The Washington times., 1901-12-18
Cnu Money Rates Down.

CnII Money Rates Down.
The money situation has developed much
as was expected. Call loan rates yester-
day were down 10 per cent during the
afternoon. and they were at no time
higher than per cent.
The Secretary of the Treasury paid over
to the New York banks yesterday the
first 81 900 600 Of the advance interest
money on the Government boI.ds. At the
same time. the movement Of money from
the interior has been better, and the out
ward movement not so heavy.
The monetary situation is affected ia
vorably by the better situation in London,
where the South African conditions are
making investors more hopeful than they
have been for some time past. London
was a buyer of American securities yes
terday TO the extent of 10000 shares, al
though the opening there was weak
Copper Facts and Gossip.
The news and gossip of the day. aside
from the monetary situation, was still
largely confined to copper. The United
Verde Company has reduced its dividend
from $1.75 to 70 cents a month, and il
is generally concluded that this is direct
condition of the copper market. At the
same time from all over yesterday there
was talk OF decentralization both in the
trade and in the copper securities. In Bos-
ton Calumet and Hecla. one of the high-
est t-priced copper stocks. and considered
one of the best in the country. has been
breaking almost as fast as Amalgamated.
II sold at $50 yesterday against go the
day before, a drop OF 30 points Only
few months ago IL was selling at 40.
The London copper securities WIRE also
weak yesterday. II was in response 10
these unpleasant things that Amalgamat-
ed went off yesterday TO another low
price, 60iR.
More cheerful news was heard later
in the day. The price of the metal in
London advanced sharply and il vas said
by some of the authorities on this side
that the bear news has been given too
much prominence. Amalgamsted advanced
even faster than 1t had declined for
time, getting above &c. a gain Of almost
1 points. 1t sold of somewhat during
the afternoon, but closed with a good
net gain.
Insiders Said stock Would Break.
These are the facts, but the theories
are quite as interesting One of these
is that the insiders In smalgamated have
been preparing for a elimination in the
break in copper with the dividend an
nouncement tomorrow. 1t is even said
that three months ago the insiders ex-
pected, or rather knew, that the stock
would be broken in the way IL has. and
not only went short of the stock, but
advised their best friends 10 do So also.
This story suggests in a very strong
way that the Standard Oil people have
been fully aware Of all that was 10 hap
pen in advance. II also makes their
conduct and that OF Mr.. Lawson, If he
has been acting as their broker, appear
very yellow"
And, of course, too, there is the strong
suggestion in all this that the entire
slump" in the copper trade has been a
manufactured article, cooked up by the
Rockefellers and the Rothschilds In order
TO further some of their plans for the
further concentration of the business.
Cut In Price of Lead.
The cut in the price of lead by the
"smelters" Company yesterday bears
somewhat of resemblance to the Anal
gamated Copper business. The price was
cut from 4.37i9 cents to cents.
The directors of the company declared
the regular dividend on their preferred
stock yesterday. The "Smelters" securi-
ties went off in the morning rather sharp
ly, but later in the day recovered their
loss.
Vanderbilt f.Deal" Rumors.
The movement liz the high-priced rail-
way securities was strong and attracted
much attention. AS has been said, how
ever a was supposed to be largely the
result of manipulation, and for this rea
son did not, perhaps. have so much
weight as might have been expected.
The ole rumor that there is a Wander
bilt deal on foot was revived during the
day. the story this time taking the form
that there is TO be a securities COM
pany." after the form of the Northern
Securities Company. denial was wired
through the street in the afternoon from
what seemed to be a good source. II was
said that there would be no attempt TO
form any such Vanderbilt company until
the question of the legality of the West
ern combination is tested and proven.
No Rock Island stock Issue.
Rock Island was jumped up rather
sharply after the opening. There has
been rumor that the Moores, who are
now supposed TO be in control OF the
company, Intended TO increase the capital
stock to double its present amount aEl
advance the dividend rate to per cent
on the entire stock This story is denied
by officers Of the company.
Another story has been that the com
pany has secured control OF the Mexican
National Company. This rumor 10 denied