Evening star., 1901-11-25
Hard Drive at Amalgamated Copper
Causes Drop in Price.
WHOLE INDUSTRIAL LIST WEAK
Some Good Buying of the Goa
Roads Stocks.
GENERAL MARKET REPORTS

NEW YORK, November 25-The opening
of today's stock market was something of a
disappointment In view of the fact that the
inclination to take profits was pronounced
in certain quarters. London prices were
around parity, but the business from that
center was not significant in volume.
The Traction shares were first to yield
to the mixed selling, but at the low prices
some rather good support was reflected.
Union Pacific was rather heavy as the
result OF misgiyings as 10 the outcome OF
the Northwestern tangle. All sorts of hid
den schemes are suggested in the latter
connection. and one particularly fanciful
View is that the Hartman party has been
giNen its head in a project that the Morgan
nm faction knew would not stand legal
rest traders are working out the prob
lens along the lines which appeal best 20
the market position.
Meanwhile those in charge Of the matter
show no signs of apprehension. As q result
OF this confidence of the inside interests
traders undertook to revive the movement
In st. Paul, bidding the stock up sharply in
the hope OF forcing in a considerable short
interest. At the advance the selling was
much better than the buying.
Vanderbilt issues were strong under the
leadership Of New York Central and gossip
was rife as to the probable early announce
ment OF the long-delayed plan for bringing
all the properties included under this head
into closer relationship.
Reading shares were strong under a con-
tinuation OF last weeks big demand, but
there was no news upon which to base the
movement. The common stock made a new
high record, and there was the usual talk
OF dividend on the second preferred. Eries
were tr1f1e more active and held well dur
ing the morning in spite of the irregularity
elsewhere.
The buying of Pennsylvania was called
good, and there seemed to be a manipiI-
latfVe advance In the soft-coal roads Earn
ings are good In the latter instance and
aggressive buying by few brokers forces
substantial advances in prices. The buy
ing OF the 500 issues was resumed, with
the result that record prices were made
for both the common and preferred stock.
Amalgamated Copper was the real fca-
ture OF the day and was finally instru-
mental In forcing a general reaction i'm all
parts of the list. The stock named was
opened at an advance from the low point
of Saturday and small short interest was
forced to cover
At the advance the selling came from
good sources, and the prices broke easily
for decline Of per cent from the best
level OF the morning. Fears OF an attack
by the Attorney General were said TO be
responsible for the selling, and there were
also rumors that a cut in the price OF the
raw material was contemplated.
Whatever may be the cause of the de-
cline. 1t would seem that the warning in
terests are not yet ready to come to terms
The persistent selling OF Copper aroused
fears of an attack on trusts generally dur
ing the coming winter. and with tie pres
identiai message only a week off the in
dustrial group was found to be particularly
sensitive. Todays market for call loans
showed an easier condition and a slight
concession in exchange rates was also an
encouraging factor.