The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-12-28
Stocks. Bonds and Money

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 through,
out A closer analysis of results Will
show, however. that the activity aud
5 strength were mainly in a few prominent
stocks. In fact, there was active fealiZ.
ing going on all day and when belated
borrowers on call found the money rate
8 rising sharply over their demand, the
movement to realize became general. Th5
top level of prices was considerably re-
duced as consequence and the market
showed no disposition to rally, closing
dull and steady at the reaction. The
highly speculative industriais We're the
conspicuous features of the market all,
day, with sugar still in the fore front.
but with considerable revival of spec
0ation in ANA ganated Copper. Sug TT
Wavered in the early market after open
ing traction higher and touched lll@
before the support In the stock became
effective. 1t was lifted by successive
stages to 1173s and closed at 1855, net
gain of 31s on the day and net loss OF
12 since Saturday. The week S campaign
in the stock market by the bears was
thus pretty conclusively demonstrated 10
be a failure The price Of refined sugar
was advanced by all of the companies
today and the bears continued to be
harassed by intimations of the advan-
tageous position of the refining compa-7
MES. in spite of the prevailing low prize
of the worlds large sugar supply. There
port duties on crude sugar. would be re-
dueed. Similarly hopeful views We're ex-
pressed regarding the copper industry
and Amalgamated Copper with the div
idend off advanced to 7l&, ana closed
point lower which is equalNto net gam
of 2ss. The speculation also continued
active in Manhattan and that stock rose
an extreme points, but shows net gain
of only q. In the railroad list the pr1n-
cipal activity continued to center In the
coalers and in the transcontinental group.
There We're inolcationS of prof1t-taklng III
some of the coalers, notably in the HOOK.
ing Valley stocks, which show losses u
1 to ~ 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 appreelablv
New Jersey Central gained 3A. Among
the transeontinental stocks Atchlson eX-
hibited the greatest strength on the ia
vorable showing of net earnings tor NO
vember The appearance of the long-eX-
pected annual report of Union PacH.c
caused some realizing in the stocks, Du-
eral list seemed to come from large III
terests and orders were executed by IN
dividual brokers in large amounts. Inc
buying was apparently based on conn
dence that the money supply is adequa se
to carry the market through to the pc,
riod of relaxation in January Add1t!on3l
reports of decreased earnings Tor the
third week in December of a number OF
important railroad systems In the Soutn
Southwest and Middle West were apnar-
emily without effect and did not mCHty
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.
So, $780, 900. United States reminding rs De
clined Is, the 5s registered "A and os
coupon q on the last call.