The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-24

NEW YORK, Oct. 23.-Amalgamated
Copper absorbed an overwhelming proper
ton of today's business in the stock mar
ket. For a good deal of the time the
in all others combined and it comprised
about one-third of the aggregate sales
of the day. The days total showed
considerable shrinkage from the re-
significance could be drawn from the
days market. On this basis of inter-
probation, the market 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 the profess
sionaf traders there was an inclination
to draw the inference that the backset
received by the Amalgamated Copper COM
pany would induce a very conservative
market attitude On the part of the Stand
ard Oil party. AS the professional eie-
ment lays great stress upon the supposed
attitude of the so-called leading inter-
ests. this inference caused some senti-
mental effect.
Standard oil Furnishes Surprise.
But the professional impression was
somewhat confused in this regard 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
very excited market for Amalgamated
Copper at first At the opening 10 500
SHARES were thrown upon the market Tor
simultaneous sales, which were made at
S5A down to 34&. Within the first few
minutes of the trading from 80, 900 to 49,
900 shares changed hands. The manifest
inside support for the stock then be-
came etfectfve and rallied it point. It's
fluctuations were constant and feverish
during the whole day. carrying it back
to the opening low point, then completely
recovering and closing at a net decline
of Is.
The decision to shut down the COM
pany's works in Montana pending the de-
clS1on on appeal of the litigation presents
a situation whose seriousness to the cor
pofatlon can hardly be gainsaid. The
principals to the contest exchanged Bit
ter recriminations through publications
during the day. But the impression gain
cd force. nevertheless, that the accumula-
ton of the stock was of a substantial
character and the supply of the selling
showed some falling off in consequence
The forecast of the weeks currency
movement had rather depressing effect
on the late market, as it Indicated de-
crease IN reserves of between So, 000 900
and $4.O00,000. 1t is evident. however
that this is mostly accounted for by the
special movement to Baltimore to re-
HeVe the situation there.
Movement insignificant.
Allowing for this and for the heavy de-
mand from New Orleans it is very evident
that the. westward movement of currency
is still insignificant. New York exchange
at chicago, however, Is declining. Loni
don's renewed uneasiness over the far
Eastern situation had some depressing
effect. The closing was practically stag
nant and showed generally small net
losses.
There is continued absorption of bonds
at rising prices. New York Central gen.
eral 312S advanced today within a shade
of par. When this bond broke par early
in July it was regarded as a sinister de-
to 95. The greater part of its recovery
has been made within the last few DAYS
along with fbe awakened general inter-
est to the bond market. Total sales of
bonds, par value. were 81, 299, 000 United
States rs declined Is per cent on the last
call.
CLOSING List.