The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-12-17

is not causing any alarm, it Is preventing
speculative activity. Small movements in
prices from day to day are all that occur
in the general list. On some days they
are advances and on others fractional de-
cIines. This morning the opening was at
g small concession from the closing prices
of yesterday, but there was soon q rails
which carried the level above yesterday S
best in many cases. There was little
buying by the public. however, and it
seemed evident that the advances were
caused by clique sustaining orders in New
York Central. St Paul, and one or two
other railway securities, and the teae-
lions.
II seems entirely probable that the tone
of the market viii be unimportant dur
ing the remainder of the year, or, at least,
until after Christmas.
COpper's Erratic Course.
The erratfc course of AmaIgamated Cop
per had one OF its most picturesque days
The stock dropped with apparently no
support to within a fraction OF 60 and
then began to advance sharply and before
noon had gained four points.
me street now 0SSiTS JlGE three 4oAI45
ago when AmaIgamated was selling only
q trife under par a director OF the COM
pany, at least one director, told his
friends that he had gone short Of the
stock and wouldGnot cover until it reached
So One Washington speculator Says that
he had a block of the stock at that time
and had small loss on it, and that ne
Immediately sold and took his loss He
says now that this loss is one Of the most
= 80 rFnff rG-
career.
This story and others somewhat similar
to il are SO direct and explicit that there
is no reason te doubt that some Of ths IN
s{ders at least knew Amalgamated Cooper
was to have a tremendous drop n price
The situation has an extremely unpleas-
ant look and whatever the condition Of
the copper trade may be the Street IS
coming around to the conclusion, almost
unanimously, that the people engineering
this deal are very tricky lot
Another Dividend Cut.
The news Of the copper trade was that
the London market both for the metal
and for Copper securities is demoraIized
with prices still further off and with no
relief in sight. The early cables report
the failure Of a north of England copper
firm for 81. $50 goo. In Boston also Copper
stocks are off badly, even the best Of
| them like Calumet and HecIa- The United
| Verde Company has cut the dividend on
its stock from s1-5o 10 70 cents month
Clique Supporting Orders.
The buying in New York Central. st.
Paul. Manhattan, and one or Two other
securities this morning had much the
same appearance as that of two weeks
- - -ho-- ad,-a,nn oncs,r-ad IN
these securities in an otherwise uninter-
esting market. This leads to the sug-
| gestion that the same Clique that engi-
neered the former advance has charge OF
/ this, and that its object is to make Ina
! general market strong, and overcome the
! influence of the break in Amalgamated
| Copper.
No especial news was heard of any OF
| these securities this morning, though the
| simultaneous advance of New York Cen
| traI and Manhattan caused a revival OF
| the talk of the advantages that will &C
| crue from the reciprocal traekage ar
| rangements of the two systems.
| Earnings of the Steel Trust.
The earnings of the United States Steel
| Company have been immense up to the
present time The statement is made on
inside authority that the net earnings for
| December will be at least as large as
those of last month 1t is predicted by
the same people that the January and
February showings viii be equally good
| The Steel securities were both strong
| this morning and it was said that Mr..
| Keene was the buyer of large blocks OF
both
An Atchiscn 0Gicer's Opinion
An officer of the Atchison is quoted as
saving that the earnings Of the company