Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-12-09
Amalgamased Copper Still a Disturb
ing Element in Stocks.
WHOLE LIST UNSETTLED TODAY
Call Loans at One Time Reached
7 Per Cent.
GENERAL MARKET REPORTS
'ecial Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, December 9.-Saturday's de-
cline In prices and the consequent calling
for margins In speculative accounts found
reflection In enforced liquidation during the
first half Of today's session. Call money
advanced to per cent during the morning.
indicating shifting Of loans and a grow
ing mistrust OF speculative conditions.
Traders covered a considerable line OF short
stock. but this buying was practically all
that came into market
Around delivery hour the advance was
very sharp, prices getting up to the best
level OF the day under the impetus OF de-
cline in money rates under per cent.
a.. AmaIgamated, Copper was feature Of
the trading, opening at a decline Of III per
cent and later advancing more than 4 per
cent from that low level One broker alone
was credited with purchases Of $1,000
shares OF this stock. circumstance which
recalls the remark made by director Of
the company last October that he would not
begin to cover short stock above 6o.
In all parts of the street severe crfti-
cisms are to be heard on the subject of the
years manipulation in copper, but thus
far no defense has been set up. That the
entire market has been hurt by the copper
episode cannot be doubted and public in
terest will be of slow growth in conse-
Quence. AS the dividend on copper will be
determined within the next ten days It Is
likely that there will be numerous conflict
ing movements during that period. Should
the decline give way to a better demand It
is expected that the railroad list would
move up slightly and remain steady during
the doubtful period incident to the prepare
tfons for the January disbursements.
The buying OF Missouri Pacific was said
to represent demand from inside sources
and served to bring the Gould group into
new prominence. Wabash issues were
noticeably strong and active under a fair
demand inspired by that oompany's i'm.
proved prospects. The buying Of Reading
on the decline was called good, but Erie
and the balance Of the coal group reflected
Union Pacific and st. Paul were decidedly
heavy during the morning, and the street
was induced to believe that the heaviness
was due In some measure to the uncer-
families of the Northern Securities Com
pany incident. The failure of the Minne-
sofa delegation to carry out the plan for
going to Washington to protest against the
merger of the several properties in the
northwest was construed to be q Develop
ment favorable to the enterprise.
The advance in the call money rate dur
Ing the morning resulted in some selling OF
the industrial shares on the theory that
they would be the subject Of discrimination.
Declines resulted in the steel stocks and q
Few smaller issues, but the selling was in
the main professional. American Car and
Foundry was an exception to the general
trend Of the market and reflected a splendid
demand at all times.
Rumors that the company had contracts
on hand for more than 1000 cars of vart-
Gus kinds helped the demand and revived
the runor OF an increased dividend In the
common stock
Final prices were irregular, but the SELL
Ing movement had apparently exhausted
market in a steady but hesitating condi-
ton.