The daily morning journal and courier., 1901-12-17
GA S TO RE EA, Bears the 1 lhe Kind You Have Always Bought Signature ss LIxZzzZx
Ftna,rotal
THE STOCK MARX E1.
Little Liquidation-Copper Falls of Its
 Own Weight.

New York, Dec. 16.-There was no re-
 newal of consequence of the pressure
 of liquidation in the stock market to-
 day, but there was manifest hesitation about undertaking any operations for
 an advance. A handful of stocks were
 advanced by professional operations in
 a seeming attempt to induce a follow
 ing and to influence the general mar ket. The evidently easier condition of the money market encouraged this movement but the fear of a recur- renee of stringency and the unsettling influence of the renewed weakness in Amalgamated Copper discouraged its extension. Amalgamated Copper start ed downwards from the opening but re- covered momentarily to IS above last weeks closing. It gravitated for the rest of the day with only slight rallies to the low point at 61 7-S where it closed. The fluctuations in the stock were not violent and the traders de- clared its action as a fall of it's own weight, without any apparent artificial pressure. The net loss is 5-S. It is taken for granted that the renewed de- cline foreshadows a reduction in the dividend on Thursday, as the disburse- ment of dividends by subsidiary com- pany is tied up by injunction. The rate of dividend is expected by specu- lators at all the way from i per cent. quarterly down to passing 1t entirely. Fears are professed also that the cut in the selling price of raw copper made last week is q preliminary to further cuts and to war of rates. The raw copper market in London to-day con- tinued active and weak. It was worthy of remark that the price of futures closed in that market higher than that for spot, for the first time since the first week in October. The prospect of the unsettling influence of mystery and uncertainty over the Amalgamated div idend rate until it's actual declaration was sufficient in itself to discourage activity in the general market.
 The strength of the Saturday bank statement is due entirely to the specu- lative liquidation which took place last week, To expand again immediately the loan account of the banks would threaten, it is feared, a recurrence of stringent money. Rumors of dangers narrowly averted last week helped to prevent imprudence. Last weeks loan contraction was well distributed amongst the banks, showing clearly that no large syndicate transaction was accountable for it. The condition of the worlds money markets however, was easier all around to-day. Dis counts were lower in London and ster- ling exchange here did not rise appre- ciably in spite of the greater abundance of funds in the money market. It was considered encouraging also that no de- posits were made at the sub treasury to-day for transfer to the interior. Checks for government interest in an- ticipation of the January payment be- gan to come to the sub-treasury to-day and the days payment of the $S,00O, 900 Standard Oil dividend was an influence toward greater ease of money The on- ly stocks whose strength was conspic- uous were New York Central, Manhat- tan, St. Louis and San Francisco Long Island, the Iowa Central tsocks, Rub | Der Goods preferred and Colorado Fuel | Their gains were all curtailed in sym pathy with the late weakness in Anal | gamated. Net changes generally are narrow.
 The bond market was dull and ir- regular Total sales par value s1755,- ln0
 United States refunding twos ad- Is and the fives coupon 1-2 per cent. on the last call.