The Birmingham age-herald., 1903-10-24
COPPER STOCK
 POUNDED. HARD Took Up Entire Time of the
 Days Trading MARKET WAS VERY ACTIVE Days Total Showed Considerable shrinkase From the Recent Aver ase-Nesatlve Significance
 Only Can Be Drawn.
 
MARKET WAS VERY ACTIVE

New York, October 23.-Amalgamated copper absorbed an overwhelming pro- portion of today's business int the stock market. For good deal of time the dealings in this stock were larger than all others combined. and it comprised about one-third of the aggregate sales of the day The days total showed a con- siderable shrinkage from the recent aver age and none but negative significance could be drawn from the days market. On this basis of interpretation, the mar ket must be said to have offered a good resistance to the days disturbing factor as has been the case during the whole Of the week From the point of view of pro- fessional traders there was an inclination to draw the inference that the backset received by the Amalgamated Copper company would induce very active mar ket attitude on the part of the Standard oil party. As the professional element lays great stress upon the supposed at titude of the so-called leading interests, this inference caused some sentimental effect But the professional impression was somewhat confused in this regard by lnGN dCllOn OI the oldHudIo Oii AeScAA Sih the curb. This stock sold first at points over the previous close, at 63S, and later at GAS, the closing being at $50 bid. There was a very excited market for Amalga- mated Copper at first. At the opening 13,5Q0 shares were thrown upon the mar ket for simultaneous sales which were made at 35s4 down to S41s. Within the first few minutes of the trading from thirty to forty thousand shares changed 10 mi the stock then became effective and ral- lied it a point. Its fluctuations were con- stant and feverish during the whole Of the day, carrying it back to the open low points, then completely recovering and closing at a net decline of 7s. The de- cislon to shut down the companys works in Montana, pending the decision on ap- peal of the litigation, presents a situation whose seriousness to the corporation can hardly be gainsaid. The principals to the contest exchanged bitter recriminations through publications during the day. But the impression gained force, nevertheless, that the accumulation of the stock was of substantial character and the SUD- ply of the selling showed some falling off in consequence The forecast of the weeks currency movement had a rather depressing effect on the late market, as it indicated decrease in reserves of be- tween three and four miIlion dollars.
 It is evident however, that this most ly accounted for by the special movement to Baltimore to relieve the situation there. Allowing for this, and for the heavy demand from New Orleans, it is very evil dent that the westward movement of currency is still insignificant New York exchange at Chicago, however, is de- clning. Londons renewed uneasness over the far eastern situation had some depressing effect. The closing was prac tically stagnant and showed generally small net losses. There is a continued absorption of bonds at rising prices. New York Central general 319s advanced today within a shade of par. When this bond broke to par, early in July, it was re- garded as a sinister development. The price subsequently, fell to 95. The greater part of it's recovery has been made within the last few days, along with the awak ened general interest to the bond mar ket.
 Total sales of bonds, par value, were &. .299, 900. United States 2s declined 1s per cent on the last call.