The age-herald., 1901-12-10
LIVELY SCRAMBLE IN STOCK MARKET I Amalgamated Copper Maintains Its Conspicuous Position BID UP TO T BY BEARS Loans Were Called In and Borrowers Bid Up the Rate of Interest
 Higher Than Seemed
 Necessary.

New York, December 9-There was lively shaking. out of speculative long accounts in stocks today, accompanied by threatening break in prices "hlcn caused some alarm during the carry hours of the day. In the afternoon liere was a sudden about-face in speculative ensued among the bears to cover thelr short contracts.
 Amalgamated copper continued to maintain it's conspicuous position, even with the increase in animation on the market today. The opening sales carried the stock back 11k points to 65 and this proved the low level of the day but the demand dropped off as often as the stock approached Saturdays level all though determined support was always offered as it neared 65. The bears be- came alarmed at the action of the stock and ir r. ilzt hour rushed the price up to ! IT frantic bidding against each u filc final price was but a shade loW,. The support offered to cop per at the opening break prompted sup porting orders elsewhere and the mar kct steadied momentarily, quite a list of important stocks rising fraction over Saturday With a rise in the call loan rate to seven per cent, however, specula- tors took fright and unloaded stocks Prices generally touched the low point of the day on the slump, although indl- viduai stocks were forced down under subsequent attacks carrying the whole market with them back to about the low level several times.
 St Paul was notably weak and Tell 29s under Saturday. Manhattan also was vigorously attacked and driven PA under Saturday. There was a good deal or calling in of loans but in seeking new accommodat tions borrowers bid the rate up upon themselves to higher rate than was necessary, judging from subsequent developments. The ruling rates were 5 per cent. or even 11a per cent. and there seemed ample supply at that figure. The perception of this fact emerged about the same time that Amalgamated Copper be- gan its rally The market began to move upward and gained momentum. There was slight reaction before the close, but the advance was renewed making the closing active and strong at about the best. The Gould railroads, Manhat- tan New York Central, Sugar, Pacific Mail and General Electric were all promi- nent in the rally and the day closed with net gains except in few instances. The activity in the call loan market was re- fected in the sharp drop in foreign ex- change both sterling and continental, which precluded all idea of gold exports for the present. There was some appre- hension of pressue for gold at Berlin this week, but money was reported easy there today and sterling exchange hardened in that market. Money was also easier in that market, and further demand from Paris is not feared at present. as Paris bankers are again buying discounts in London. There were no deposits of cur rency at the sub-treasury for transfer to the interior today, but the speculative activity continued in the grain and cot ton markets. The sub-treasury is also taking up large sums on the government surplus, which is running large. It was very obvious, however that anxiety over money on the part of the speculators were much relieved.
 Railroad bonds weakened in sympathy with stocks, but became irregular later.
 Wabash debentures gained nearly per cent Total sales, par value, $5,1S5000.
 United States bonds were all unchanged on the last call.