The times. [volume] (Richmond, Va.) 1890-1903, 1901-12-28
PRICE LEVEL
| WAS REDUCED
Strength of Market Mainly in Few
Prominent Stocks.
ACTIVE REALIZING WENT ON
Rise ia Rate OF Gail Money Mase Reaction
General, snd Market Closed Dull
and Steady at the
Lower Levsl
ACTIVE REALIZING WENT ON
Special Dispatch 70 The Times.

he NEW YORK, Dec. 21.-To-day's deal
lEsnGs in stocks We're N excess OF tnos= of
ltsycsterday, and the market had the APP
|s)caraTce of strength and activity through
lisout. "A closer analysis Will show, now
lNeVer that the activity and strength was
tssnainiy in few prominent stocks. IN
l5Sact. there was active realizing -oinG on
I&ali day. ana when hclatcd borrowers on
Is#caii found The money rate rising shaEpiy
I8orer their demand the movement 10 fe;t-
,{alzc became general Inc top lever ~
IsspriceS was considerably reduced as a cor
Igfscquence, and the market showed no ois-
Exposition TO rally, closing dun ana s,eaoy
tsIt the reaction. The highly speculative
iAndustrials were the Conspicuous iEaSu 'fs
|sEol the market All day, with Sugar in tho
tdorc front, but with cons-us. s.n,e ~
ISNival of speculation IN Arnai2ainated Cop
4 per. Sugar waYered in the early market
! ftcr opening n traction higher, ard
Etouched 1lliA before the support IN the
lsStt;,k became effective. J WIS lifted by
[Ssuccsssive stages 10 HES and closed at
f5ll5k, a net gain OF BIS on the day ana a
|efici loss of y! since Saturday. The week s
campaign in the stock by The bears was
aapretty concluSIvely demonstrated to be a
asiailurc. The nrIoa of refined sugar was
edadvanced by all of the companies to-day;
8ttnd the bears continued to be harassed
H4by intimations OF the advantage Owing
ITO The position of the refining companies.
Fin spite Of the prevailing low prices OF
;4he worlds large sugar supply. There
Hfwas also confident predictions that the
ginport duties crude sugar would be
BReuuced. Similarly hopeful views We're ex-
f pressed regarding this copper INDUSTRY.
4and Amalgamated Copper with the divi-
ssdend Off advanced to T1a4 and closed a
sspoint lower. which is equal to a net gain
siof 2&. The speculation also continued ac-
Htive IN Manhattan, and that stock rose
points but shows n net gain OF only y.
eln the railroad list the principal activity
ssoontinred 10 center in the Coalers and III
sAho Transcodtinental group. There were
tSindications of proiit-takng in some OF
fthe coalers. notably in the Hooking Valley
sstrcks which show losses of l4112 after
i$illowing for the dividends off. There was
la very large absorption of the Readings.
,sbut the common stock was the only one
(which rose appreciably. New Jersey Cen
lSttai gained 3$i Among the Transconti-
,BiuGtal stocks, Atchison displayed the
Iigrc attest strength on the favorable show
hing OF net earnings for November. The
appearance OF the long expected annual
Ireyort of Union Pacific caused some real
Filing in the stock. but il rallied we'll.
ggrhe buying in the general list seemed to
Scomc from large interests. and orders
were executed by individual brokers in
Elarge amounts. The buying was appar
Scrtiy based on confidence that the money
ssupply is adequate 10 carry the market
8t through to the period of relation in Jan
quarry Additional reports Of decreased
earnings for thu third -7nll in December
5of a number OF important railroad sys
9tcms in the South. Southwest and Mid
2dle West We're apparently without effect,