Evening star., 1901-09-25
FINANCE AND TRADE
Nearly ALI the Active Stocks Weak
and Lower.
SELLING OF MISSOURI PACIFIC
Amalgamated Copper Was Not
Pressed So Hard Today.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, September 25.-Today was
first making-up day in London for the fort
nightly settlement. American railway shares
in that market were steady at about our
closing prices OF yesterday. with the ex-
ception of Atchison common which showed
an advance of y per cent over our parity.
Anaconda and the steel stocks ruled steady.
In the local stock market opening prices
were fractionally better in a majority OF
stocks and the tone at the start was fair
ly firm. Manhattan Elevated and Atchi-
son common were the strongest features.
while the copper shares displayed more
strength on reactions than heretofore.
There was some talk in the street OF cut
in the price of copper to 1874 cents. There
was not. however. so many pessimistic
forecasts as to the Anaconda dividend. ac-
tion upon which is soon to be taken.
Union Pacific and st. Paul both acted a
little heavy after the initial dealings and
were sold rather freely by the traders-the
former losing over a point and the latter
over two per cent
After the first fifteen minutes of trading
professional selling became evident, and
prices at the end OF the first hour had
yielded from i to per cent in the active
list.
Missouri Pacific. in which long stock
was said to have come out yesterday on
the rallies, was a weak feature in the spec
ulation. the stock selling below par. against
lo2ia at the close yesterday. Manhattan.
too, lost two and half points from its
early high in this reaction
The copper shares, however. after a lit
tie setback at the start rallied to about
the opening prices on the covering OF short
contracts. Good advices in regard to the
probable movements of the copper issues
however, could not be obtained conse-
quently the trading In them was pretty
much guess work, save for those who are
connected with the blind pool which has
been such a persistent seller Of these stocks
for the past week or more.
Ihe only arguments used by those who
rlsked buying the copper issues were that
both Amalgamated and Anaconda have had
heavy declines, and that there was prob
apIy short interest In them.
e. WABASH officials appear to be going ahead
IN regard to that roads entry into Pitts
burg, as, according to a dispatch from that
city today the contract has been let to fur
hish the wabash system with the forty
miles OF new main line which give them
an entrance into Pittsburg. Whether this
action VIII precipitate the reported threat
ened movement on the part OF the Penn
syiVanla railroad remains to be seen
Around the noon hour another drive Was
made at the market, and prices yielded
easily point or more in the active stocks
the Gould stocks especially showing the
greatest weakness, led by Missouri Pa
cif1c. In the early afternoon copper issues
were again reactionary under heavy sales
said to be for prominent Boston operstor
Analgamated in this reaction lost all of its
advance OF yesterday, while Anaconda lost
over point from fits early price
At this time Missouri Pacific, too. was
pressed for sale. The selling In this stock
and St Paul and Atchison shares came
from western houses on a revival of un-
favorable corn crop rumors. The first
mentioned stock, Missouri Pacific sold be-
low 9s and good deal Of long stock an
peared to come out
London traded In about 10000 shares n,
which 10000 were said to be purchases. the
largest share OF which was In Atchtson
common. Arbitrage operators reported n
distinctly bullish feeling in American rail-
way shares on the other side
A rather rosy statement in regard to the
United States Steel stocks came from a
representative of that corporation I'm Phil
adelphia, but its publication had no ap-
preclapie effect upon the prices OF those
issues. though 1t must be admitted that
they held better than anything else on the
list. VII >"'
Good buying was discernible I'm the
Nickel Plate issues and the other low
priced Vanderbilt stocks
A better feeling prevailed In Smelters.
where 1t was said conflicting inside inter-
ests were disposed to come together
Norfolk and Western issues were fairly
STEADY when the market showed its great
est weakness, and these stocks are expected
to rally sharply when the pressure is lifted
ana the market turns about. In the late
trading continued pressure to sell Missouri
Pacific was In evidence. The same was also
true regarding Union Pacific St Paul and
the Copper shares, and traders took ad-
vantage OF the general weakness to attack
soft spots, finding weak bull accounts in
Brooklyn Rapid Transit and some of the
Morgan issues.
Southern railway shares suffered because
1t was believed that the pool in the common
stock had thrown over a good deal of its
holdings in the past few days