The times. [volume] (Richmond, Va.) 1890-1903, 1902-11-12
LIQUIDATION IN
STOCK MARKET
Outbreak OF o MIRA ization Fol.
lows Morn ng Recovery.
THE. a ..AleAMaIED COPPER
Regarded as Sig 't'cani Because Of
RELATION OF This Stock TO Standard
On company-heavy selling
Ia Souihera Pacific.
lRv Associated, Pres. !,

NEW YORK, Nov. ll.--There was a
fresh os;bt eak of decentralization on the
Stock Exchange this afternoon after quite
substantial recovery had been achieved
this incoming. The manner In which the
market acted ri the recovery was sach as
10 give some preparation for the ene&al
Of heavy liauldation. II Is maxim OF
professional traders after a day OF such
Violent declines as those OF yesterday. TO
buS stocks aha cover short contracts. his
MAS theqcoulse pursued In this mornings
market. resulting In advances of from Ia
: points IN the majority of leading active
stocks or the list, but the absorpfiSe
power of the market showed steady De
crease. as the advance in prices pTCseeded.
Commission houses Were practically aale
and reported that no orders were being re.
cciSed from outside sources ne iilai .ia..
waTcred uncertainty through the noon ia.
cquarimity the early stages of the v1olsnl
Iauidati ton In Aisaalgamated COPPER. :, = ii ie
seemingly endless nutpop!inG. Of this STOCK
eventually undermined the market
The identity of the capitalists in control
OF this corporation with those cni'lrollaIs
nous prestige carried by this group IN
financial affairs caused deep significance
10 be attached TO the unloading IN ANAL
Garnated Copper. As a consequence enor-
nous Incubation was renewed throughout
the list. Some of the stocks which took
leading place in the morning recovery
were the mos, acute sufferers III tie late
weakness Just at the close ST Paul
made 8 spectacular tumble TO l7e. making
loss of So from lasi night. This move
ment was accepted as additional cnrro-
boratiorl. of the urtayorable view of mar
ket values taken by the financial group
above referred to.
There was no new development to &C..
count for the weakness and II was con-
eidered TO be due simply TO the desire on
the part Of speculative holders to tighten
their road further. pending the exigencies
upon the money market which must be
me. between now and the first of the year.
There was evidence of particularly heavy
liauida ton In Southern Pacific In North
western there was a break OF . points:
Isackawanna. $50: Tennessee Coal. 8 and
United States Realty. one OF the newly
launched specialtics AIS. The democrat
tied tone Of the market set afoat various
lurnors of financial difficulties. The rally
An tfeIste dealing. which reached point
In a few active stocks. Indicated q con-
siderable part by the bears in the early
ceiling, But this demand was freely fed.
and the ,narke, broke al the last under an
Overwhelming food of selling orders,
mailing the closing very weak. Many
stocks ended lower than the lowest price
of yesterday. Amalgamated Copper broke
through its previous low record Of SSl2
established Yesterday. and placed It's
record 8 points lower. closing only Y
above that point.
The bond market was more kindly af-
fccted than stocks Total sales. par value.
81 1900 United States bonds We're all
unchanged on the last call.
The total sales of stocks for the day
were $50 30 shares