New-York tribune., 1901-11-27
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Great irreguIarity marked the course Of stock
market trading yesterday The volume Of bust
ness showed material falling off from the pre-
ceding day, and outside OF the more popular
issues dealings were comparatively light The
movement OF values confined TO narrow
fluctuations. closing prices presenting an equal
number of net gains and losses AS a rule. final
changes were confined to fractions The heavi-
fest operations were in Amalgamated Copper.
ST Paul Manhattan New-York Central. Penn
svlvania Reading and Union Pacific. In these
shares early strength was followed by reactions
before the close In the last five minutes OF
trading the whole market was under the inhu-
ence OF bear pressure.
Trading in Amelgamated Copper was heavier
than in any other stock on the list. but the
.7-a, -rice change in this issue showed differ
ence from Mondays last quotation In the day.
however the stock made maximum decline of
two points. recovering the loss before the close.
The Street is totally afs sea regarding the posi-
tjor Of the Amalgamated Copper Company The
-enorts from Washington on Saturday intimat-
,ne that an official investigation OF the company
would be made nothing more than stock
market canards. While so much difference or
opinion exists regarding the Amalgamated Cop
r,er Company and its prospects. the chances are
that public traders will not deal heavily In the
stock The unfortunate market course Of this
should influence investors IN lnelT Oedl-
inps in sound and we'll known industrial issues.
T2,1yinc- of American Car and Foundry shares,
international Paper preferred. international
Pump and Pressed Steel Car preferred in the
last few days has been for the account OF people
who recognize the great value of these secur-
ities All Of the stocks named are selling many
points below their intrinsic worth and in the
course Of the next few months they should
reach a much higher quotation level The COM
parlies which these securities represent are con-
servatively managed. and the earnings warrant
the expectation of dividends even in years Of
business depression In this connection the
shares OF the American Locomotive Comp any
may also be mentioned.
In the high priced railway shares New York
Central and Pennsylvania were again bought by
substantial market interests. The adjournment
Of the New-York Central directors meeting
without any public announcement regarding
current reports affecting the Vanderbilt proper
ties caused some selling in the Vanderbilt issues
On the decline which amounted to only point,
q good demand developed. and at the close the
stock showed no net change from Mondays last
quotation. Pennsylvania closed fraction lower
In the greater part Of the day the local traction
shares exhibited decided strength. Manhattan
showing net gain of nearly two points for the
dav while METROPOLITAN and Brooklyn Rapid
Transit made fractional net advances Among
the low priced railway shares Southern Railway
common and Colorado and Southern common
were in demand from a good class Of buyers. II
is generally believed that the last named stock
is being accumulated by prominent railway in
terests.
The money market showed no important
change. but in the sterling exchange market
rates were higher In Paris exchange on Lon
don made a sharp decline but in London the
price of bar gold was higher The developments
in the foreign exchange market were totally un-
expected and they may lead to further exports
Of gold. It is not thought likely. however. that
further shipments. If made, will reach important
figures