The Washington times., 1901-10-15
THE MARKET VERY ERRAFIC
Price Movements Cover a Wide
Range of Fluctuations.
The Peculiar Statement Regarding
AmaIgnmated Copper Causes
General DccIine-Sugnr Refining
Breaks-RniIuay shares Active.

NEW YORK Oct. 1i.-Price movements
today were singularly irregular and often
eIratic. Thus, a stock of the character of
St. Paul common moved upward and
downward, over an exceedingly wide
range of fluctuations, without one single
new fact. or even any change in gossip
arising to account for the varying move
monts. Except in Amalgamated Copper,
where the extraordinary admissions of
notorious Boston speculator in regard to
his position in the stock excited some at
tontion, it was not possible to bring up
any new factors of importance bearing
upon particular stocks. The street at
large, it must be said, was disposed to
take with a very strong mental reserva-
tior the estimates of his losses in the
market made by the Boston operator in
question, and was also altogether indis-
posed to credit his statements regarding
his present holdings of Amalgamated Cop
per.
At the same time. in view of the always
enigmatic position of Amalgamated Cop
per, anything. credible or otherwise. tend
ing to throw light on its movements is
received at least with interest. Few in
telligent people would suppose that the
dominant spirits in the Amalgamated
Copper Company would be likely to seek
out the self-proclaimed unfortunate Bos-
ton speculator as fitting person in whom
TO confide their intentions regarding the
dividend upon the stock. but his utter
ances from time to time have given
standing to him in the imagination of the
average small speculator, that causes un-
due weight to attach to his statements.
4smalgamated Copper was quite weak in
the early dealings. perhaps because few
operators on margin cared to be asso-
ciated with an individual who, after con-
Tossing to stock market losses of the
triaing sum of 5000, 600. admits that he is
still the holder, and obviously on margin,
of 1900 shares of the stock. The plain
incredibility of such a position was soon
recognized, and the stock assumed a firm
er tone.
The movements elsewhere among the
so-caIled specialties were as irregular as
those OF the general market. The move
ments in the industrial quarter were COM
paratively limited. Sugar Refining broke
rather badly at the outset. but subse-
quently recovered good part of its loss
and the United States Steel issues were
dull and comparatively firm.
The speculative community has appar-
emily become convinced that the referees
decision in the pending hearings on the
franchise law viii affirm the consttu
sionality of the measure and will be gen.
trally favorable to the carrying out of
Gs provisions, and on this account, in
the early part of the day. the local trac-
lions were under good deal of pressure
ana brooklyn Rapid Transit showed espe-
ciai weakness. These stocks also, how
ever, shared in the improvements in the
remainder of the market
The bulk of the dealings continued in
the railway list, where St Paul was the
feature. Some of the early declines in
this quarter of the market were quite
severe, particularly in Missouri Pacific
Union Pacific, Atchisun common, Chicago
and. Alton and New York Central but
quick recoveries were made. Some ap-
pearanees of reviving interest in the So
called Junior Vanderbilt shares We're ap-
parent, but the net stock market results
were considerable
The operations for foreign account did
not appear to cut any figure in the days
dealings, although they amounted to Is 900
shares.