The daily morning journal and courier., 1903-10-24
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---- YESTERDAY,S STOCK MARKET.
Inside Support for Ama,gama.ed coppe,

Inside Support for A Amn,gamated Copper
 New York, Oct. 2S.-Amalgamated Copper absorbed an overwhelming pro- portion of to-day's business in the Istock market. For good deal of the time the dealings in this stock were larger than in all others combined and it comprised about one-third of the ag- gregate sales of the day. The days total showed a considerable shrinkage from the recent average. The market offered good resistance to the days disturbing factor. Professional traders were inclined to draw the inference that the backset received by the Amal- gamated Copper company would induce a very conservative market attitude on the part of the Standard Oil party. This inference caused some sentiment tai effect. The professial impression was somewhat confused by the action of Standard Oil itself on the curb, This stock sold first at 6 points over the pre- vious 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 13,500 shares were thrown upon the market for simultaneous sales which were made at 35% down to 341s. Within the first few minutes of the trading from thirty thousand to forty thousand shares changed hands. Inside support for the stock then became ef- fective and rallied it point. Its fluc- tuations were constant and feverish during the whole of the day, carrying 1t back to the opening low point; then completely recovering and closing at a net decline of %. The decision to shut down the conpany's works in Montana pending the decision on appeal of the litigation presents situation whose se- riousness to the corporation can hardly be gainsaid. The principals to the con- test exchanged bitter recrin1inations through publications during the day. The impression gained force, neyerthe- less, that the accumulation of the stock was of a substantial character and the supply of the selling showed some fall- ing off in consequence.
 The forecast of the weeks currency movement had a rather depressing ef- feet on the late market, as it indicated a decrease in reserves of between three million and four million dolars. How ever, this is mostly accounted for by the special movement to Baltimore to relieve the situation there. Allowing for this and for the heavy demand from New Orleans, the westward movement of currency is still insignificant.
 New York exchange at Chicago, how ever, is declining. London's- renewed uneasiness over the far eastern situa- ticn had some depressing effect. The closing was practically stagnant and showed generally small net losses.
 There is a continued absorption of bonds at rising prices. New York Gen. tral general 31s advanced to-day within a sade of par. When this bond broke par early in July it was regarded as a sinister development. The price subse- quently fell to 95. The greater part of it's recovery has been made within the last few days, along with the awakened general interest to the bond market
 Total sales of bonds par value were $2,- 299, ,000.
 United States twos declined. 1s on the last call.