The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-12-28
STOCKS AND BONDS.

| New York, Dec. 27.-Today's dealings
in stocks were in excess Of those of yes
terday. and the market had the appear
ance Of strength and activity throughout.
however, that the activity and strength
were mainly in a few prominent stocks.
In fact, there was active realizing going
! on all day, and when belated borrowers
on call found the money rate rising
sharply over their demand, the movement
to realize became general The top level
Of prices was considerably reduced as
a consequence and the market showed no
| disposition to rally, closing dull and
steady at the reaction The highly
speculative industrials were the conspic-
uous features Of the market al day, with
Sugar still in the forefront, but with
considerable revival Of speculation in
Amalgamated Copper. Sugar wavered in
the early market after opening a fraction
higher, and touched 111ls before the sup
port in the stock became effective. II
was lifted by successive stages to --s7s.
and closed at 1855. net gain of SIS on
the day and net loss of Z since Satur-
day. The weeks campaign IN the stock
by the bears was thus pretty conclusively
demonstrated to be a failure. The price
OF refined sugar was advanced by all OF
the companies today and the bears con-
tinued TO be harassed by limitations OF
the advantageous position OF the REIN
ing companies IN spite OF the prevailing
low prices OF the worlds large sugar
supply. There were also confident pre-
dictions that the export duties OF crude
sugar would be reduced. Similarly hope
full views were expressed regarding the
copper industry, and Amalgamated Cop
per, with the dividend off, advanced to
714, and closed a point lower, which is
equal to a net gain OF 2ss. The specula-
ton also continued active in Manhattan
and that stock rose an extreme points,
but shows net gain Of only q.
In the railroad list the principal activity
continued 10 center in the coalers and in
the transcontinental group. There were
indications of proit-taking in some of
the coalers. notably in the Hooking Val
ley stocks. which show losses of l TO
IL, after allowing for the dividends Off
There was a very large absorption of
the Readings but the common stock was
the only one which rose appreciably. New
Jersey Central gained go. Among the
transcontinental stocks Atchison exhib-
tied the greatest strength on the IA
vorable showing Of net earnings for No
vember. The appearance Of the long
expected annual report of Union Pacific
caused some realizing In the stock. but
il rallied well. The buying in the gen
eral list seemed to come from large in
terests, and orders were executed by In
dividual brokers in large amounts. The
buying was apparently based on conf
dence that the money supply is adequate
TO carry the market through to the period
of relaxation in January. Additional re-
ports of decreased earnings for the third
week in December Of a number OF import
ant railroad systems in the south. south
west and middle west, were apparently
without effect. and did not modify the
strength Of the market. There was some
evidence OF investment demand among
high grade stocks.
The bond market was active and strong
and also reflected investment buying
here and there. Total sales, par value.
S3,550,O00. United States refunding twos
declined u. the fives registered i. and
fives coupon q on the last call.