The Montgomery advertiser., 1901-12-20
WALL STREET REVIEW AMALGAMATED COPPER PUR-
 SUES ERRATIC COURSE. Dealings in Other Stocks Were Prac- tically Suspended-Wild Move
 ments in the Last Half ,- Hour of Session.

NEW YORK, Dec. Ie-Amalgamated Cop per almost broke Stock Exchange records for So great the uncertainty over the action to be taken by the directors on the dividend ket that dealings in other stocks than copper were practically suspended The stock broke several times during the morning going down immediately after the opening to 63ss, which wiped out the sudden gain at the close yester- day. From that point it began an irregular recovery with frequent hats and reactions A story got afloat that the full Ils per cent. dividend to be declared, to be passed in scrip for such proportion as was represented which have been tied up by injunction The outstanding short interest became frightened at this rumor and bought to cover The stock touched 6eh before the directors had assem- bled at the dividend meeting It was only when the price slumped to 64h under a tor rent of offers The rebound was to STA and the stock then tended to % equilibrium ana ana dividend had not been announced when the market closed. The further cut in the price of new copper not unexpected and there are predictions that the level has not been reached to attract large buying orders. The
 announcement of the cut did not interrupt the upward course of Amalgamated Copper,
 which was then in progress. The undertone
 of the general market was firm, but there
 were sharp declines in several large stocks when the cut in copper was announced and also when Amalgamated Copper commenced its wild movement in the last half hour. Very few stocks attained movement of much as point in ether direction from last nights 
 there was some talk of a coming advance in
 the price of anthracite. The principal move
 ment was in the specialties There was good
 demand for Peoples Gas and the Pressed Steel
 Car stocks rallied sharply from their recent
 weakness. United States Rubber and the
 rubber goods stocks weakened by the
 reports of the formation of a large corpora
 tion to compete in that trade. There was no apparent uneasiness the money situation, although the suh-treasury continues to drain supplies from the banks. There was a de- posit of S35o. 900 at the sub-treasury for transfer to New Orleans today. The sterling exchange market closed weak after a degree | hrmness of the London money markets. The | assumption is general that the outward, move ment of gold for the yearf has como to an | end. The reports of extraordinary level of prosperity maintained in the ion trade end | the weekly gross earnings If railroads which | came to hand encouraged the firm holding Lf | stocks The cut in sugar and s'gns nf res
 out notable effect. The market closed iIrtEu- | lar and very dull
 Railroad bonds were 6u and steady. Total | sales (par value), S2. i45 poo. United States | 3s coupon and the 5's coupon advanced ;4 and | the old As coupon declined is on the last all.
 Money and Exchange. NEW YORK, Dec. l9.-Money on call firm | at 5ibQ6 per cent. closing bid and asked, 5 | @6 per cent
 Prime mercantile paper 5d5ls per cent. l Sterling exchange weak with actual business | in bankers bills at 4.96& for demand and 493h for SO days posted rates, ASA and 4.S79.
 Commercial bills, 4e2&q4. s3h Bar silver. 55Ss Mexican dollars, ABA. | Government bonds. irregular; State bonds, I KVaa roft hnnd ste