New-York tribune., 1901-12-15
BONDS.
THE DAYS OPERATIONS IN STOCKS.

A further decline in Amalgamated Copper
stock caused selling throughout the list in the
early dealings. but before the close losses were
generally recovered with last prices at net gains
in the greater number of issues Strength IN
the last hour was due to the bank statement
which was more favorable than Fridays esu-
mates suggested The cut in the selling price
Of copper was effective in attracting further
liquidation in Analgamated shares and de-
cline for the day Of l point. This stock reached
the lowest price ever recorded at GA, but its
last ouotation was at 651a. Speculative Wall
Street apparently accepts the reduction in cop
roer prices as a bear argument on copper shares'
on the theory that a big copper trade war VIII
develcp While this opinion is held py specu-
1a+ors p common sense view of the matter forces
the conclusion in many quarters that the cut IN
prices reflects wisdom on the part OF the Anal
samated company. and tardy recognition OF
trade conditions. The adjustment Of the mar
l,e+ nrice to the real situation Of the trade
should have been made many weeks ago, espe-
ciaIlv as quotations abroad were reduced to q
,,oint which made it cheaper to import copper
from Europe than to buy in the home market
Tine consumption of copper in this country Is
heavy hut when it is recalled that the con-
sumption abroad has contracted about % per
cent from a year ago. it is easy 10 understand
the necessity for a price reduction here
Wan Street fears big copper war. but well
Informed men in the trade are not alarmed over
4bA outlook Indeed. competent trade authorl-
Ties saw that they now feel easier over the cop
7,er situation than they have felt in many weeks
mast The copper companies doubtless are carry
3ng a large amount of copper. owing TO the re-
4usal of manufacturers TO buy except from hand
70 mouth but the chances are that the reduction
in nrices will cause rapid increase in buying
orders IN this countrv although trade depres-
sion in Furope may prevent any gain for some
time in copper exports The movement Of Anal
gsr-ated Conner stock may influence the general
securities markets this week It is well to note
however that in yesterdays trading stocks
showed a disposition after the initial dealings
10 cut loose from Amalgamated, moving toward toward
e higher level on good demand from p. pIoLes
sional traders and substantial market lrltefesIS-
In the recovery IN the last hour conspicuous
strength was shown by NeW-A orh CeHlI al
PAM Union Pacific, Louisville and NashNiIle,
Sugar Refining and the wabash ISSUES me .It
named shares were advanced on reports @ thdl
inportant developments were penang a4eCCtile
the future of the company strength IN Coio Li
RADIO Fuel and Iron was due 10 Qei!dls t ol -
4ion in The board Of directors. Goulo latel -, >
bo,1ehr Manhattan and Missouri Paclnc. Ine
neaTy liquidation in stocks in the last Meeh
vas reflected in the bank statement py d oe-
crease in loans Of S11.1IS,1OO, whlcn SeINed 80
- y, erear mart a loss in cash of So.luZooV
&c an influence on reserve above lesdl lequiI
1rants The last named item decnned ohIy
81 152 ESQ and now stands at So.4oo1-.l 9S
Sc 325 3I5 at this time year aso anu : t,o:.5
% ~ I-ssr before Loans Of the Assoclateo
Ranks show q gain as compared Win Lilo u - =!
1asr wear of So 613.90 Further contractlo ~
loans will doubtless be mace this "ten, e lii Iii
+bere are good reasons TO believe that there Nlii
he no acute disturbance in the money mar -; .
The usual weekly table OF price chahses ioi 1
active stocks follows: