The age-herald., 1901-12-20
COPPER SHOOK UP THE WHOLE MARKET For Erratic Variations All Re- cords Were Cast Aside OTHER STOCKS LEFT ALONE Story Got AHoat That Full 1Ia Per Cent Was to Be Declared and
 Paid in srlp, and the
 Fun Began.

New York, December 19.-Amalgamated for the cratic character of its fiuctua- lions today. So great was the uncertain ty over the action to be taken by the directors on the dividend and the conse- uuent effort on the market that dealings in other stock broke several times dur ing the morning going down immediately after the operfing to 657s which wiped out the sudden gain at the close yester- day. From that point 1t began an ir- regular recovery with frequent halts and reactions.
 A story got af1oat that the full 1h per cent dividend was to be declared and paid in script for such proportion as was represented by the dividends of subsidia- ry companies which have been tied up by injunction. The outstanding short interest became frightened at this rumor and bought to cover. The stock touch ed 691k before the directors had assem- bled at the dividend meeting. It was only few minutes after the hour of as- sembling when the price slumped to 641k under a torrent of offers. The re- bound was to e711 and the stock then tended to equilibrium and closed with net loss of 5s. The action on the divi- dend had not been announced when the market closed.
 The further cut in price of new cop per was not unexpected and there are predictions that the level has not yet 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 leading stocks when Amalgamated copper commenced It's wild movement in the last half hour, Very few stocks attained a movement ol as much as point in either direction from last nights close. The tone of the coalers was good and there was some talk of a coming advance in the price of anthracite.
 The principal movements were in the specialtes. There was a good demand for gas and the pressed steel car stocks, which rallied sharply from their recent weakness. United States rubber and the rubber goods stocks were weakened by the reports of the formation of a large corporation to compete in that trade. mere was no apparent unedSlHeSS over the money situation, although the sub treasury continues to drain supplies from the banks. There was a deposit of $350,- 900 at the sub-treasury for transfer to New Orleans today. The sterling exchange market closed weak after degree of firmness during the morning due to the drmness of the London money markets.
 The assumption Is general that the out ward movement of gold for the year has come to an end. The reports of extraor- dinary level of prosperity maintained in the iron trade and the weekly gross earn ings of railroads which came to hand encouraged the firm holding of stocks The cut in sugar and signs of renewed disturbance in that trade were without notable effect The market closed irreg- ular and very dull.
 Railroad bonds were dull and steady Total sales, par value, $2145,0O0 United States 3s coupon and the 5s coupon ad- vanced A, and the old As coupon declined E on the last call.
 New York Stock Market.
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