The Washington herald., 1907-10-09
WALL STREET NOTES
Northern Pacific Stock Star
Performer Of Day.
AMSTERDAM SECURITIES WEAK
Rio TintO the Great European Cop
per Concern hacked by the ROths-
chfIds, Reduces Its DfVidend-Re-
port that large Copper Sellers
Were Taking Orders at IL I-2 Cents.

New York, Oct. S-Northern Pacific
was the star performer to-day. Just
what kind of part it performed II would
be difficult TO define, but that It was star
tlingly meteoric. forcing the little stars
TO hide their diminished rays. all observ-
ers were forced to admit What it all
meant remained undetermined through
out the session, and, indeed, its real sig
niicance, il it had any. may never be
known. Possibly its only purpose was TO
enliven what would otherwise have been
a rather dreary day. If so, it accom-
plished its end admirably.
During the first hour Northern Pacific
occupied a prominent place in the trad
ing, but without entirely monopollzing At
tentiOn. and it was not until about the
middle OF the second hour that the stock
| began to act in way which compelled
| the traders 20 wholly disregard other is
sues or consider them only SO far as they
had a chance of benehting from the re-
fleCted light OF the one shining exponent
Of bullish activity. On enormous trans
| actions the price jumped up to 1928. an
advance OF about Ia points from the low
est previous price of the morning, and Of
5 points from Mondays lowest quotation
Half an hour later il suddenly reversed
its course and declined not only TO a
| level well under the closing OF the pre-
ceding day, but 20 a point where the
profits Of nearly every trader who had
bought on the rise were wholly wiped
cut.
What are known as the Amsterdam
stocks were all weak This refers 10
Chesapeake and Ohio. American Car and
Foundry, Missouri, Kansas and Texas,
and few others. but particularly to the
/ first named The Dutch have always
shown a partiality for stocks Of small
/ price, Amsterdam houses sometimes tax
/ ing these Ia considerable blocks. The
/ buyers retain the actual stock in their
/ possession but sell certificates based on il
/ 10 investors. who may want 10 be inter
ested in any number Of shares, from one
/ up. American stocks of small price are
often selected for this kind OF investment
and held until they have had a large ad-
vance. when they are sold out. and the
/ proceeds placed in another cheap issue
| that, on investigation. promises TO give a
good account Of itself in a reasonable
number Of years. Good industrials are not
/ Disseminated against. and this is the
/ reason why Car and Foundry, although
not as weak as Chesapeake and Ohio. was
/ relatively weaker than others in its own
class.
It was rumored that large sellers of
Copper were taking orders for the metal
/ on a 14l-2-cent basis. but shat, even at
| this level. little business was received.
/ Rumor further asserted that one reason
i for the stiffness in money was the calling
of loans, in which the metal had figured
as collateral and that the same cause
had been IN a measure responsible for
the lowering of price.
Rio Tinto. the great European copper
/ concern, dominated by the Rothschnds.
reduced its dividend from TO 23-S. In
this case, as in the case Of Anaconda.
the reduction was not as great as had
been expected, and il is quite possible
that the Amalgamated declaration may
bring a surprise OF the same sort.