The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-09-25
STOCKS AND BONDS.

New York, Sept. A.-There were indica-
tons OF support for Amalganated Copper
by inside interests today FOR the first time
since the reduction n the dividend was
announced last Friday. The rapid down
ward course Of the block was thereby ar
rested, and the whole market showed
signs Of relief from the nervous strain
engendered BY Aralgamated Copper's Vi
oIent decline. There was little actual
news TO take account OF in considering
the days movement Of prices. as they
were governed almost exclusively by
technical causes growing out OF the COL
lapse n Analgamated Copper. Copper
mining stocks al over the world showed
the effect Of this development this morn
Ing. and spot copper IN London scored q
violent decline On account q 2 preva-
lent rurnor that the Amalgamated com
pany was about TO reduce It's selling price
in order to work Of an accumulation OF
It's product. Selling by foreign holders OF
American securities. including railroad
stocks, was an important influence IN the
opening decline here. which reached from
1 10 points n important cases Anal
gamated Copper sold at % during the first
few minutes OF trading. which proved 70
be the low point OF the day. Il was after
the stock had steadied that the severest
pressure developed against the general
list. A pr0miscuous spiIlfng-0ut OF stocks
carried the level OF the prominent rail-
roads and specialties from l TO "a below
last night, the Pacifcs. Southwesterns,
Changers and Sugar being the principal
sufferers. II was believed that recent
losses in Amalgamated Copper were re-
sponsible for the Liquidation elsewhere
Several alarmists' stories put out this
morning indicated the exhaustion Of am
munitioa 6y the bears The support de-
veloped in Amaigamated Copper and the
postDonement Of the meeting OF the d.
rectors of the Anaconda company which
il was feared would result IN another
dividend reduction. completed the dIscom-
fture OF the bears and they covered heav-
ily during the latter part OF the day. The
earlier declines were largely wiped out
and a fair proportion Of net gains estab-
ushed. Points Of conspicuous strength
were the Ya1derbilts. Manhattan and
Wabash. \ feature % the dav was the
selling OF stocks controlled by leading
capitalists by brokers usually employed
BY other leading capitalists which served
to emphasize the dread felt yesterday Of
a renewed outbreak OF hostility between
financial powers. A good many OF
financial powers. A coed deal OF the
selling Of AnlaIgamated Copper vas OF
this character and seemed 10 be dssig-
mated 70 force outside support OF this
stock n tho late buying movement large
sellers OF the last few DAYS were repre-
scented. The selling OF stocks for Lou-
don account made al active demand for
exchange which forced rates Up al add
toiaal fraction away from the god in
port point. The hardening Of discounts
IN Berlin was IN influence n the same
direction. Cotton bills continue scarce IN
the exchange market, but thsre IS Z bet
ter supply OF grain bills
The railroad bond market was cutie &C.
tive and weak Sc sympathy with stocks.
Total sales. par valne. $50 ~. United
States threes and the Old four advanced
= per cent on the late call