Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-12-02
Stocks Were Rather Heavy and In
clined to Dizziness.
SOME BUYING OF IEDUSfRIALS
AmaIgamated Copper Still a Dis
turbing Feature.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
Z NEW YORK. December 2-Selling by the
professional element. inspired by the en-
gagement of some So 200, 600 gold for ex-
port, gave today's market q surface indica-
ton of heaviness. Commission houses. had
no business OF a significant character. and
the public is Enthusiastically disinterested in
speculation.
The season Is one OF activity In trade cir
cles and attention Is being centered there
by merchants and manufacturers, and Wall
street is forced to await the first Of the
year settlements before II can go ahead
with its long delayed advance. Il is sur
plus money only which the public brings
into the stock market, and just now the
surplus is being used in routine business
enterprises.
The expression that stocks are In strong
hands, and that therefore no break In
prices is likely, is being overworked by the
interests most concerned with the course Of
the market. There have been declines in
Wall street, and many of them severe in
which the brunt of the loss fell upon the
strongest interests.
To have stocks well placed is encourag-
ing. but even among the strong there is
one interest stronger than another and
there is no guarantee against accidents.
At the present level of the stock market
anu III the present cOnCltlOn OF the money
markets IL is accident that is to be dreaded.
Approaching this fact. the recent move
ment In Amalgamated Copper has sug-
gested spirit of caution on the part of
the public which no Judge of conditions
seeks TO allay... Millionaire interests are
struggling for the mastery of the worlds
copper markets, and one side Is doomed to
triumph.
cost to its adversary are the questions
upon which the future OF the stock market
hinge. 1t has been suggested that the
gold going ont to- France has TO do with
engagement by the National City Bank
gave some color to this theory.
The converting OF Congress and the GER
tafnty Of a. contest over the Northern
all the attention that is being given them
at this time. As to the former, II Is we'll
understood that resolutions with appro-
pirate speeches In support win serve every
completed legislation may not be insisted
upon. Radical action Is not feared but
radical talk is assured.
The course Of the Northern Securities
Company is far from clear and the fact re-
mains that no matter what consultations
may be made within the Law. the states
themselves may so limit their operation as
to cripple the entire project. Ii Is being
pointed out by shrewd legal authorities
that mere injunctions are not to be dreaded
so much as quo warranto proceedings look
ing to the forfeiture OF franchise.
The one feature which might discourage
such extreme measures is the conse-
Quences OF such action IL successful.
The trading today In all departments re-
Elected some irregularity. Covering OF
short stock helped Copper, and a few in
dustrials advanced In consequence. Nash
willie was advanced beyond no. but the
rest Of the market was not stimulated ma
terially. Union Pacific and St. Paul were
weak under mixed selling and the general
market closed heavy and feverish.