The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-12-28
ROUT OF BEAR FORCES
SHOWN BY THE DAYS NET RESULTS
IN WALL STREET.
Sugar Nearly Up to the Price of
Week Ago and Copper Is Higher
Money supply Is Adequate.

NEW YORK. Dec 27-To-day's dealings
IN stocks were in excess Of those of yes
terday. and the market had the appearance
OF strength and activity throughout.
close analysis Of results will show, how
ever. that the activity and strength were
mainly in a few prominent stocks. In fact,
there was active realizing going on all day,
and when belated borrowers on call found
the money rate rising sharply over their
demand the movement to realize became
general. The top level Of prices was con-
siderably reduced a consequence, and
the market showed no disposition TO rally,
closing dull and steady al the reaction.
The highly speculative industrfals were the
conspicuous features Of the market all day,
with Sugar still in the forefront, but with
a considerable revival of speculative feel
ing in Amalgamated Copper. Sugar wavered
in the early market after opening frac-
ton higher, and touched 1111s before the
support in the stock became effective. 1t
was lifted by successive stages TO HIS
and closed at n52s, a net gain OF S1s on
the day and a net loss Of IL since Sat
urday. The weeks campaign in the stock
by the bears was thus pretty conclusively
demonstrated TO be failure The price of
refined sugar was advanced by all of the
companies to-day. The bears continued to
be harassed by intimations Of the advan-
tageous position of the refining companies
In spite Of the prevailing low prices of the
worlds large sugar supply. Amalgamated
Copper, with the dividend off, rose to 712s
and declined point lower, which is equal
to a net gain of ~ The speculation also
/ continued active in Manhattan and that
stock rose an extreme points, but shows
the principal activity continued to center
In the coalers and transcontinentals. There
was proit-taking in all of the coaers,
| notably in the Hooking Valley stocks,
! which show losses Of l to ~ after allowing
| for the dividends off, There was a very
| large absorption of the Readings, but the
common stock was the only one which rose
appreciably. New Jersey Central rose 324
| Among the transcOntinental stocks Atchi-
/ son exhibited the greatest strength on the
! favorable showing OF net earnings for No
/ vember The appearance of the long
expected annual report Of Union Pacific
| caused some realizing in the stock. but it
| rallied well. The buying seemed to come
/ from large interests and orders were ex-
ecuted by individual brokers in large
! amounts. The buying was apparently
| based on confidence that the money sup
| ply is adequate. Additional reports of de-
! creased earnings for the third week in De-
| cember of q number of important railroad
! systems in the South, Southwest and mid
| die West were apparently without effect
| and did not modify the strength Of the
| market
The bond market was active and strong
| and reflected investment buying here and
there. Total sales at par value were
! $S,55O,000 United States refunding twos
declined Is, the tves. registered, u, and
| the fives, coupon, a on the last call,
| Following are the days share sales and
| the recorded price Changes: