Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-09-12
The Railway List Featured the
Markets Strength.
ANAL. COPPER WEAKNESS
General Market Opened Decidedly
Strong.
SOME STOCKS ADVANCED 2 FONTS
London Firm in All Guarters-Early
Hour Advances Obliterated.
Local Money Conditions.
ANAL. COPPER WEAKNESS
SOME STOCKS ADVANCED 2 FONTS


NlF'iHl I'i~pHl'H q" III 'N'"''
NEW YORK. September 12--The railway
share list again today gave remarkable
demonstration of strength in tn, face of
the renewed Generalization in Amalga-
mated Copper stock. AS is often the case.
the pronounced weakness of that issue was
attended by Il sharp break in American
Smelling The course of Amalgamate1 Cop
per was perhaps sufficiently explained by
the further decline In the prices of cop
per metal. both here and abroad. In addi-
ton. reports were current that on account
of the labor disputes in Montana the man
agement of tn" ANA gamated company had
decided to close down the Butte mines for
an indefinite period According to some
authorities in the copper trade. such an act
would make very little difference in the
earnings of the company. even the pres
ent reduced prices for the metal are nothing
more than nominal.
All the foregoing circumstances. further
more. naturally gave strong color to the
current ideas that the dividend payments,
both on Anaconda Mining and Amalga-
mated Copper. are likely to be readjusted
at the respective meetings of those com
panies this and next month. The weakness
in American Smelling had no such specific
explanation that in Amalgamated Cop
per but ii the general notion that the
course of both stocks reflected, IN addition
to particular circumstances affecting the
properties the. necessities of large indi-
viduaI holders of both securities
In the early part of the day AmalSa-
mated Copper had shown certain degree
OF frmness. and previous to the severe
break in that stock. the railway list and
the other quarters of the market showed
advances above yesterdays closing fig
ures. ranging from fractional limits to more
than = points. The general market, In
fact, opened with very decided STOW OF
strength. and such stocks as Union Pacific.
Great Northern preferred and Northern
Pacific advanced rapidly to the extent of
about points. Brooklyn Rapid Transit
was also notably strong. as were the rank
and file of the industrial issues.
Stocks Not Pressing for Sale.
1t was the common. although customary.
comment upon the market circumstances
of the first hour that stocks were not press
ing for sale. and were in fact IN scant
supply There was. however. radical
change In those conditions upon the appear
ance of weakness In Amalgamated Copper,
and by the middle of the afternoon the
advances earlier scored had been obliterat-
ed and in many cases converted into net
losses
The days developments apart from those
relating to the copper situation were for
the most part susceptible of a favorable
construction. The London stock market
was strong in all quarters on expectations
of easier money market conditions. based
In part upon todays strong return of the
Bank of England. and foreign houses were
again buyers here to the extent of l5,Ooo
shares
Local Money Showed Renewed Ease.
Local money market circumstances also
showed renewed ease. with much more lib
eral offerings of funds for longtime periods.
The sterling exchange market de-
cdrdly weak as to lead to suggestions that
the usual autumnal import movement OF
gold might be experienced after all.
Transactions in the new city Az per cent
bonds began today In the unlisted depart
ment OF the stock exchange and resulted
In a substantial advance in the quotations
for those securities.
On the other side of the account there
might he named quite an extensive rise In
tke grain market on rather tisfactory
her adVicnS from the west, and no
little Decentralization was reported in the
Philadelphia stock market. although the
tendencies there were said to be due rather
to local than to general causes.