The Washington times., 1901-09-25

or more all over the list. The weakness of
Amalgamated Copper las the most con-
spicuous feature of the decline, and, as
far as could be seen, caused much OF tne
selling in other directions There was
pretty general opinioneat this time that
the break would extend further, and that
the market might see the worst tumble
| of recent weeks. Soon after the opening,
however, The selling became less persist
ent, and later in the day the orders TO
sell were outnunbered by the buying
orders, and there was a recovery TO
level somewhat better on the average
than that at the close on the day before.
Meanwhile business became extremely
dull.
The optimistic view of this condition
of things that the market was over
sold ard that the decline is over and
will be succeeded by another good ad-
vance. 1t was pointed ont that the mar
ket had acted very much as 1t has done
heretofore during recent months on a
break. As soon as the professional sell
ing has stopped, in other words, the de-
cline has stopped, or so said the bulls at
least. The argument from this Is that
no one wishes to sell stocks at the present
level, neither the public nor the big peo-
pie.
The other view taken of The situation is
that the Standard Oil people arc the SELL
crs of the market, and that they believe
it will go much lower People holding
this view said that the temporary rally
at tDt Close was simply uue 10
the covering of shorts to take profits, and
that there will be a rel ewal of the at
tack in all probability tlIis morning and
later in the week.
The gossip of the street. aside from the
Copper talk. was not important. The di-
rectors of the United States Steel Com
pany will hold meeting next Tuesday to
take up the question of dividends. III is
generally believed that the dividends on
both classes of stock will be declared.
The outlook for business for the coming
six months is excellent. and at the same
time 1t is said that during the strike the
dividend on the common stock was earned
This is a very good showing, II II was
actually made. The Steel securities held
their own well during the break in the
market
A meeting of the Tennessee Coal and
Iron people was scheduled for yesterday
afternoon. 1t was not thought that the
directors would take any action on the
question of a dividend for the stock
Opinions regarding the stock are various,
but on the whole the street is perhaps in
clined to optimism regarding 1t. There
is the good chance that the company viii
he bought by the Steel Trust and there
is the understanding that the earnings of
the past few months have shown a good
increase. To be sure there is no great
probability of a dividend at present on
account of the large expenditures that are
said to have been planned by Mr.. Bacon.
Manhattan was again strong yesterday
afternoon. making the best rally the
list. 1t was thought at one time that the
Gould interests had been buying the stock
heavily on Monday and that they had
given up their bull campaign yesterday
for the present If they did give it up
the advance yesterday afternoon was
fairly good evidence that they reconsd-
cred their withdrawal The buying of the
stock at any rate was of the same char
acter as that of Monday. The earnings
yh.a 1.Nr any a re "a
for the future, say its friends, is excel
lent.