Evening star., 1901-09-21
Amalgamated Copper Today Lost
About Seven Points
ON ACCOUNT OF TIE DIVIDEND
Southern Railway Shares the
Strong Feature Of the Day.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, September 21.-The mar
ket for American railway shares in. the
London stock market was extremely duh
and prices there showed irregularity With
the exception Of Southern railway issues,
which were y per cent above our closing
figures here. the general market In London
was from " to u per cent below New
York parity.
In the local stock market the particular
feature to monopolize attention at the OPEN
ing was Amalgamated Copper stock which,
after opening of over six points from last
nights closing fgures-on account Of not
declaring the extra II per cent dividend az
yesterdays meeting of the directors-lost
over a point more on a renewal of the
heavy liquidating sales, which have been
In evidence all the week. The general
market at the opening showed slight i'm
provement over yesterdays closing prices.
and an effort was made to rally the active
stocks and overcome the weakness in
Amalgamated Copper by bidding up the
local traction shares.
Manhattan. Metropolitan and Brooklyn
Rapid Transit all responded strongly TO
this movement, the former advancing
sharply to 1924 for a gain of over points,
while Metropolitan and Brooklyn Rapid
Transit each gained nearly per cent. The
general list, too, was helped to a fractional
rally in sympathy with the strength dis
played by the traction shares.
Southern railway issues were fairly well
bought, but prices did not reach the high
est quotations of yesterday for these spe-
cialties. Good buying orders were said to
have been given in both the common and
preferred stocks Of the United States Steel
corporation, on the good showing the COM
pany made In earnings for July and Au-
gust, notwithstanding the strike.
After the first hours trading a moderate
reaction set in on a further weakening OF
the copper stocks, but after the publica-
tion OF the bank statement, which was
favorably construed by the traders. an
other rally in the general list occurred, led
by the traction shares. In this advance
Manhattan scored another ! per cent ad-
vance. while Metropolitan gained ~ per
cent over the first rally ~
The other strong features near the close
were Louisville and Nashville and Chicago
Terminal, the former stock, under an in
creased demand, advancing over a point.
while the latter stocks, preferred and COM
mon, sold up over point, on rumors OF
favorable developments regarding control
Of the property.
Confidence in the monetary outlook;
growing belief in the conservatism of the
new President; continued good rail way
earnings, together with yang trade ac-
counts, were the controlling buIlish in
fluences On the other hand, the unset
tied speculation in copper stocks and Lon
don's hesitation were adverse elements.
Hdue HuCT OI- Dy Lie DedTISIlly lHcllneu
traders. but which. however were with
out much effect upon general sentiment.
On the whole. the market closed with.
some irregularity In prices, but with some
strong features in evidence Government
bonds were unchanged; railway bonds
firm and little more active.
The bank statement follows: Reserve
increase. sc, 543 .675; loans, decrease, $6,310.-
800; specie, increase, 81, ,446, 100; legals, de-
crease, 81 ,17O, 200; deposits. decrease. A.-
OH, 100; circulation, increase, $3O2. 100.