The age-herald., 1901-12-21
STOCK MARKET
 SHOWED RELIEF Recovering from the Disturb ance Caused by Copper SETTLED DOWN FOR AWHILE High Level of the Stock for the Day Was es and the Net Gain Was
 a PoInt-The Industrial
 Group Strong.
SETTLED DOWN FOR AWHILE

New York. December 20.-The stock market showed its immense rehet toeas from the disturbing effect of the recent eccentricity of Amalgamated copper There were some further contortiohs III that stock for a short time after the op- eninx, but it settled down into cohol- ton of quiet which has not been seen for many weeks. Between 66 and bf It seemed to have arrived at a condition Of stable equilibrium. The opening drop of A. was apparently due to a drive rom the bears, who sought an opportunity to cover their short contracts. The high level of the stock for the day was at 6S and tho net gain was a point. The state ment issued by the directors last night was accepted as a proclamation of struggle for business with the indepen- dent companies, and such cut in the price of the product as would be neces- pary.
 This, however, had been definitely fore shadowed by previous developments, and had been pervert ed and exaggerated by all sorts of rumors and manipulation With authorized official information as a basis of operations the steadiness and quiet tone of the stock offered a remark able contrast. The solution of part of the mystery which has hung over this stock let loose the forces of demand which have lain dormant in the market for several days past. The buying was apparently based on general consideration of the high degree of prosperity which is prevailing in all branches of trade. The special strength of the coalers which led the ad- vance was due to the seasonable weather for the trade and to reports of possible coming advance in the price of anthra- cite.
 The formation of the arbitration com mittee by the National Civic Federation was factor in the strength of this group, as the president of the miners organization has a prominent place on the committee and the fear of an out break of labor troubles among the miners during the coming year has been per sistent influence in Encouraging specula- tion in the stocks The advances ran from about point up to 21A in Delaware and Hudson and in Hooking Valley. The strength of the Pacifics and trans co1tineIldlS was apparently DdSeu on the favorable showing which, 1t is said the Union Pacific annual report will make. Reports of adjustments or efforts making towards the end of rate disturb ances in the West helped the railroad list generally. The bull campaign in the To- cal traction stocks was renewed under the leadership of Manhattan.
 2 The sharp gains In Q number of indus trials were based on individual considera- '-tions The express stocks were conspicu- zous as a group. Westinghouse rose buoy artly 111h and at a reaction closed with a net gain of g. Sugar was heavy on the signs of a.renewal of the rate war in that commodity.
 The rate for call loans stiffened late in the day to per cent, but had very little effect on the stock market. Although the banks have apparently lost nearly $2,00O,- GOO in cash during the week, sentiment is for the moment optimistic over the money outlook.
 Tomorrow's bank statement, it is hoped, will reveal more large loan contraction although nothing is absolutely certain to base an opinion that this will be the 2 case. The payment today of dividends on United States Steel stocks of $500O,00 had a better influence on those stocks.
 Bonds were irregular Total sales, par value $2, 39O0O0. The United States 2s registered and the old and new As ad- vanced M and the treasury coupon de- clined A per cent on the last call | New York Stock Market.
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