The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-11-30
STOCKS AND BONDS.

| New York, Nov. 29.-Amalgamated Cop
per was again an unsettling influence in
the whole stock market today. It's course
was downward, the decline being punctu-
ated by only few points OF resistance
and by no effective rally. The resistance
was not long maintained at any time, and
the price was soon aIiOwed 70 sag again
Near the end OF the day the price touched
-, an extreme decline of IS, and closed
only a shade better. There was no ap-
pearancs OF any attempt 20 support the
stock, and it was left to its own re-
sources. The Generalization in the raw
copper market in London was the impel-
ling cause OF the decline. There were
enormous sales there OF spot copper and
Of futures resulting in a drop in the price
of the former of ; pounds per ton and
the latter Of pounds per ton. The stocks
OF all Copper securities scored violent
declines in foreign markets, and the
prices of metals slumped all around IN
London, including pig iron, lead and iron.
Anaconda fell points IN sytnT aLhy with
Amalgamated. Rumors were very per
sstent Of a determination on the part
Of the company TO abandon the attempt
TO sustain the price OF spot copper but
no Official admission could be secured On
the subject. A judicial decision adjudg-
ing a director OF the company guilty Of
contempt Of court for failure to testify
in the suit against the absorption of tic
Boston and Montana WAS possibly a sub
sidiary cause of the weakness. The de-
moralization Of AmalSamared Was with
out notable effect in the general market
until near the close. There were a num-
Der of strong points developed due TO
individual causes, and the market was in
clined to harden all around on the pub
lished forecast of a favorable bank state
ment, but the final drop in the Copper
stocks caused the loss of the principal
part of the gains and carried prices a
point or more below last night for
Union Pacific. AtchisOn, Missouri Pacific.
New York Central. and Baltimore and
Ohio. Sugar was at one time more than
. points higher, but lost practically all
of the gain. other gains Of point or
over were shown at one time by the
United States steel stocks, several minor
Steel stocks, St Paul. Wabash preferred,
Reading. Louisville, Manhattan and sew
eral of the industrials. The Pacific coast
stocks were all strong at advances of .
TO points. Owing TO the Thanksgiving
holiday the figures furnished by the
banks of cash changes show results only
up to Wednesday. But the movement of
cash from the interior was clearly in IA
vor of this center, and indicate a net
gain by the banks on the express move
which more than offsets the losses on
sub-treasury operations. The drafts
against arrivals of gold at San Francisco,
which are on the way 10 the amount OF
nearly 100000. have not figured in the
weeks showing. The governments reve-
nue. requirements upon the money mar
ket show distinct relaxation, the
months receipts thus far falling over a
million below those OF last year, while
the expenditures are several hundred
thousand thousands in excess of those
for the corresponding period of last year.
Sterling exchange and continental ex-
change continued their upward course to-
day in spite Of slightly easier money in
London on account of the contemplation
of the settlement. The price Of gold ad-
vanced in London today. The impression
is growing that gold viii go out next
week. Central Georgia income bonds
were strong for the three issues and
Consolidated fours advanced L. The
bond market generally was irregular
Total sales. par value. 81. l9tgo0 United
States bonds were all unchanged on the
last call.
Closing prices Of stocks were a 6 follows.