The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-12-01
Copper Tries to Make New Low
Records.
LARGE SALES ARE REPORTED
MARKET GIVES WAY WHEN TIE
BANK STATEMENT APPEARS.

AlaE4tL MS udl Il IEhlhlLg llAS EALONb
on the long list and an upward move
ment began here and there. These
were among the coalers, hard and soft,
Louisville & Manhattan. Sugar was
marked up over a point. Then Anal
gamated Copper resumed its recent
occupation Of making new low records
and touched 72lk in the course Of the
morning.
Very cirCumstantial assertions were
made that large sales of copper had
been contracted for on behalf of the
company at prices materially below
the list price. No official admission Of
tbs assertions could be secured. Bears
covered in the stock at the bottom and
It closed at 74ls, a net decline OF
poinc. Brooklyn TraLsit was another
point of acute weakness, with a loss
of nearly points on account OF the
decrease IN October net earnings and
by the increase in operating expenses.
The whole market gave way, led by
these two stocks, when the bank
statement appeared. The increase IN
loans and the consequent increase IN
deposits resulted in reducing the sur
plus over $1,000, 600 by reason Of ex-
banded margin of requirement. The
frmness of foreign exchange makes
further exports of gold next week in
creasingly prOblematiCal. The final
covering by room shorts made the
market closed active and firm
The movement or prices during the
week has been somewhat irregular and
hesitating and the promise of a vigor-
GUS upward movement has not been
realized There have been strong spots
In the list and only a few stocks have
suffered marked losses. but the mar
ket has shown the effect to some ex-
tent Of a recrudescence of uneasiness
over the possible developments in the
money market. There has been real
fzing here and there on good news ana
some selling by disappointed holders
over the failure OF expected good news
70 materialiZe The delayed meeting or
Vanderbilt railroad directors did not
bring the hoped for announcement OF
tn deal Of which there has oeeh
vague talk for weeks and some of the
members of the group suffered IN con-
sequence Others advanced further ana
the demand for New York Central has
been continued confident on all recess
siOns.
The violent AID erratic fluctuations
I'm Aualganated Copper have been an
other disturbing influence. This stock
rallied sharply on Monday morning on
the denial of last Saturdays reports
that papers were preparing against the
company in the attorney generaIs OF
fee in washington. but the opening
price on Monday proved TO be the nigh
est Of the week and heavy offerings OF
tta shares have been a failure Of the
marhct RumOTs of coming cut IN the
rrice of copper here and violent breaks
in the Drire of the metal in London
have accompanied the decline IN spite
of the denials of the intention TO reduce
prices in New York.
There have been frequent res orts OF
plans for formulating steps against
the great consolidation of capital IN
GLIDING the NortSern Securities com
many The pTOb-ble attitude 10 DC
taken bv. President Roosevelt on this
subject in his message to congress has
baen much canvassed It is anticipated
foregOne conclusion that agitation
on this subject VIII have a prominent
Mace in the proceedings Of the com
ing session Of congress.
stocks of industrial companies out
side Amalgamated have been little al
fected owing to counteracting tnflu-
ences. Thus Sugar has gone up on
the hope of a reduction or aoolluon
Of duties on raw sugar from CuDa anu
the new island possessions Inc GOWN
ward course in the foreign e-Icnahse
market which set in late last week
and led to renewed anxiety over pos-
sibIe gold exports.
1t appears that New York borrowed
in paris to some extent during the
week. which helped to ease the market
early in the week. The pressure for
cold AT Paris has obviously relaxed,
hut the price of gold IS advanced again
in london. If the Bank of England
desires to attract gold IN preparation
for the yearly settlements there Is
probability that it will be able to
do so.
There mas been a good demand for
bonds and a rather irregular price
movement. In United states bonds
The new As advanced i per cent IN the
last call.
Bond Quotations.
n ref Is reg 1855 Hook. Val as JOS
DO. coupon -..lGSss.L- & n u. 4s..-lVz-t
IT s. IS reg. .lJS14 Mex. Cent 4s.-- SS1s
y , S Is eO reg. 1881. NJ. & St L. As 1855
L. S. II. Is coup 1879 n, Il q l. 5s--11l17z
L. s. o. As reg -llzt2 NJ ~ q 1. - olz2
Z :. o. As COUPLES n L Cent. IS -tyS53s
&. s. IS reg 100 Isl GeneIdl oi2s '-LV55t
q s. IS COUP. .105is y. J. c. gen. 5s.l3l12
Atch. gen Is .i034 Nor rae 1s--.--L99S11f
Adjustment IS 1878 Nor. Pac. 3s..-.. l23s
r n %. 4s......-IO4 n & W. con As 12A
e. & o. 31zs..-.. $50 Read gen. IS y +
Conv. As .... 105 st. l.. & Iron N
aP Of g. g SD io3 St. c0 l. 8 s is57si
isl inc ........ Y St. L. 5. ". Is. 50
& o, 4lss.....l07l5 St. /. S. W. 2s 1915
e. & A Sis. S6l4 San Ant. & Ara.
c. B. & Q. n. IS IS Pass IS -------- Syet
g N. & St. P. So Pac. IS -...- 954
general Is III 50. Ry. IS ----.l-U5z
n. ". con- Tex. G. Pac. Is. 20
C. SCI r. i / & P. is.i65=5 " " IS =. ssR
e a. C. & st. Union Fac. As. 1864
T.. gen. IS .-..-l0i4 Conv. IS .-.... l063s
mic Term. IS. 9l& Wabash IS ...,..19
-oIo & So. As. S97s Wabash IS ......ll1
D. a. r. G. 4s...103 Debenture 3 o.. 60
Erie p. lien 4s.-10J4 West Shore 4s..1l2A
General A. .... 99lz ". & l.. E As. 9l7s
Fort w. & Den Wis. Cent. 4s...- S9s
city is -.-.--..10S5s con TOb. ss.... 81
Stock Quotations.
Atchison ........ 7q2s So. Pacific ...... 597s
Preferred .--100t2 So. Railway ..,. 3f7s
y & O.-..-....105 Preferred ....- 793lt
Preferred 1900 952f Tex. & Pac...... 40St
Gan. Pacific .-..1l3& T., St. l. & W. 10
Can. Southern o.. $50 Preferred ..... 32iz
shes. K Ohio. 4S5s Union Pacific ..103
-hic. & Alton. 30 Preferred --.-. 80
Preferred 1900 Lf4 W abash ......... 2l4s
=. T. K L.. 4ls4| Preferred ..... 49ls
Preferred ..... 74h ". & L. E.. Is
q & e. I...-....l5iftI Preferred ..... 3jiz
=. a. y. W.. 2f7s Wis central ---- 2tis
Preferred 4 8 Preferred ..s.. 42E
Preferred 3 o.. IS Adams EXpress190
Tsr n. VIII ANN Express .-03
. r. i. & P.-.-147 iU. S. Express. 30
c. T.. & t. 19lt Wells-Fargo ....1S9
Preferred ..... 361s ANAL Copper q. "A
=. c. G. & ST L. 9S ANA. c. & F.. %
Colo Southern. i448i Preferred ..-..-S5
list preferred. $50 ANN Lin. OIL. II
I'd eserred..- 2lifI Preferred 800. IS
Del & Hud...-.-lI3la ANN. S. & r. 4iik
o, 7. & W...---1i2 Preferred ..... 90
.. & r. G.-...--- Is Ana. Min Co. 30h
Preferred 600. 80 Brook. Rap T.. "a
Ere ~. $500 a Colo. 4. & L.. 92k
1st preferred. I3ft Con. Gas .,...... 2f9ir
Cd preferred. b.. 5Sia Sen. Electric 2761L (
- Yer MD 1Q9 .rlfroca Cnpar sosg