The age-herald., 1901-09-25
MARKET SHOWS
 SIGNS OF RELIEF Inside Interests Came to Sup port of Amalgamated Copper BEARS ON THE RAGGED EDGE Some Alarmist Stories Showed Their Lack of Ammunltlon-They Gov
 cred Heavily During the Lat
 ter Part of the Day.
BEARS ON THE RAGGED EDGE

New York, September 24-There were indications of support for Amalgamated Copper by inside interests today for the first time since the reduction In the ulvl- dend was announced last Friday. 4he rapid downward course of that stock was thereby arrested and the whole market showed signs of relief from the serious strain engendered by Amalgamated Cop per's violent decline.
 There was little actual news to take account of in consideration of the day movement of prices as they were gov erned almost exclusively by technical causes growing out of collapse in Amal- gamated Copper Copper mining stocks all over the world showed the effect of this development this morning and spot copper in London scored a violent decline on account of a prevalent rumor that the Amalgamated Copper was about to re- duce it's selling price in order to work off an accumulation of its product. Sell ing by foreign holders of American se- curities. including railroad stocks was an important influence in the opening decline here which reached from 1 to points in importance. Amalgamated Copper sold at 90 during the first few minutes of trading which proved to be the low point of the day. It was after the stock had steadied that the severest pressure developed against the general list promiscuous spilling out of stocks carried the leVel or the prominent railroads and special ties from 1 to 1& below last night ts, the Pacifcs, Southwesterns Changers and Sugar being the principal sufferers. It was believed that recent losses in Amal- gamated Copper were responsible TOT the liquidation elsewhere.
 Several alarmlst stories put out this morning indicated the exhaustion or Ammunition by the bears. The support developed in Amalgamated Copper ana the postponement of the meeting or the directors of the Anaconda Company, which it was feared would result Tn an other dividend reduction, completed the discontinue of the bears and they GOV cred heavily during the latter part or the day. The earlier declines were large ly wiped out and a fair proportion or net gains established. Points of con spicuous strength were the Vanderbilts, Manhattan and Wabash A feature or the day was the selling of stocks con ii oiled by leading capitalists by brokers usually employed by other leading capi- tallsts, which served to emphasize the dread felt yesterday a renewed out
 
 CTS. A good deal of the selling of Anal gamated Copper was of this character and seemed to be designated to force outside support of this stock. In the late buying movement practically all or the large sellers of the last few days were represented.
 The selling of stocks for London ac- count made an active demand for ex- change, which forced rates up an addi- tional fraction away from the gold i'm port point. The hardening of discounts in Berlin was an influence In the same direction Cotton bills continue scarce in the exchange market but there Is better supply of grain bills.
 The railroad bond market was quite active and weak in sympathy with stocks Total sales, par value, S,26O,OOO. United States 3s and the old As ad- vanced A per cent on the last call.
 New York Stock Market.
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