The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-11-27
Jtocks. Bonds and Money

NEW YORK, Nov. 26.-Amalgated Cop
per went through an exceedingly varied
course of movements today and finished
unchanged from last night. The course
of this stock was pretty accurate index
of the general market throughout The
days net changes are seen to be very
small, as rule, and considerably mix
ed, although the extreme range of prices
was considerable. A notable fact in con-
nection with the constantly changing
course of prices was the consistency of
the movements Some times the course
of the market would vary distinctly three
times within an hour, traverSlng each
time an average range of nearly a point
Yet the whole list moved pretty much IN
unison, there being no apparent conflict
in the tendency of the prominent active
stocks. The opening dealings reflected a
distinct effort at a bull demonstration for
an advance, the trunk line stocks being
selected for leadership. Analgamated
Copper also was supported in the open
ing dealings. Weakness, which quickly
developed in this stock, was reflected IN
the whole market and so with it's suisse
quent changes. The stock fell by sue
cessive changes and very uncertainty to
was an entire lack of news TO account
for the movements. The early weakness
was in the face of permission from
court to the Boston G. Montana to pay
the dividend on that stock under bond.
The Withholding of these dividends was
officially offered as cause for the re-
duction of the dividend on Amalgamated
copper. The recovery on the stock was
in spite of a sharp break in the price OF
raw copper in London following some
recent speculative buying in that market
A striking feature of the check to the
recent advancing tendency of the mar
ket was the decided decrease in activity
Today's transactions were about $4,000
shares less than those of yesterday. The
unsettling influence of the apparent de-
moraliZation in Amalgamated Copper
Il.
recovery in foreign exchange which awak-
ened some renewed questioning over the
resources of the money market for the
remainder of the year. The leSSened
supply is doubtless due to the completion
of realization on what might be called
speculative purchases of exchange, which
have been recently made. But a reac-
ton in steri.ng exchange in Paris and
the rise in discount rates and in the price
of gold in London indicated the possibil-
ity of a resumption of the conditions
which caused the recent outflow of gold.
Thursday of this week is pay day m
Next week, on Dec. 5, the final Install
ment is due on the British loan subscrip-
ton. During December a heavy outflow
of cash is expected from the Bank of
England to the country and the British
government disbursements just at pres
ent have fallen very light. 1t is very
obvious that the Bank of England, with
a view to these future requirements, is
Taking measures TO sustain the value Oh
money in London in order to guard that
market against the pressure from the
continent. The development of such a
pressure, therefore. would be DETECTED
Inevitably on New York. as was the case
recently. An advance of points in Gen
eral Electric. the strength Of Sugar and
Manhattan and the heaviness of Balti-
more & Ohio and st. Louis & San Fran
cisco were notable.
Railroad bonds were irregular. Total
sales, par value, So, 725, 900. United States
bonds were all unchanged on the last
call.