The age-herald., 1901-09-24
PRICES FELL OFF THE ENTIRE SESSION Stock Market Was Under Heavy Liquidation and Weak
 
 WAS HIGHLY MANIPULATED The Net Losses Ran Between 1Ia and Over 2 Points In Quite an Ex- tended List of Import
 ant Stocks.
WAS HIGHLY MANIPULATED

New York, September 23.-Amalgamated Copper fell sA below the final prices or Saturday late in the day today ana aIter a 2-point rally on covering by room shorts was running off rapidly again be- fore the close, the last price showing a net loss of 7% following 64 loss of Satur- day Anaconda. the only one of the con trolled companies dealt in on the ex- change fell an extreme 6h and lost 51s net. This comprised most of the market for the day. There was some early re- sistanoe in a few railroad stocks, but 1t was abandoned in face of the persis- tent and heavy liquidation in Amalga- mated Copper and the whole market turned weak The net losses run between 1h and over points in quite an extend ed list of important stocks. Such vio- lent decline as that of Amalgamated Cop per is bound to affect the stock market by sympathy, whatever the conditions elsewhere The Amalgamated Copper movement gained In influence by reason of collateral inferences drawn from 1t by spectators. Although a highly manipu- Iative speciality the stock has been more favorably regarded than some other in-
  character of the control of the company. The reduction in the dividend and the collapse In the price have led to flying rumors of short coming in management and financiers of the same character re- gently disclosed by several ot the minor industrial companies. The effect was 10 engender distrust of all the industrials and their blind pool methods.
 Also the reduction of the Amalgama1eu dividend following upon the conservative refusal by partly identical interests 10 advance the St. Paul dividend was taken as broad indication of the indisposi- ton of Standard oil capitalists to stimu- late a rise in prices. AS the fact has been obvious that insiders were advancing the Morgan railroad properties and the Gould properties, Southern Railway, Erie and Manhattan continuing an ad- vance even this morning spectators were Inclined to draw an inference Of renewed discord among the great financial pow CTS whose quarrels precipitated the Northern Pacific corner. In addition the government fiscal operations are not ex- pected to yield such resources to the money market as was the case last week, while the heavy movement of cur rency to the interior continues. Anoth- CT day of reverses to the British armies In South Africa seemed to bring home to the London market that they must face another government loan at an early period to meet the protracted war expen- ditures there. This brings another ele- ment of doubt into the problem of the amount of gold which foreigners will part with for the coming import movement to New York. The advance in the dis count rate today by the Imperial Bank of Germany was another element. The foreign exchange rate hardened today caused by talk of further immediate en- agreements of gold The market closed weak.
 Railroad bonds were strong but became irregular as stocks turned weak. Total sales, par value $2,575,0o0. United States new As advanced # per cent on the last call
 New York Stock Market.
 By Private Wire to Murphy & Co.