The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-12-21
NEAR STABLE EQUILIBRIUM.
DIVIDEND HAD GOOD EFFECT.
Prospective Avoidance Of Possible Labor
Troubles Had a Reasoning influence
on the Stock Market in General

New York, December 2O.-The stock mar
ket showed its Immense relief today from
the disturbing effect Of the recent &C.
centricity of Amalgamated Copper. There
We're some further contortIons in that stock
for a short time after the opening, but 1t
settled down into a condition of quiet
which has not been seen for many weeks
Between &c and o. 1t seemed to have ar
rived at condition Of stable equilibrium.
The opening dip to 641a was apparently
due 10 II drive from the bears who sought
an opportunity to cover their short con
tracts. The high level of the stock for
the day was at as and the net gain was
point. The statement issued by the direct
ors last night was accepted as a proclama-
tion OF a struggle for business with the
independent companies and such cut in
the price OF the product would be neces-
sary, This, however. had been definitely
foreshadowed by previous developments
and had been perverted and exaggerated
by all sorts of rumors and manipulation.
With authorized official information as u
basis OF operations the steadlness and quiet
tone OF the stock offered a remarkable con
trast. The solution of part OF the mys-
terry which has hung over this stock let
loose the forces Of demand which have
lain dormant in the market for several
Gays past Inc uusluE was apparent!
based on general considers ton of the high
degree Of prosperity which Is prevailing In
all branches of trade.
The special strength OF the ooalers, which
led the advance. was due to the seasonal
bile weather for the trade and to reports
of possible coming advance In the prices
of anthracite. The formation OF the arui-
tration committee by the National Civic
Federation was a factor in the strength ~
this group, as the president OF the miners
organization has prominent place on the
labor troubles among the miners during
the coming year has been persistent in
huence in discouraging speculation In the
stocks. The advances ran fEom about
point up 70 21a IN Delaware and Hudson
and In Hooking Valley.
The strength Of the Pacihcs and trans
continentals was apparently based on the
favorable showing which II Is said the
Union Pacific annual report VIII make. Re
toward that end. OF rate disturbances 10
the West helped the railroad list general
ly. The bull campaign In the local trac-
ton stocks was renewed under the leader
a number Of industrlals were based on in-
ternational conditions. The express stocks
house Electric rose buoyantly 1lA and NJ
reaction closed with net gain Of Q.
Sugar was heavy on the signs Of the re-
newal Of the rate war IN th9t trade; =,
the day TO . per cent, but had very little
effect on the stock market. Although the
banks have apparently lost nearly $1,000
0aO Ia cash during the week, sentiment Is,
for the moment optimistic over the money
outlook Tomorrow bank statement IL
IS hoped viii reveal large loan contrae
tlon. although The rise In call money today
falls TO corroborate this expectation. The
fact that tomorrows steamers are the last
on which gold shipments could reach for
eign destinations fn time for the annual
was felt 70 end the possibility
Of fuithee drain on that score. The pay
ment today OF the dividend on United
States common. amounting to oyer $1,000