The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-12-25
ACCESSION OF STRENGTH
EXCEPT IN TWO OR THREE STOCKS
THE CLOSE Is STEADY.
Liquidation Bears Sugar for Net
Loss of Nearly Four Points-CaII
Money Rates Are Easier.

NEW YORK, Dec. 24.-To-day's aggre-
gate dealings were slightly in excess Of
those yesterday. principally by reason of
the continued active speculation for fall
in Sugar. The dealings in the general mar
ket were in the hands of professional trad
ers, and only a small part Of the days
operations originated outside the board
room. The late recovery in prices after
the downward tendency in the early part
OF the day was sufficient to put the pro-
fessional stamp upon the days market.
Even in Sugar, although there OBJ
viously very large liquidation, the largest
traders on the exchange joined actively
in the selling for short account. There
were sales of 1000 to 10000 shares during
the day by individual brokers, and those
who were the largest sellers bought before
the close. The stock was forced down at
one time to 1885, representing decline OF
6h from last nights level. The demand
from the shorts rallied it to 111A, and the
close was at 110la, representing a net loss
of 3a4. The traders offered pessimistic argu-
ments of the very large accumulation Of
stocks, the wiping out Of profitable mar
gin in the price and the threatening in
crease in the production of beet sugar.
Parallels were drawn with the Copper cpl
sode to point to the inadequacy of the
great industrial combinations to regulate
and control trade in staple products. Mean
time the copper market in London made
a turn from its long downward course and
rallied quite strongly. Amalgamated Cop
per here resisted the general weakness
of the market and rose at one time rs over
last night, closing with a net gain of Is.
There were a few other stocks which made
Roadway against the prevailing depression,
notably the Hooking Valley stocks, which
rose 1h and 21s, respectively for the cor
mon and preferred on the reiterated rumor
of the projected retirement of the pre-
ferred. The strong movement in the gen.
eral list was based on the expectation that
there would be a furry in call money dur
ing the day on account Of the requirements
to carry over the holidays. The bears also
counted on the depressing influence of con-
tinued weakness in Sugar. The earlier rates
for call money proved to be the highest,
and lenders who held out for the high rate
found themselves with funds unplaced.
The offerings of this residue carried the
rate down below per cent. in the after
noon and was the effective factor in driving
the shorts to cover. The bears however,
showed natural inclination to gather in
their days profit before Christmas. The
market was a reflection of the holiday sea-
son throughout. The closing was fairly
steady at the rally, and with the earlier
losses mostly reduced to fractions, except
in st. Paul and Union Pacific, which were
under conspicuous pressure all day on ac-
count of the uneasiness caused by the on
slaught on Union Pacific interests in the
public statement by President HILL of the
Great Northern. Lake Erie & Western
dropped 3& and the preferred on single
sales.
The bond market was dull and irregular
Total sales at par value were $500. 000
| United States tours declined IA but all
other issues advanced Is on the closing
call.
Following are. the, days share sales and
| the recorded price changes: