The Washington times., 1901-11-26

theless characterized by no little irregu-
larity of movement. The speculative com
munity appeared to be altogether puz-
zled. and with good reason, regarding the
actual attitude Of the Department Of Jus
tiee toward the organization OF the Anal
ga1nated COPPER Company, and presumably
toward other trusts.
A Premature Announcement.
From the same quarter which on Sat
urday sent out the information that legal
proceedings against the Amalgamated
Copper Company were contemplated by
the Attorney General of the United States
came statements that while the reports
were premature. they were by no mans
unfounded and that they would eventually
turn out to be true.
The confusion of ideas caused by this
conflicting information led 20 some wild
movements in Amalgamated stock. 1t
opened nearly points above Saturday s
final figures on the notion that the street
had been hoaxed through the statements
sent out. but the stock at once reflected
heavy pressure, and with the course OF
the day it broke violently.
It's varying movements were naturally
more or less effective upon the rest of
the market. It was presumably for the
same general reason that Great Northern
preferred was heavy, for by Implication, if
successful Federal action can be under
taken against the Amalgamated Copper
Company, similar action would lie against
the Northern Securities Company. ard, for
that matter. against a number Of other
organizations CT a related character.
The Early Activity.
The general market was exceedingly
active. and for the most part very strong
As already noted. it was occasionally in
fiuenced by the violent gyrations in Anal
gamated Copper. But in the main it fol-
lowed the general lines which prevailed
toward the close Of last week
All the Vanderbilt issues. and notably
New York Central, continued exceedingly
strong On the expectation that some an
nouncement respecting the readjustment
of the relations between the Vanderbilt
properties would be soon Forthcoming.
Among the so-cailed junior issues Canada
Southern and Lake Erie and Western
made the best showings.
Other noteworthy movements in the
railway list were in Louisville and Nash
Ts 5hs S2uhmsrP m s RsiEAy s sass hhaFss and
heavily dealt in and we're very firm, much
of the speculation which has recently
been conducted in the Reading shares be-
ing apparently diverted to the Erie stocks.
Anthracites Hold Firm.
The higher priced anthracite stocks
were likewise firm. In the bituminous
coal group a new high record Of price
was made by Norfolk and Western com
mon. and Chesapeake and Hooking Valley
were exceedingly firm.
The local traction stocks took little
part in the days movements and the fluc-
tuations in the Industrial quarter we're
limited. Sugar Refining and the United
States Steel issues made an early show
Of strength. but later on reacted upon the
development OF the pronounced weakness
in Amalgamated Copper
In the specially quarter strong features
were Tennessee Coal and Iron American
Car and Foundry. and General Electric.
but here too the movements after the
early dealings we're marked by great ir-
regularity. Virtually nothing Of interest
apart from the action threatened against
Amalgamated Copper was comprised in
the news over Sunday.
Lorion was not a factor OF Importance
in this market Sterling exchange con-
tinued very weak and there appeared TO
be unlimited offerings Of money under ~
Per cent. the bulk Of the new borrowing
in fact, being effected at 1 per cent.
Closing Under Pressure.
The market closed sharply depressed
from the best figures in every quarter
and with a continuation Of the weakness
in Amalgamated Copper, which closed
nearly four points below last nights final
figures. There was no further news re-
specting the property and no Untoward
development in the general situation, the
reaction being based almost exclusively
upon the course OF ANA lgamated stock.
New York stock Market, Nov. %.