The Montgomery advertiser., 1901-09-26
WALL STREET REVIEW
STOCKS WERE WEAK UNDER
 LIQUIDATION.
The Attempt to Support the Market Was Abandoned and Former Bull Brokers Were
 Open Sellers.

NEW YORK. Sept. 25.-The stock market was weak under a rather drastic speculative cured a result of the violent collapse in AmalRamated Copper was responsible in large part for the selling today. but other considsra- i- part. Amalgamated Copper itself showed some evidence of support in the early dealings. opening unchanged and rising 4 over last night There also some resistance in this stock to the decline which set in in the gen. eral market, but the weight of selling pres for, the assembling of the Anaconda directors Amalgamated Cooper broke. through It's previ- low point un the movement at 90 and sold low 6SA, closing only a fraction higher at net loss of 4h. The decline accom- panied by the circulation of much statistical information bearing on the copper trade The same information, however. was available and was circulated at the time the stock was moy- the price since is what gives force at the present time to those statistics. and old recol- lections of the collapse of several years ago of the secret syndicate which attempted to control the worlds cooper product were revived. The omission of the customary extra dividend on Anaconda mining, although expected. added to the weakness of both those stocks. In the gen. eral market. the junior Vanderbiits were ad- became evident that large realizing was going on at other points of the list Uultimately all doned and brokers who have gre recently assumed this task were open sellers all around the room. The conspicuous operator who has been was credited with having turned to the bear side. The declines all through the list ran to
 and points at the last Missouri Pacific lost in all points, St. Paul 3h, Baltimore and Ohio. Manhattan 2%, Peoples Gas 2%, Central and Sugar 2& and other less prominent stocks from 2 to points There was no dis turbances in the money market beyond that caused by the calling for additional collateral on loans. due to the shrtnkage in value. but the liquidation was accompanied by the paying off of loans a large scale. Although London took the buying side this morning, exchange continued to advance The demand for ex- change is in the nature of short coverings. The operation in effect is the paying off of loans in foreign markets by domestic borrow CTS, who counted upon the large supply of cot ton and grain bills nofmaf to the season to cover former. sales of exchange at profit. But cotton is being held at the South for high rates and the grain movement last week ting of freight rates. The added demoraliza- ton in the east-bound freight situation heavily discredits the much vaunted community of in- terests security against just that develop ment and has a wide reaching effect on spec ulative sentiment. Although the rise in change shuts off the import of gold from Eu- rope direct todays announcement of another S2 500 900 is a significant offset. There were also reports of large receipts of Klondike gold at Pacific Coast points and S26o, 900 in- stallment of last week s shipments from Paris was received here today. Owing to Govern ment bond redemptions the sub-trearsury also continues to yield large sums to the money market
 Railroad bonds were but little affected by the weakness in stocks, gains and losses being ed Total sales, par valne, S2,oS5, 900. United States old As declined per cent. on the last call.