New-York tribune., 1901-12-19
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Stool, market values were strong in the greater
part OF the day. with net gains in most issues
at the close In 4 number of shares evidence or
investment buying noticed, especially IN
Delaware and Hudson. which enjoyed maxi
mum advance Of 234 points to 1I3l2 and net
gain Of point. Earnings Of all the anthracite
coal roads are heavy. while the prospects favor
an active demand for coal at prevailing hlsh
prices throughout the winter. The coal stocks
are held IL high repute at present and II is gen
orally believed that Delaware and Hudson will
eventually sell as high as 200, and that the Erie
and Reading issues will be prominent features
Of the market in the course Of the next few
months Both the Erie and Reading companies
have made wonderful progress in earnings IN
the last few years; they have grown in impor-
tance as investment properties, and they have
reached a position that entities their securities
20 q higher place in the level Of values Sentl-
r1ent was more favorably disposed toward op-
erations for rise yesterday. but there was.
however little response from commission houses
London prices were frrner. The more encour-
aging reports from South Africa helped the for
eign markets. and they also served to strengthen
local values The end Of the Boer war will un-
doubtedly have far reaching effect on the inter
national money markets through the reopening
Of the Rand mines. AmalgamaIed Copper stock
moved in an erratic manner throughout the day,
with. however. great strength at the close the
last price showing net gain Of ) points.
The loss on copper exports in the eleven
months ended November 80 amounted to S23,-
100000 as compared with the same time in the
preceding year. This loss in the value Of copper
exports however, is not shown in the exports
IF general merchandise in the year. inasmuch
as there were offsets in the way OF increased
exports of other products. the actual falling off
IN the country's export trade in the time named
amounting in value TO only $685.. 81. The
falling off in exports of copper since January
as compared with 1900 amounts to 6i.194 tons
and resumption Of heavy shipments of the
metal is not promising the moment. It
should be borne IN mind. however, that dealers
abroad have been carrying very little copper in
stock, and that with the return of more normal
trade conditions in Germany and other foreign
countries that have been suffering from indus
trial depression active export demand for
copper will doubtless develop in the American
market. The output of copper in the United
States in November was Las tons under the
same month in 1900. Lower prices for copper
are predicted in some quarters. and it is thought
that the new policy of the Amalgamated COM
pany is 10 make quick and decisive fight
against the independent producers in order to
bring the so-called copper war to speedy end
The directors will meet to-day to take action
On the dividend question.
The advance In Analgamated shares was due
IN great part to covering Of shorts Activity in
the stock failed TO attract outside buying, and,
5espite various rumors regarding the property.
commission houses thought il wise to advise
customers to keep out Of this issue. An an
nouncen1ent that a further cut had been made
in price caused a temporary reaction in Anal
zamated shares but in the closing dealings the
quotation moved up rapidly to 66l2 The whole
list was strong in the last ten minutes Of trad
ing, recovering midday reactions Jersey Cen
trail on small transactions closed 5l2 points
higher ST Paul American Cotton Oil. Great
Northern preferred, Mexican Central St. Joseph
and Grand Island issues, St Louis and San
Francisco Union Pacific and Western Union
were strong features. Among the active shares
Manhattan was weak. Call money ruled at 81
per cent, and foreign exchange was stronger,
with demand sterling at S624 G4S63s.