The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-12-27
NEW YORK STOCK MARKET.

New York, December 24.-Today's ag-
gregate dealings were slightly in excess
OF those of yesterday, principally by
reason Of the continued active specula-
lion for a fall in Sugar. The dealings
in the general market were in the hands
of professional traders and only a small
part OF the days operations originated
outside the board room. The late re-
covery in prices after the steady down.
ward tendency of the early part of the
day was sufficient to put the profess
sional stamp upon the days market.
Even in Sugar, although there was OBJ
viously very large liquidation, the
largest traders on the exchange Joined
actively in the selling for short account
There were sales Of 200 to 10000 shares
during the day by individual brokers.
and some the largest sellers bought
to cover before the close. The stock was
forced down at the time to 103s, repre-
senting a decline of GB from last nights
level. The demand from the shorts rail-
lied it to 1867 and the closing was at
1861, representing a net loss of 81.
The traders offered pessimistic argu
ments of the very large accumulation
of stocks, the wiping out of a profitable
margin in the price and the threatening
increase in the production of beet SUI
gar. Parallels were drawn with the
copper episode to point to the made
Quacy of the great industrial combina-
tionS to regulate and control trade in
staple products.
Meantime, the copper market in Lon
don made a turn fro mitS long down
ward course and rallied quite strongly.
Amalgamated Copper here resisted the
general of the market and
rose at n time rs over last night,
closing with a net gain of Is.
There were a few other stocks, which
made. Roadway against h prevailing
depression, notably the Hooking Valley
stocks. which rose IL and 2b respect
lively for the common n preferred on
the reiterated Tumor of the projected
retirement of the preferred.
TIL selling movement in the general
list was based upon the expectation that
there would be a furry in call money
during the day on account of the re-
quirements to carry over the holiday.
The bears also counted upon the de-
pressing influence of continued weak
ness in Sugar. The earlier rates for
call money proved to be the highest,
and lenders who held out for the high
rates found themselves with funds un-
placed. The ocerings of this residue
carried rate down below 6 per cent. in
the dll6TIOOn anu was Tic tllSCllfo
factor in driving the shorts to cover.
The bears, however, showed a natural
inclination to gather in their days prof
1t before Christmas. The market was a
reflection of the holiday season
throughout. The closing was fairly
steady at the rally and with the earlier
losses mostly reduced to a fraction. ex-
cept in ST. Paul and Mon Pacific, which
were under conspicuous pressure all
day, on account of the uneasiness
caused by the onslaught upon Union
Pacific interest in the public statement
by President Hill of the Great North
ern. Lake Erie and Western dropped
81 and the preferred 4 on single sales.
The bond market was dull and irreg-
ular. Total sales, par value, were 81
800, 900. United States SIS declined u,
but al lother issues advanced Is on the
closing call. Total sales of stocks for
the day were GAS. 500 shares,