The San Francisco call., 1901-12-01
EASTERN MARKETS.
NeaU York Stock Market.

NEW YORK. Nov. So.-Amaigamated Cop
per shares saw further Vtcissitudes to-day and
maintained their influence the general mar
ket. The raw copper markets abroad Were re-
ported Quieter to-day. after yesterdays enor-
mous liquidation. and Amalsamated started up
here. reaching l. point above last nights close.
This had reviHifying effect the long list
and an upward movement began here and
there These were among the Coalers. hard
and soft; Louisville and Manhattan. Sugar
was marked I'd over point. Then Amalga-
mated Copper resumed its recent occupa ton
ot making new low records and touched 7:is
in the coui OF the morning Very cfrcum-
stantial assertions were made that large Eales
OF copper had been contracted for behalf
OF the company at prices materially below the
list price. No official admission OF the asser-
tions could be secured. Bears covered in the
stock at the decline and Il closed at I4n. 4 net
decline Of point. Brooklyn Rapid Transit
was another point Of acute weakness with y
loss OF nearly points account OF the de-
crease in October net earnings caused by the
increase in operating expenses. The whole
market gave way, led BY these two stocks,
when the bank statement appeared. The in-
crease in loans and the consequent Increase in
deposits resulted in reducing the surplus over
million dollars by reason Q: expe ended margin
change makes further exports Of gold next
week increasingly problem2tscnl. The hnsi
covering by room shorts made the Closing
~AN~~A
The movement Of prices during the week has
the promise Of yfxorous Upward naovsrne ut
has not been realized. There have been sgong
suffered marked losses. but the market has
shown the effect 10 some extent of n recrudes-
cence Of uneasiness over the possible year-end
Developments in the money market. There
has been realizing here and there on the pub
LEGATION Of anticipated good news and some
selling b. disappointed holders over the fail
ure OF expected good news TO matcrialize. The
delayed meeting Of Vanderbilt railroad d!rec-
tors did not bring the hoPed-for announce
ments Of the deal Of which there has been
vague talk for weeks. and some Of the mem
6ers OF the group suffered m conseauenee.
New York Central has been continued con-
hdent on all receszions. The violent and ere
ratio fluctuations in Amalgamated Copper have
been "a mother disturbing influence This stock
rallied sharply Monday morning the de-
nisI of last Saturdays reports that papers
Attorney Generai's offce in Wilmington. but
the opening price on Monday proved 10 be the
highest Of the week. and heavy offerings Of
the shares have been feature VI the market
RumoTs OF 2 coming cut In the price Of copper
here and another violent break IN the price OF
&c reduce prices In New York. There have
been frequent reports OF plans formulating for
FEDERAL steps against the great consultations
OF capital. including the Northern Securities
Company. The probs bic attitude to be taken
by President Roosevelt on this subject In his
message 20 Congress has beer much canvassed
II Is accepted as foresone conclusion that
agitation on this subject will have a proni-
ntnt place In the proceedings Of the coming
session Of Congress. Stocks Of industrial COM
binstions outside o. Amaigamated Copper have
been little affected owing 60 couuteTscting in
huences Thus Sugar has gone up on the hope
of q reduction or abolition CT duties on raw
sugar from Cuba and the fslend posses
sions- The downward course In the foreign ex-
change market. which set In late last week
has given place 20 sharp recovery. and led
70 renewed anxiety over possible gold ex-
ports. IL appears that New York borrowed IN
Paris 70 some extent during the week, which
helped TO ease the market early in the week
The pressure for gold at Paris has obviously
relaxed, hat the price OF gold ~ advancing
again IN London. II the Bank OF England de-
sires 20 attract cold IN preparation for the
yearly settlements there Is probability that
IL Will be able 10 DO So
There has been a good demand for bonds
and a rather Irregular price movement In
United states bonds the new ts advanced 4
per cent In the Last call.