The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-11-30

NEW YORK. Nov 29-Anialgamated
Copper was again an unSettling influence
in the whole stock market. The decline
being punctuated by only a few points OF
resistance and by no effective rally. The
resistance was not long maintained at
to sag again. Near the end of the day
the price touched Is. an extreme decline
of SIS, and closed only shade BETTER
There was no appearance OF any at
left to it's courses. The decentralization
in the raw copper market in London was
the impel1ing cause of the decline. There
were enormous sales there of spot cop
per and of futures resulting in a drop in
the price of the former of 95 per ton,
and in the latter of ga per ton.
The stocks of all copper securities
scored violent declines in foreign mar
kets and the price of metals slumped all
around in London. including pig tin, lead
and iron. Anaconda fell three points in
sympathy with Analgamated. Rumors
were very persistent of a determination
on the part of the combination to ADAM
don the attempt to sustain the price OF
raw copper but no official admission
could be secured on the subject.
A judicial decision adjudging director
of the company guilty Of contempt of
court for failure to testify IN the suit
against the absorption Of the Boston &
Montana possibly was a subsidiary cause
of the weakness. The Generalization of
in the general market until near the
close There were a number of strong
points developed. due to Individual
causes, and the market was inclined to
harden all around on the published fore
cast of favorable bank statement, but
the final drop in the copper stocks caused
the loss of the principal part of the gains
and carried prices a point or more below
last night for Union Pacific. Atehison,
Missouri Pacilc, New York Central and
Baltimore & Ono.
Sugar was at one time more tnan two
points higher, but lost practically all Of
the gains. Other gains of point or
over were shown at one time by United
States Steel stocks, several minor steel
stocks. ST. Paul. Wabash preferred,
Reading, Louisville. Manhattan and sew
eral of the mdustrials
The movement of cash from the interior
was clearly in favor of this center and
indicates a net gain by the banks on the
express movement of upward of a mill
lion dollars, which more than Offset the
losses on subtreasury operations. The
drafts against arrivals of gold at San
Francisco, which are on the way to the
amount of nearly Sd GOO, GOO, have not fig
ured in the weeks showing. The gov
ernment's revenue requirements upon the
money market show distinct relaXa-
ton, the months receipts thus far fall
ing over million below those of last
year, while the expenditures are several
hundred thousand dollars in excess of
those for the corresponding period last
year. Sterling exchange and Continental
exchange continued their upward course
today in spite of slightly easier money
in London owing to the completion of the
settlement. The price of gold advanced
at London today. The impression is grow
ing that further gold will go out next
week.
Central of Georgia income bonds were
strong for the three Issues, and Console
dated Tobacco As advanced on the de-
claration of dividend on Continental
Tobacco. The bond market generally
was irregular Total sales. par value.
81, 1870, coo. United States bonds were all
unchanged on the last cau.
Stocks.