The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-12-17
STOCKS AND BONDS.

New York. Dec. 16.-There was no re-
newal of consequence of the pressure OF
liquidation in the stock market today,
but there was manifest hesitation about
undertaking any operations for an ad-
vance. A handful of stocks were adj
vanced by professional operations in a
seeming attempt to induce following and
to influence the general market. The
evidently easier condition of the money
market encouraged this movement, but
the fear of recurrence of stringency
and the unsettling influence of renewed
weakness in Amalgamated Copper dis
couraged it's extension. Amalgamated
Copper started downwards from the
opening, but recovered momentarily to
h above last weeks closing. 1t gravi-
tated for the rest of the day with only
slight rallies to the low point at 61B,
where it closed. The fluctuations in the
stock were not violent and traders de-
scribed it's action as fall of it's own
weight, without any apparent artificial
pressure. The net loss is 3M. 1t is
taken for granted that the renewed de-
cline foreshadowS reduction in the di-
vidend on Thursday, as the disbursement
of dividends by subsidiary company is
tied up by injunction. The rate of divi-
dend is expected by SPECTATORS at all
the way from one per cent quarterly
down to passing it entirely. Fears are
protested, also that the cut in the selling
price of raw copper made last week is
preliminary to further cuts and to a
war of rates. 1t was worthy of remark
that in London the price of futures
time since the first week in October
of mystery and uncertainty over the
Amalgamated dividend rate until it's
actual declaration was sufficient in it.
self to discourage activity in the general
market The strength of the Saturday
bank statement is due entirely to the
speculative liquidation, which took place
last week. To expand again Immediately
the loan account of the banks would
threaten, it is feared recurrence of
stringent money. The condition of the
worlds money markets, however, was
easier all round today. Discounts were
lower in London and Sterling exchange,
both at Paris and Berlin, fell back sharp
ly. Foreign exchange here did not rise
appreciably in spite of the greater abund-
ance of funds in the money market. 1t
was considered encouraging, also that no
deposits were made at the Sub-Treasury.
today for transfer to the interior.
Checks for Government interest in anti
cipation of the January payment began to
come to the sub-Treasury today, and
the days payment of the eight million
dollars Standard Oil dividend was an in
fluence towards greater ease of money
The bond market was dull and irregu-
lar. Total sales par value s1,755,000.
United States refunding rs advanced Is
and the IS coupon II per cent on the
last call.
Total sales of stocks today were $685.
500 shares, including: Atchson 16,200
Atchison, preferred 5000; Erie $4,000;
Manhattan 32,300 Metropolitan Railway
15,400; Missouri Pacific 1900; New York
Central 10000; Pennsylvania $500;
Reading 90 400; Reading, second preferred
6,100; st. Louis and San Francisco 7700;
st. Paul, $4,000; Southern Pacific 10000;
Southern Railway 1880; Union Pacific
AZ, 400; Wabash 10000; Wabash, preferred
1900; Amalgamated Copper 100000;
Brooklyn Rapid Transit 1850; Sugar TO-
500; United States Steel 27,2O0; United
States Steel, preferred $500.