The Washington times., 1901-12-31

prices, the chief Of which were the very
close money market and the renewed and
extreme weakness which developed in
Amalgamated Copper.
Uncnsy Over Money.
With the-course of the morning both
Of these matters seemed to lose a good
deal of their influence. and at all events.
shortly after midday there was general
recovery in prices. which took place with
out muth increase in activity. Through
out the business day the market exhibited
Il very uncertain and Sitting tone.
Uneasiness respecting the monetary sit
uation was the overshadowing and re-
pressing factor. and the approach Of an
other midweek holiday also operated
against more energetic trading for either
account The days conditions in the mon
ey market were by no means unexpected.
and for that reason their influence was
probably minimized.
Gains by the Banks.
There was a very general shifting OF
loans, and ii was owing to this rather 1
than to any actual scarcity of money, /
that rates advanced to the poin: they did. !
The days f-rres Of the dealings between |
the banks and the Sub Treasury reflected |
tor the first time the payment by the 4
Government for the 81 ,500.e00 in bonds. 4
the redemption of which was reported last |
week. and the banks have gained since |
Friday, in consequence. s. i6l, 900.
Further small amounts OF currency we're I
transferred to New Orleans. but other
wise the banks continue to make sub /
stantial gains on the Interior movement OF |
cash. Sterling exchange was decidedly |
strong.
New Weakness of Copper.
large number Of traffic returns COW
ering the month of November were sub
mitted and for the most part were excel
lent showings. In nearly every instance
heavily Increased ouJiays for operating
expenses we're reported.
Todays fresh outbreak of weakness in
Amalgamated Copper was 1ue TO the ad-
vices received after the close Saturday
that the perennial litigant against he
Anaconda Mining Company had gained an
other important point in his contest with
thai concern IN the Montana courts. The
announcement that The Anaconda mine
had been shut down in order to avert the
results Of the latest legal decision against
the company was followed by break Of
IL per cent ia tina, stock and OF nearly
points in Arnaigamated Copper.
Hecia Dividends Cut.
Another incident throwing some light
on the conditions prevailing in the copper
trade was the reduction in the quarterly
dividend on Calumet and Hecla stock from
SIS TO SO share. Another movement of
interest in the specially quarter was in
Western Union, which was strong on IN
usually active dealings.
In the industrial quarter the United
States Steel stocks were firm on active
dealings. which were largely based on the
expected strong quarterly
statement of the company, while Sugar
Refining sold of rather rapidly without
any news TO account for its course.
The Railways Strong.
The Reading issues were ;he features of
he railway list in respect 10 activity and |
strength. and the anthracite coal stocks |
we're generally strong. with a further
advance IN New Jersey Cen
.ral Other comparatively firm features
we're Denver and Rio Grande Pennsylva-
ria aud Baltimore and Ohio.
Aside from those cases price movements .
we're along the irregular lines already
noted. St Paul and Union Pacific we're
notably active. Nothing Of interest took
place in The dealings IN the local traction
stocks.
Aside from those cases price movements
II stocks IN this market, following up !
over range Of prices Tor American stocks
n London. as set forth In the early ca
lies.
New York stoci. Exchange. Dec. 80.