
I'm sale on Saturday for $4,000, which
was a new record, While the bid was
raised today to $7L5OO, with $4,000 the
asked price.
Bonds We're but moderately active to-
day and irregular. Total sales, par
value, 50, 7O5. coo, United States regis
tered and the new As declined Il per
cent on the last call