The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-01-22

MONEY CONDITIONS IMPROVED
Discouragcment to Buyers of
Stocks Last Week Were But
Temporary.
Especial to The Times. pispatch.)

Especial to The Ttmes-Dispatch.)
NEW YORK, January 2l.-During the
early part OF the past week the stock
market displayed considerable Irregular
lily. but at all times the undertone re-
manned strong. and tho tendency was
Enthusiastically toward higher prices.
A great deal OF Interest was manifested
In tho action OF the directors OF the
Amalgamated Copper Company at their
meeting on Thursday afternoon, and the
copper stocks. prior TO ,Ee meeting, dig
played great deal of nervousness and
were decidedly reactionary. Their action
txetted. undoubtedly, some influence on
the rest OF the market and Mr.. Lawson
took advantage of * to flood the street
with tissues predicting disaster TO the
holders of Copper stocks.
After the increased dividend was de-
clared on Amalgamated. the stock turn
ed strong and the entire market advanced
and showed more breadth and more ac-
tive public participation than ut any time
during the present movement.
Among the railrond stocks. Rendin2 was
the star. and on renewed operations BY
the pool. which had already been so
ruccessful IN IT, 1t advanced sharply, max
ing new high records day BY day. !.
Among other Issues which we're con-
spicuous may be cited such standard Sc
curites as Union Pacific, the Pennsylva-
sues Mexican Central and Missouri. Kan
sas and Texas while among the Indus
trials. United states steel stocks advanc-
cd steadily with hardly q perceptiblc re-
action, while Shelters and Colorado Fuel
both made large gains.
Sentiment was fayarably Influenced by
the increasing ease In money both here
and abroad, and by the improved position
Of all the great foreign banks, while much
f.t.rr f.ft H. a.to %,
lation. and the more favorable outlook for
satisfactory outcome of the Morocco
conference.
Advances were recorded in many stocks
Or Monday. but l!quida,ing orders were
plentiful IN some OF the more active,
ssues. and where this selling appeared,
seaviness was roted at different times
sGring the day. Money SIS compare
lively easy on Monday until the last half
hour, when six per cent. was paid for
ALI funds. This had little effect. how
Ner except In those stocks which gave
evidence Of realizing earlier in the day.
Among these AuialGa;uated Copper and
Union Pacific were the most prominent.
nc close was irregular with the coal
stocks active and In demand.
AT the opening on Tuesday the market
WIS firm fer the most part. although the
buying WAS less aggressive than it had
been AZ tho corresponding period OF the
day for soine time previous. Commission
house orders we're good. although profess
SIGNALS held off 10 see how much they
could absorb After midday the market
was still irregular. but very firm in places
American sugar was firm and showed
some trace OF n short interest. Traders
were Of the opinion that some OF the SELL
Ing might represent a last desperate at
fot.lt hy T.tyx- ",
market. This caused more amisem
than alarm.
Colorado Fuel and Iror and some OF
the railroad equipment issues were firm
features OF the days trading, and the
local fractions were also higher and more
active than usual. Large buying orders
were noted in the stocks OF the Southern
Railroad properties.
The highest prices on Tuesday were
recorded in tho last half-hour. although
some proftt-taking caused irreEnlarity
before the close.
The principal attention was again given
to the specialties on Wednesday. but the
general market was firm, and advances
We're the rule at the close of the Stock
Exchange session
Decided strength was shown i'm Colo
RADIO Fuel and Iron, Smelters, Lead and
other special stocks and Anaigamatcd
Copper was also bid UP In the early
trading. Tie last named issue how
ever, did not hold its gain. but was APP
parently under selling pressure In the
subsequent dealings. Bear tips were
freely circulated and the stock devel-
oped decided weakness in the last hour
This caused more or less selling in other
directions, but advances were noted in
most stocks at the close. Amalgamated
Copper. however, rallied only feeby in
the final trading.
Up to the last few minutes of trading
ca Thursday the stock market was gen
orally strong Tho transactions In
Amalgamated Copper We're on n large
ycale and quotations for this issue and
Anaconda moved back and forth with
great rapidly. 81
This excited trading was naturally due
to the uncertainty Regarding the action
of the Annalgamated Copper directors on
The questions of the quarterly dividend.
The announcement of n straight sin per
cent, rate, or ", for the quarter was
signal for profit aking. and the stock
broke rapidly to the extent of about three
points. There was some recovery from
the low price before the close. and other
Issues also rallied after easing i'll SYM
pathy with Amalgamated.
Fridays stock market was. the broad
est seen in a long time. transactions
we're on an enormous scale. and there
we're few stocks which did not share In.
the gains recorded for the day. Activity
was not confined to any particular quar-
ter of the list, although the greatest ad-
yances were probably in. the hlghersprccd
Issues. ~ e 5s
Z Among these, Anaconda was the fea-
ture, with II sensational rise of about
thirty points from the previous close.
Aenyy profit-taking WAS In evidence
throughout Friday, but these sales We're
easily absorbed and fresh buying orders
again resulted in quick recoNeries from
any slight recesslons In prices.
There was Il continuation on Saturday