The Washington times., 1901-11-27
FIRMER TONE
AT THE CLOSE.
End Of the Downward Ten
denCy Reached.
COPPER STILL UNDER PRESSURE.
Vanderbilts Also Reactionary in
the Early Dealings-Manhattan
Railway Strong - Sudden Ad-
vance in General Electric.

NEW YORK, Nov. 26.-Stock marle'
movements today continued exceedingly
large. and the influence upon the gen
cral list Of the tendencies displayed by
Amalgamated Copper and the Wander
bilt stocks was again plainly displayed
The last named We're somewhat reac'
uonary, presumably on account Of the
disappointment Of spectators that nC
official announcement Of the plans OF
the controlling interests in the property
vas made public after today's routin,
meetings of the directors Of several oi
the roads. AS a matter OF fact. no well
informed persons had looked for any
official statements at this time. but th'
rise in these stocks has attracted {
large speculative following. and this
class proceeded to liquidate forthwith
when it became known that no an
nouncements were Forthcoming.
Affected by the Strike.
Pennsylvania, which has been another
leader in the recent advance, was also
reactionary, the tendency of that stock
being in part owing TO the outbreak OF
a strike by the sw1tchmen of the com
pany at Pittsburg.
There were very heavy dealings in
Amalgamated Copper, and the stock at
tained q fresh low-record price.
Trustworthy information from Wash
ington respecting the alleged inquisi-
torial attitude Of the Department of
Justice toward the Amalgamated com
pany was again wanting, but there are
good reasons for believing that no ac-
ton whatever is contemplated.
At the same time. there was renewed
and heavy liquidation in the stock, par
ticularly by houses with Boston connec-
tfons. a circumstance which revived
yesterdays rumors respecting the cm-
barrassment of some heavy spectators
in the stock at that point.
bitterness over Copper.
1t goes without saying that the Wall
Street atmosphere is now surcharged
with bitterness in respect Of the general
market career Of Amalgamated Copper,
where, it must be confessed, the nanip-
ulation has overshadowed even that
conducted in Sugar Refining in its most
strenuous days. In either instance
spectators have had to proceed entire
ly in the dark and have had 10 other
guide for action than that furnished by
the stock tape itself and the tips which
invariably accompany the moves in
similar stocks.
The days general situation comprised
very easy monetary conditions, some
what frmer exchange market and a
large number of highly gratifying re-
turns of railway traffic for the third
week of the month. The circumstances
were, however. overshadowed in the
speculation by the more technical con-
siderations referred to.
There was a material shrinkage in ac-
tivity, but interest continued quite well
diversified. Comparatively firm fea-
lures of the railway list were Louisville
and Nashville, Southern Railway, and
the wabash shares. st. Paul and Union
Pacific again underwent irregular price
movements.
Union Pacific Weak.
Union Pacific was rather persistently
weak, while St Paul showed occasion
ally a disposition to advance, although,
as noted, movements in the stock were
exceedingly uncertain. Baltimore and
Ohio was particularly weak. presuma-
bly, in connection with the proposed in
crease IN the common stock.
There were fairly animated dealings
in the local traction stocks and Man
haitian Railway showed pronounced
strength, which was no more directly
accounted for than by the repetition of
last weeks rumOrs that dividends on
rising scale were to be guaranteed on
the stock by another corporation.
In the Industrial quarter, Sugar Re
fining made an early show of strength,
which was not fully maintained, while
the United States Steel issues We're com
paratively duh and heavy. There were
few movements Of interest among the
specialties outside Of those in Amalga-
mated Copper, and price changes there
followed well in line with those in the
general market.
London was an inconsiderable factor
in the local dealings, foreign houses on
balance disposing of about II ,o0G shares
OF stock.
Firmer Tone Developed.
In the last hour Of business the stock
market developed a nrmer tone, not
particularly on account of any change
in outside conditions, but because Of theI
seeming elimination Of the decline in
Amalgamated Copper and the exhaus-
ton of the incidental selling of the
market at large.
General Electric in a notably sharp
advance was a conspicuous feature Of
the later dealings, while in the railway
list q sharp recovery was noted in
Union Pacific. The dealings. however.
continued in light volume in compari-
son with recent averages.