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A linearized equation for the propagation of surface gravitational waves in a layer of magnetized liquid of finite depth is examined. The liquid is assumed to be inviscid, incompressible, and to possess magnetization properties in the absence of electrical conductivity, while the motion is assumed to be irrotational. Travelling wave solutions are obtained. The dependences of the phase and group velocities of the magnetic liquid on the magnetic parameters are studied. It is shown that for some values of the magnetic parameters there is an interval of short wavelengths for which the group velocity is negative, which indicates that the wave energy propagates in the negative direction.