New-York tribune., 1901-11-30
BONDS.
THE DAYS OPERATIONS IN STOCKS.


4 sharp decline in copper shares in the foreign
and local markets responsible for irresu-
1arf-v In YESTERDAYS trading. Selling, however,
of smalramated and Anaconda did not induce
i,,,r,ortant Iiouidaton elsewhere in the list While
IT the close Of the railway and INDUS
trial issues presented net advances as COM
1,ared with Wednesdays final figures In Lon
don conner is down e. a ton as compared Win
a week ago ard gloomy views OF the Foreign
situation are apparently responsible lot ehe
weakness in copper securities in London and
Paris Local trade conditions are said TO be IN
exoeIlent shape The consumption Of copper IN
This country is enormous, and. despite the lower
i,yices abroad. the Amalgamated interests eA-
,rass great confidence In their ability TO main
Tin the l65sG? Ia cent rate. Confidence on the
,,srt of insiders however, fails to beset con-
1idence among stock market spectators Oh
Anlaleamated and Ana conda shares. ano' al-
though quotations have already registered sef-
CHS declines the trading element believes that
further s.tbacks will be made. There was not
,7,uch activity on the part Of commission houses
Yesterday It is Doubtless true tfat many peo-
,,ra are taking advantage of present prices to
sell securities bought at cheaper prices IL IS
moi true however. that banking interests nave
;.,,srau-n from the market intend in the
,or +,,,rra 70 unload their stock holdings Sew
era1 large deals are under way; important plans
ir7,-olvinc railway companies have not oeeh
rerfected and until all these nnanclal uhoei
-akin.-s have been successfully settled the Dig
men" will not let the stock market go to pieces
Higher quotations will. it is believed De naoe
before the end Of the year
After rhe -lrst hour the market showed a ten
6ancv 70 cut loose from the influence OF the
conner stocks. pool buying being effective IN
causing q general rally. Strength in the steel
-all,s l,elred the wh Die list. The demand fof
,ba United States Steel securities came from
inside interests and from a good class OF COM
mission house traders. According TO trace re-
,,orts there is no abatement il the demand 1or
mig iron and no objection on the part OF buyers
"a the current level Of prices. which averages
s. a ton more than on November l. 1rahsac-
.ions involving contracts for deliveries 10 run
through the entire year of 1so2 are repofeeu
,,,- most Of the buying is for the first half OF
-ha new YEAR There apparently Is no specuia-
49,, ~ Tho current iron and steel business, as
u -s,,or-s tend to show that the heavy tonnage
Contracted for is entirely for legitimate con-
surnrtion Under present conditions. II "ouio
seero as If the United States Steel shares nisn'
nrove profitable purchases AT going pii0e'
surar Refining stock is again coming into popu-
lar favor but there are much cheaper anu HUI
attractive issces among industrial shares- IN
.ar,a1ional Paper preferred is more attractive
This stock is selilnS wen Uiidei iio oN'u'' Wv -
and it ought gradually to work hlgher- 1t "as
a strorg feature yesterday
In the last hour a further decline IN Athaisa-
mated Conner induced bear pressure Throughout
.be list and as a consequence, prices were
generally heavy at the close. The money mar
ket showed no important change in the day, pu'
foreign exchange rates were again strong WIZ
on advancing tendency. According TO the
known movement Of money In the week the
banks have gained in cash holdings while IL Ii
generally believed that reserve above iesai re
ouirements will show an increase. both throuei
q gam in cash and reduction III loans. In
return Of the S25.O00.OO0 to the United states
Steel CORPORATION underwriting syndicate ough
10 BE- reflected in the loan account In to-day
bank statement. In foreign banking houses i
is thought that more gold may be exported mex
week.