The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-12-08
FRANTIC MOVE or COPPER
Value Of AmaIgamated Shares Has
Shrunk $50,0O0,0OO
CAUSE OF sHRNEAGE IS A MYSTERY
Some Contend That There Is . Con-
spiraey to Ruin Tom LAWSON
Manipulation Not Understood.
Special to The Post

New York, December 7-selling al 1870 in
the days Of the boom. touching today the
lowest point in It's history-G49s ap-
parent value OF Analgamnted Copper stock
has shrunk within few months nearly
SJo,oo0,00O This is the momentous fact
| in finance today.
Is the gigantic combine based upon COP
per about to collapse; Is a bitter enemy
aud resolve on the part Of clique Of
men to ruin a single millionaire responsl.
| Bile Or is there afoot a wicked conspiracy
to shake the stock out OF the hands Of
the public, lured by d spectacular rise in
the shares to buy them at high prices in
order that few rich may gather them IN
ana tatten their millions by an inevitable
rise In the valuation OF these sharest
lhese are the questions spectators are
! asking Ia Wall strget today, auu asking
without certain reply. Inc only thns
thol Is certain, is that the downward traek
! OF copper is 6trewn with ruined speCula-
/ tors wno have ventured small capital in
/ The almipg pursuit OF the gain.
| copper Is tue dominant note OF the mar
kct, not only here, but In London and in
other capitais. The price or the metal IT.
| self has slumped heavily 10 the BRIT sd
/ market and with it the Rio Intos aud
/ other copper shares have fallen. II has
/ been said that the kothsChilds who controi
I The Rio Tiutos mines and the Standard on
/ men VINO control Amalgamated Copper have
/ united, not only TO depress the shares, but
! me price Of copper. IN order 70 force the
/ great Calumet and Hccta mines into a
world combine with them.
Another story lis that the natural produc.
/ ton Of copper, stimulated by the great de.
mund Of the recent years, has outruu that
demand and that the trust is stu.krupg
/ under load Of the metal in the euOrt to
maintain It's price around u cents. Under
/ that price, 10 has been said, the trust will
I ue unable to pay It's regular dividend aud
J igfa hat a tkl
. deud expected next week will be passed
The capital stock Of the Amalgamated
( copper company is $4,000 600, and II takes
/ S4,uuh,tp annually to pay its dividends.
, In the Amaigamated Copper company one
/ OF the heaviest II not the heaviest stock
/ holders, Is Thomas W Lawson Of Boston
/ lie holds l42, 600 shares aud his losses ate
/ said q" amount TO $l1,0O0,OOO. II is agalu-t
/ MIN, one rumor says, that the campa IN
+ or the copper pool TO bear the stock hns
been directed.
/ "a tne local market today. brokers' At
I one time, seemed frenzied Over 14sOOO
/ shares were sold, most Of them a declining
| prices, Big blocks Of he stock were
! thrown upon the market
| In London the copper market was again
demorallzed The metal was offered n the
| lowest price IN yenrs, equivalent 10 1874
| cents a pound for refined here. Rio Tlntos
| We're weak and also Anaconda
A great deal Of significance was attached
10 the fact that tho stock OF the Trinity
Topper company, which was financed by
!,
dropped TO ~ today on the Boston cN.
chahHe II sold Yesterday at % par yalucl
ana mas sold up to SIS per share. Lawson
paid 100000 for the property and hontcd
II at 100000 Tho street was fun Of
rnmorS that Lawson WINS totterng for a
slsan'ic fall, but from BOSTON Lawson sent
Word he was losing money in chunks, ''
nut that he had IL to lose aud had no In.
tontion Of assigning
Another incident OF dav Of vast excite.
ment and much suppressed terror In NII
VI. inN
people proposed to cut copper TO Il cents
lhcre were reports In Wall street Of a
large commercial house being in trouble
hut It was said that the Arm would he
ud'a over It's difficulties by some of fac
great hanhlng interests Of tho street one
nfok"r succumhod, BENJAMIN T. Raypor nj
30 90 Broadway, announcement OF whose
Iaiiurc 10 pay his differences on tho Con.
Sohdatcd exchange was made In the morn.
ing, Mr. Raynor has always beca bu
on Manhattnn, HIS profits ON that stock
w. 10 Thursday night, It is said, we're over
$4,000 but the sudden and severe shake
up Of Friday was his undong