The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-09-24
COPPER Has A FALL
NET Loss OF 3-4 POINTS FROM
THE Low GUESSING PRICE
OF SATURDAY
SPECTATORS TAfkE FRIGHT
Fear That the Powerful Support
Rereteforesa Factor Will Be
Withdrawn From the
Market.
SPECTATORS TAKE FRIGHT
srlas;nr,


Mon. Sat
Bar silver, New York ....5SM 5S1S
Call money New York.. 351k-4A1z Nominal
NEW YORK Sept s.-Amalgamated
Copper fell SA below the final price of
Saturday late In the day today, and after.
2-point rally on covering by room
shorts was running off rapidly again
before the close, the last price showing
net loss of ~ following the 81 loss
or Saturday. Anaconda the only one of
the controlling companies dealt in in ex-
change, fell an extreme 6A, and lost 5%
net. This comprised most of the market
for the day. There was some early re-
sistance in a few railroad stocks but it
was abandoned in face of the persistent
and heavy liquidation in Amalgamated
Copper, and the whole market turned
weak The net losses run between l and
over points in quite an extended list
OF important stocks. Such a violent de-
cline as that of AmaIgamated Copper is
bound to affect the stock market by SYM
pathy, whatever the conditions else
where. The Amalgamated Copper move
ment gained in influence by reason of
collateral differences drawn from it by
spectators. Although a highly manipu-
latiVe speciality, the stock has been more
favorably regarded than some other in
dusrlalS by reason Of the influential
character of the control of the company
The reduction in the dividend and the
collapse in the price have led to flying
rumors of shortcomings in management
and finances Of the same character re-
Gently disclosed by several of the minor
industrials and their blind pool methods
Also, the reduction of the Amalgamated
dividend, following On the conservative
refusal by partly identicat interests to
advance the st. Paul dividend, was taken
as a broad Indication of the indisposition
of Standard Oil capitalists to stimulate
a rise in prices. AS the fact has been
obvious that insiders We're advancing
the Morgan and Gould railroad proper
ties, Southern Railway, Erie and Man.
haitian continuing to advance even this
morning, Spectators were inclined to
draw the Inference, of renewed discord
among the great financial powers whose
quarrel precfpitated the Northern Pacific
corner. In addition, the government ifs
cal operations are not expected to yield
such resources to the money market as
was the case last week. while the heavy
movement of currency to the interior
continues. Another day of reyerseS to
the British arms in South Africa seemed
to bring home. to the London market
that they must face another government
loan at@an early period to meet the pro-
tracted war exenditureS there This
brings another element of doubt into
the problem of the amount of gold
which foreigners will part with for the
coming import movement to New York
The advance in the discount rate today
by the imperial bank of Germany was
another element The foreign exchange
rate hardened today, ending the talk of
further immediate engagements of gold.
The market closed weak
Railroad bonds were strong early but
became irregular as stocks turned weak
| Total sales, par value, S2,5T5,006 United
States new IS advanced " per cent on
the last call. \ n
STOCKS. 344l..t