The Montgomery advertiser., 1903-10-24
WALL STREET. REVIEW AMALGAMATED COPPER THE
 MOST ACTIVE STOCK. s- Dealings It Comprised About One third the Total of the Day.
 Good Resistance Offered
 by the Market.

NEW YORK, Oct. 23.-Amalgamated Copper absorbed an overwhelming proportion Of to- days business in the stock market. For good deal Of the time the dealings in this stock were larger than in all others combined and 1t composed about one-third of the aggregate sales of the day. The days total showed a con- and none but a negative significance could be drawn from the days market. On this basis of interpretation the market must be said to have offered a good resistance to the days disturb ing factor has been the case during the whole of the week. From the point of view of the professional traders there was an inclina- tion to draw the inference that the backset re- ceived by the Amalgamated Copper Company would induce very conservative market at- dtude on the part of the Standard oil party. As the professional element lays great stress leading interests. this inference caused some sentimental effect. But the professional sen by the action of Standard oil itself on the curb. This stock sold first at points over the previous close at 63S and later at 645. the closing being at $50 bid There was a very excited market for Amalgamated Copper at first. At the opening $500 shares were thrown upon the market for simultaneous sales. which were made at 35% down to 34ls. With In .he first few minutes of the trading from 30. .Ooo to 40 900 shares changed hands The manifest inside support for the stock then be- came effective and rallied it a point. Its fiuc- tuations were constant and feverish during the whole of the day. carrying it hack to the open ing low point. then completely recovering and closing at net decline of <. The decision tc shut down the company's works in Montana pending the decision appeal of the litiga- ton presents situation whose seriousness to the corporation can hardly be gainsaid The principals to the contest exchanged bitter re- criminations through publications during the day. But the impression gained force never theless that the accumulation of the stock was of a substantial character and the supply of the selling showed some falling off in conse- quence. The forecast of the weeks currency movement had a rather depressing effect on the late market as it indicated decrease in re- serves of between three and four million dol lars. It Is evident, however. that this is most ly accounted for by the special movement to Baltimore to relieve the situation there Al lowing for this and for the heavy demand from New Orleans, 1t is very evident that the west ward movement of currency is still nsignif- cant. New York exchange at Chicago. how ever Is declining. London renewed uneasiness over the far Eastern situation had some de- pressing effect. The closing practically stagnant and showed generally small net losses.
 There is a continued absorption of bonds at rising prices. New York Central general 31ss advanced today within a shade of par. When this bond broke par early in July it was re- garded as a sinister development. The price subsequently fell to 95. The greater part of Its recovery has been made within the last few days along with the awakened general inter- est to the bond market. Total sales of bonds (par value) were S2,2e9, 900. United States 2s declined h per cent. on the last call.