The Montgomery advertiser., 1901-12-25
COTTON
WALL STREET REVIEW MARKET LEFT IN HANDS OF
 PROFESSIONALS. The Continued Selling in Sugar Caus- ed Slight Excess in Aggregate
 of Dealings Over the
 Day Before.

NEW YORK, Dec 24.-Today's aggregate dealings were slightly in excess of those yes terday, principally by reason of the continued active selling in sugar. The dealings m the general market was in the hands of profcs- sional traders and only a small part of the days operations originated outside the board room. The late reCoApry in prices after the steady downward tendency nf the early part of the day was sufficient to put the professional stamp upon the days market Even in sugar, although there Was obviously very large H. quidation, the largest traders on the exchange joined actively in the selling for short count. There were sales of 1000 to 10 900 shares during the day by individual brokers, and some of the largest sellers bought to cover before the close. The stock Was forced down at one time to l031s. representing a de- cline of 6B from last nights level The de- mand from the shorts rallied it to lO64l and the close was at lo5H. representing net loss Of 3sa. The traders offered pessmistic arguments of the vary large accumulation of stocks, the wiping out of a profitable margin in the price and the threatening increase in the production of beet sugar Parallels were drawn with the copper episode to point to the inadequacy of the great industrial com binations to regulate and control trade in staple products Meantime the copper mar ket in London made turn from it's long down ward course and rallied quite strongly. Anal gamated Copper here resisted the general weakness of the market and rose at one time x over last night, closing with net gain Of X. There were few other stocks which made hcadway against the prevailing depression, notably the Hooking Valley stocks, which rose ? and 2is, respectively, for the common and preferred on the reiterated rlI-
 
 ferred. The strong movement in the general list was based upon the expectation that there would be a furry in call money during the day on account of the requirements to carry over the holiday. The bears also counted upon the depressing influence of continued weakness in sugar. The earlier rates for call money proved to he the highest and lenders who held out for the high rates found themselves with funds unplaced. The offering of this residue carried the rate down below per cent in the afternoon and was the effective factor in driving the shorts to cover The bears. how showed inclination he in their days profit before Christmas The market was a reflection uf the holiday season throughout. The closing fairly steady at the rally and with the earlier losses mostly reduced to a fraction, except in St. Paul aud Union Pacific, which were under conspicuous pressure all day on account of the uncasi- ness caused by the onslaught upon Union Pa cihc interests in the public statements by President Fill of the Great Northern Lake Erie and Western dropped 3A and preferred single sales.
 The bond market was duu and irregular Total sales (par valuc) s e2oooo United Sttaes Is declined | |. but all other issues ad- VanCCd is on the closing call