The daily morning journal and courier., 1901-12-27
g1ma1rcta1
1HE STOCK M1KhL'I.

Close Strong and Active-Copper Gains.
 New York, Dec. 26.--The bears in the
 stock market beat precipitate re- treat in the latter hours of the day s
 session at the stock exchange, and
 their eager rush to buy in order to cov-
 CT short contracts developed a fairly
 buoyant condition before the close.
 There were some relapses in the more
 volatile stocks, but the close generally
 was strong and active and near the top level. The volume of dealings
 showed a material increase over that
 prevailing for the last few days. The
 bears were inclined to continue their campaign when the market opened this
 morning and they effected a number of serious inroads upon prices. But
 they soon became aware that their free offerings were being absorbed in a volume and confidence which sounded a warning. Sugar continued to be the leader of the market but by no means in so overwhelming proportion as of late. The vigorous support accorded this stock and the success achieved in driving the bears to cover in it were important factors in turning the gen eral market upwards and in swelling the demand for other stocks to an ex- tent which lessened sugars portion of dealings in the market. The bears in the stock showed growing evidence of acute distress and of having over ex- tended their accounts, apparently in the confidence that the recent experi- ence on the copper was to be repeated in sugar Rumors got abroad that ne- gotiations were in progress for patch- ing up truce in the trade war. There was a growing suspicion that while both crude and refined sugar are sell ing at very low prices, the margin be- tween crude and refined is till suffi- cient to afford a profit upon the indus try of refining. Whatever may be the ground of to-days rumors, the shorts were thrown into a fright, and rushed the price up from the low point at 103 5-S to 113 1-2. The stock closed at 112 IA net gain of 6 3-4. Amalgamat- ed copper, after sharing in the heavi- ness of the early market, also developed a very strong tone, adding to the sen- timental effect of the rebound in sugar. The price rose to 69 1-2 and closed only a shade lower at q net gain of 2 3-S. The quieter tone of the London copper market reports of some large takings by manufacturers and the strength of Rio Tintos in Paris on reports that an an hot was imminent, under the pressure of the fall in price, all helped the advance in Amalgamated. The electrical ele- ment was very strong. The majority of railroad reported decreases com pared with last year and this was an influence in the early decline especially in St. Paul. That system Louisville, a number of important southwestern systems and smaller railroads reported decreased earnings. The showing was ignored apparently because of the very high level of earnings in the third week of December of last year, which were some Il per cent. over those of the preceding year and were notably heavy in the southwestern region. The southern, Pacific and Grangers became very SJTO1S lHle III lne uHy. lHG udIu and soft coal carriers were active and strong all day, gains in some of the leaders reaching between and points and in Hooking Valley four points. Money seemed to be in abundant sup ply and confidence that it would con tinue so added to the strength of the market. There was reported from Washington a purchase of s2500, 900 of bonds from New York firm for delivery before January l. It is expected that there will be 2 quick and very large return of cash from the channels of the enormous holiday trade.
 The bond market was moderately &C., tive and firm. Total sales par value B, ,44O 900.
 United States 5s advanced IA per cent on the last call.
 Closing Prices.
 Following are the closing prices reported l by Prince & Whitely. Bankers and Brokers. [ 52 Broadway, New York, and 1b 'cnter st. | New Haven. Bid. Asked. |