The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-12-20
Jlocks. Bonds and Money


Bar silver. Now York ...... 55ss 551h
NEW YORK. Dec. 19-Amalgamate
Copper claimed and held interest over
all the list In the street today, and went
through rapid series of bewilderlng
fluctuations. After the cratic market
had closed the directors Of Amalgamated
met and voted a dividend or l per cent,
and issued a statement placing the plane,
for the decline upon the Shrinkage IN
foreign consumption. In this contraction
it was stated Amalgamated had been
forced to bear the largest loss in the ef-
fort to maintain prices. The statement
placed the falling off in exports at 5000
tons, and said that during the last
month the United Metals Selling COM
p6ny had sold over 100. 10000 lbs for fu-
ture delivery. Large blocks of the stock
were unloaded Immediately business be-
gan on the exchange, and about a half
an hour after the opening the gain of 3
points made yesterday was wiped out.
Transactions became very moderate.
Efforts Of shorts to cover assisted by
what appeared to be manipulation. ran
it up tt. 66is, or parity with yesterdays
close. The stock backed and filed over
range of a point, until well into the
afternoon. Trading became excited in
OF from 1000 to 5000 shares changed
hands frequently on a rapid rise to 691s.
An equally rapid reaction followed, to
6412, changes of point being made be-
came the declining tendency, and the
price bounded up again to 67R. There
was another slump just before the close,
ana last sale was 657s. The general move
ment OF the stock throughout the. day
was of all exceptional character, and its
dominance of the trading was represent
ed in actions of % 500 out of total
Tor all the stocks of 476,ee shares.
The meeting of the Directorate at
which the reduced dividend was declared
ana the statement in behalf of the COM
PdHy made public, commenced as the
market was closing, and was attended by
e WiiIlam rockefeller, II. H. Rogers, James
Stiiiman. Arson r. Flower and William
u rockefeller. No announcement was
made for an hour, and when clerk an
peared a. the office door with an armfuI
OF typewriter statements. he was in
stantly the center of sensational rnsh
Half of the statements were torn as the
clerk attempted to distribute them in
the crowd of messengers, financial hu
reau men and reporters announces
meht was made that the dividend was 1
per cent, compared with IL declared in
september. The statement given out.
among other things, said:
ne officials of the various commands
al r, carefully considering the situation
IN IN al ITS phases. decided that it would
We oetter Tor the interests of the COM
pany they represented to refrain from
Forcing upon the market more corner
Tran was actually needed. as such action
prices The selling agents of these 20.
panies Were therefore instructed not to
attempt to force upon the market more
t tia was actually needed for consu1nqo-
LION. put TO maintain a firm price IF
oInc1als of other copper-producing com
pahles had taken the same view of tn.
SITUATION and maintained a firm price.
ane mere is little doubt that the present un-
Settled conditions of the market would
nave peen in part, if not wholly opyi-
ated. Inc prosperity Of the copper bust
ness depends largely upon such a revival
OF foreign trade as will bring the total
consumption of copper nearer to the pro-
duction than is the case at present.
very few stocks attained a movement
OF as much as point in either Gree
ton from last nights close The tone IF
the coalers was good and there was some
TAX OF "a coming advance in the price OF
anthracite. The principal movements
We're IN the specialties. There was a
good demand for Peoples Gas and thu
Pressed Steel car stocks. rallied sharpiy
from their recent weakness United
safes Rubber and the rubber goods
STOCKS $40, were weakened by the reports of
the formation of large corporation TO
compete in that trade
Ihere was no apparent uneasiness over
the money situation. although the SUBJ
tI continues TN to drain supplies from
900 at the subtreasury for transfer 10
New Orleans today. The sterling ex-
change market closed weak, after a de-
gree OF hrmness during the morning, due
to the firmness of the London money
market. The assumption is general that
the outward movement of gold for the.
year has come to an end. The reportss
of extraordinary level of prosperity
maintained in the iron trade ana the
weekly gross earnings of railroads which
came to hand encouraged the firm hold
ing of stocks. The cut in sugar and signs
of renewed disturbance in that trade
were without notable effect The market
closed irregular and Very dull.
Railroad bonds were dull and steady.
Total sales. par value S2.145,O0O United
States IS coupon and the 5s coupon adj
yanced a and the old as coupon declined
Is per cent on the last call.
SOCKS.