The Washington times., 1901-09-19
THE MARKET IRREGULAR.
Conspicuous Strength Shown by
the Junior Vanderbilis.
Severe Decline in An,nignmnted
Copper-Busincss for Foreign Ac-
count in SmniI EoIEmr-suEar
Refining a:ses-steeI Issues Heavy

NEW YORK, Sept, 1S.-There was
further contraction IN dealings in the
stock ma rltet today. and the marSet at
large presented the same indefinite ten
dency shown yesterday. The so-called
Junior Vanderbilt issues We're couspicu-
ously strdnsy notably for the Nickel Plate
shares and lake Erie and Western The
strength shown by these stocks extend
ed to the securities of other lines in the
same general locality and was reflected
in material advances in Chicago, Indian
apolis and Louisville and Peoria and
Eastern. Chicago. Cincinnati, Cleveland
and st Louis. on the other hand whiie
firm was comparatively dull
There was no other explanation of the
strength of the Junior Vanderbilt shares,
apart from the influence of the rumors
which continued in circulation regarding
the scheme by which the control of the
Vanderbilt properties west of Buffalo was
to be acquired by q proprietary company
of a nature similar to the Pennsylvania.
While the striking advances were taxi
ing place in these stocks. the remainder,
as already noted, backed and filled in a
rather erratic fashion. st. Paul and I'm
ion Pacific at times showed aggressive
strength, but frequent reactions occurred
in the dealings in these stocks, as in
the remainder of the market. The advance
IN the Western Vanderbilt shares was
attended by sympathetic rises in New
York Central and Canada Southern, but
the dealings in both instances were com
paratively small Other firm features of
the railway list were Norfolk and West
ern, Southern Railway. and Ontario and
Western. The dealings in the local trac-
ton quarter were exceedingly limited.
Among the specialties, Amalgamated
Copper was conspicuous in a very Sc
we're decline, which was attended by ru-
mors that the extra dividend of Il
per cent which has heretofore been de-
clared quarterly, would be omitted on
Friday, when the directors meet for ac-
ton on the dividend. 1t was also stated
that the business of the company was
suffering from an accumulation of stocks
on hand, but the dividend rumors appear
cd to be the main explanation OF the de-
ciied weakness in Amaigamated Copper
The course of the stock appeared to
carry little weight in holding in check
the remainder of the market. There We're
few movements of interest, otherwise,
among the specialties. Pacific Mail was
strong and in the early dealings Colora-
do Fuel and Iron, ard Tennessee Coal and
Iron advanced smartly. but neither stock
retained the full measure of Its improve
ment
In the Industrial quarter sharp ad-
vance in Sugar made that STOCK the con-
spicucus feature, and the movement in
question appeared to be based upon the
result Of todays meeting of the stock
holders, at which the proposed increase of
SIS coo in the stock of the company was
ratified. The United States Steel issues
were dull and comparatively heavy.
Londcn was again "a factor of only
small Importance in the local market.
Small and IRE egUlar price changes were
furnished from that quarter. and the
dealings here for foreign account were
not much in excess of 20.00o shares, the
operations for foreign account being near
ly altogether on the selling side.
In the early dealings. houses with West
ern connections were aggressive sellers of
the market, their operations being based
apparently upon the reports of frosts
throughout the corn and wheat belts
Little alteration occurred in the foreign
exchange market and the volume of
business there was exceedingly light. AS
yet no gold appears to have been engaged
for import. but 1t is believed the first
takings will be announced before the close
of the week.