The age-herald., 1901-11-24
PROFIT TAKING IN
 TIE STOCK MARKET AmaIgamated Copper Was Weak Throughout the Day SUGAR BREAKS B POINTS Extensive Resources of the Domestic Money Market Are Shown By
 Recuperation Against Heavy
 Exports of Gold.

New York, November 2S-There was q disposition to take profits in some or the recent favorites which had an uo- settling influence on tho stock market at the outset Michigan Central jumped two points on the purchase of zoo shares. The Buffalo, Rochester and Pittsburg stocks and Minneapolis, St. Paul and Saulte Ste. Marie preferred rose 21s to 6A. Amalgamated Copper was weak through out with the exception of slight frac- tional gain at the opening. ln the late dealings the stock slumped to sS which is fraction below the lowest price ever previously touched. The assertion was published in the street that papers against the Amalgamated Copper are being prepared in the attorney generals office at Washington. Tho report ef- fected break of 311 points in Sugar as svell.
 ; This weakness took the edge off the sally on the strong bank statement and made the closing very irregular. Renew ed selling developed at the last hour in the trans-continenta1 stocks also. The rash reserves of the banks increasing about as foreshadowed and the heavy loan contraction of S13,504, 400 confirmed the belief that the gold exports of the week went to liquidate foreign loans. It is asserted that the break in exchange is partly due to renewed selling by bankers fin the process of extending foreign loans still maturing which amounts to the ere ation of a fresh supply of short accounts in exchange to be covered at later ma Fr4. -t. irTsfa Elar in the stock market during the week leaning to the side of depression in the earlier part, but giving place to strength and animation after the middle of the week. In the comparative dullness Of the earlier part of the week the spec uiative sentiment on the general outlook was vague and conflicting and the only movements of any importance were based on causes individual to the stocks af- fected. As a consequence prices of diff ferent stocks were often moving strongly in opposite directions, The contending fac tors were on the-side of depression the uncertain money outlook, due to the heavy requirements of foreign money markets for our gold and the agitation set on foot in the Northwestern states against the purchase of the Northern Se- eurities Company.
 The extensive resources of the do-
 
 the constant recuperation against the losses of the gold outflow. Although this outflow is abnormal at the season of heaviest merchandise exports and must be 'fto7 a large extent unforeseen, 1t is partly made good by the constant inflow of Australian gold at the Pacific coast This country's own production of gold at the rate of over $I000000 per month is also a part of the account and must go to explain the facility with which the needs of European. countries for the metal for money purposes are supplied
 The absence of gold exports today Is taken as assurance that the immediate requirements abroad are satisfied, as it was expected shipments would be neces- sary to meet American subscriptions due in London on December to the final installment of the British loan. These monthly installments have been dis bursed about as fast as they were paid and this final payment points to the con- clusion that the British government must soon be in the money market again as a heavy borrower to meet the continuing expenditure of military operations in South Africa.
 The bond market has been moderately active during the week, and investment issues have shown a firm tone. Specula- tive bonds have been irregular.
 United States 3s registered, the old and jew 4s and the 5's advanced h per cent ever the closing call of last week. The refunding 2s declined $.
 ! 9 New York Stock Market. ~-.-