The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-12-18
STOCKS AND BONDS.

New York, Dec. 1.-THE undertone OF
the stock market was decidedly firmer
today, growing into strength as the day
progressed, and the closing was fairly
strong with notable net gains in a num-
Der of prominent stocks. The specula-
ton was almost entirely professional and
was repressed in its nature with dispo-
sition to caution about encroaching on
the limited money supplies. Amalga-
mated Copper maintained it's dominant
influence on the market and it's inces-
SAINT fluctuations had some sympathetic
effect always, but the effect was more
marked on the upward range Of prices.
and the gains established in the general
market were yielded stubbornly when
Amalgamated Copper reacted. The stock
touched 60I5 soon after the opening, q
decline from yesterdays closing and
record low level of 1Ss The raw copper
market in Iondan was reported weak
and shares Of copper companies every
where were depressed. Some violent de-
clines were reported from the Boston
Stock Exchange. Opinion as to the next
dividend continued pessimistic, the most
favorable forecast of Thursdays action
naming a I per cent dividend. The re-
cOvery in the stock was apparently based
on the rally in the raw copper market in
London. This rally extended further in
futures. which were also more largely
utdll III IMAM III spot. mus increasing the
premium on future deliveries OF copper
which developed yesterday for the first
time in almost three months. Amalga-
mated touched CAS- and after numerous
fluctuations below that point. closed at
651z, net gain of is. The money mar
ket was very quiet, rejecting the eau
tious tone Of the speculation. Call loans
ruled at 6 per cent until late in the day,
when the placing of a residue carried the
T-of 70 rtor 81
strong. but foreign bankers express the
opinion that there is no likelihood of fur
Their gold going out before January /.
The requirements at Berlin have been
met according to the indications of the
strong weekly statement of the reichs-
bank. The demand for exchange is for
remittance on account of interest and
dividend obligations to foreign holders.
The sub-treasury made large payments
today on account of the anticipated gov
eminent interest. There were no de-
posits for transfer to the interior. Drans-
continental stocks were prominent for
strength and apparently thrived on the
passage of the isthmian canal treaty.
The argument for & permanent injunc-
ton in a suit to restrain the retirement of
Northern Pacific preferred had no effect
on them and they rose in the face of
somewhat alarming reports of rate-cut-
ting among western railroads included in
the community of interest which were
apparently interested for other than Wall
Street consumption. Cuts in the price of
petroleum, sugar. lead and linseed oil
had depressing effect on securities of
companies in those trades. The Pressed
Steel Car stocks were heavy on reports
of an opposition company to be orga-
nized A very active demand for the
Southern Railway stocks developed late
in the day and helped to make the closing
strong. A recovery of 4 points in Rub
Der Goods preferred and further rise of
In Long Island were features.
The bond market was moderately active
and irregular. Total sales. par value
s., $4,000 United States coupon threes
advanced q, and the refunding twos x
per cent. The fives coupon declined j
per cent on the last call.
Closing prices of stocks were as follows: