Evening star., 1901-09-24
Stocks We're Irregular, With a Ten
dency to Weakness.
DRIVE At The GOULD PROPERTIES
Copper Was Weak and Strong by
Turns, Closing Stronger.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK. September 24.-American
railway shares in the London stock market
again today showed an irregular move
ment Prices in a majority of cases. how
ever, showed declines OF from u to ~ per
cent from our closing figures of yesterday.
In the local stock market prices at the
start showed declines in most of the active
stocks. compared with the closing yester-
day. In st. Paul. Missouri Pacific, Sugar
Refining Chesapeake and Ohio and Pa
cific Mail the declines at the opening ex-
tended to 1 per cent and over.
In Amalgamated Copper the opening sales
Of nearly 10000 shares showed a decline OF
112 per cent from last nights closing price.
The stock quickly yielded l per cent more
where buying orders were encountered,
which rallied the stock to ~, or Y per cent
general list improved from La to / per cent,
and the traders generally were inclined to
cover short contracts for a turn on the
other side of the account.
Anaconda, another copper stock, declined
at the start to 34la, against 3712 yesterday.
After the first hours trading, however,
weakness developed in the grangers. led
by st. Paul, which stock lost per cent
from the early high prices. Atchison COM
mon, Union Pacific and Southern Pacific
were also under pressure and declined over
point. Missouri Pacific and the other
Gould issues were heavy.
Traction stocks were in sympathy with
the general market Manhattan losing per
cent. while Metropolitan and Brooklyn Rap
Id both lost over point. Arbitrage brokers
were again sellers for the London account.
The United States Steel stock opened of
fractionally, but when the rest OF the mar
ket weakened there was very little pressure
to sell these specialties, and both the COM
mon and preferred shares held fairly well.
Wabash issues and Western Union Tele-
graph stock both declined on the reported
threat Of the Pennsylvania railroad to ex-
ercise pressure on the Goulds to prevent
them from having the Wabash enter Pitts
burg. This report met with an official de-
nial by the Pennsylvania people. but this
action on the part of those officials. curl
ously enough. had little effect on the prices
Of the securities mentioned, and the selling
looked better than the buying In the early
trading.
Around the noon hour the market became
dull and there appeared to be less dispo-
sition to sell stocks, on account of the
steadiness in Amalgamated Copper, which
then showed a slight improvement over
the opening and an inclination to rally
further. Anaconda, too, rallied sharply to
81, gain Of over two points from the
early low figures. In the early afternoon
Amalgamated Copper stock rallied sharp
ly on covering Of shorts to above 93 This
Improvement in copper led to fractional
rally in the general list.
London was quite heavy seller in our
market today, it's sales amounting to near
ly 10000 shares of stock on balance.
The rally in Copper was said to have
been largely caused by Boston buying.
Standard Oil interests We're said to be
sellers of st. Paul.
In Missouri Pacific 1t looked like long
stock coming out the rallies that oc-
Cured in the afternoon dealings
1t begins to look If the selling move
ment in the Copper stocks had about run
its course for the present, and as there Is
a very fair short interest in them. 1t would
not be surprising If a sharp rally occurred
before a lower level than that Of today Is
reached.
Good judges of the general situation do
not look for more than a trading market for
some little time to come.
In the late trading the general market
was holding fairly well the Improvement
caused by the rally In the Copper stocks