The age-herald., 1902-03-13
ANIMATION IN
 STOCK MARKET Strength, However, Did Not Permeate Whole Exchange COPPER IS AGAIN ACTIVE There Was Evidence of Liquidation, With Only Occasional lntermis- sons in the Decline-Rumors
 of a Reduced Dividend.
COPPER IS AGAIN ACTIVE

New York March 12-There was some show of animation in today's stock mar ket on an upward range of prices The strength did not permeate the whole mar ket, but there were more of the usually prominent stocks concerned in the move ment than has been the rule recently The most conspicuous of these was Amai- gamated copper in which there was evi- dence of liquidation with only occasional intermssions during which the fall re- ceived a momentary m check. The extreme decline reached 44s points.
 The selling of the stock was accom- panied by rumors that the next dividend will be reduced or passed. No authori- tative information was to be had on the subject nor on the many reports that the marketing of the company's surplus stock had involved heavy losses. The weakness of this stock gave an occasional check to the advance at other points but did not materially affect the strength of the market. Covering by alarmed shorts seemed to play a part in the advance, es- pecially in the coalers, which have been freely sold on rumors that the anthracite miners were determined to push demands that would not be granted Today equal ly assured predictions were heard that there would be no labor troubles in the coal trade and that there was no room for dissatisfaction. There was no authorita- tive information on this subject. An other case where speculative sentiment was reversed from that of yesterday was the outlook of the winter wheat crop on reports of copious rains in Texas and the Southwest. Buying to curtail short contracts were particularly effective in Missouri Pacific which also had the ad- vantage of reported increase on gross earnings for the first week of March The calmness of the money market was the final factor of a general character of thel strength in stocks. The rate of money is firm and nobody is found to pre- dict an early relaxation of rates but nothing was treasured today that there is no immediate danger of forcing a condi- tion of stringency. It is supposed that the trust companies are putting out loans at the high rates and thus relieving some of the pressure upon the banks 1-iis shifting of loans from the banks to the trust companies does not effect any real strs'- .honing of the money situation as f ', reserves of the trust compa- l 3n deposit with the banks and nate reserve against the loans is unchanged, but the legal limi- tation cn the banks to keep up the cash reserves to 25 per cent of the deposits. makes this reduction of their loan and deposit account desirable for its shifting of deposit liabilities upon the trust com panies which are not compelled to main- tain any fixed reserves.
 The foreign exchange market indicates also that loans are still being renewed and extended from foreign tenders. Spe- cial strength was shown today by Gen eral Electric, Westinghouse Electric, North Am erican, the Virginia Carolina chemical stocks, the cotton oil stocks, the Reading and Peoria and Eastern. There were gains of a point or over for a large number of stocks which were modi fled by late realizing movement
 The bond market continues rather ir- regular and moderately active.
 Total sales par value $2.218,324. United States bonds were unchanged on the last call.
 New York Stock Market
 By Private Wire Murphy & Co.