Evening star., 1909-05-10
TRADING IS IRREGULAR
Sharp Decline in AmaIgamated
Copper UnsettIes Prices.
FOREIGN HOUSES SELLERS
Most Pronounced in the United
States Steel Shares.
SOME VERY ODD COMPARISONS
Number Of Substantial Advances and
Equally Material Losses
Scored.
FOREIGN HOUSES SELLERS
SOME VERY ODD COMPARISON!
Special pIspstch to The Star.

Special Dispatch to The Star.
NEW YORK, May 10.-This was a day
OF comparatively small things In the
stock market in respect both OF activity
and Of the extent of price movements. and
on account Of the somewhat spasmodic
fits Of animation the market presented a
really duller appearance than was borne
out by the sum total of the days trans
actions.
At the opening OF business the dealings
showed the irregular and rather reaction
ary tendencies which prevailed at the
close OF the market on Saturday. The
initial tone was succeeded by quite Wig
orous rally. but later price movements
again showed q considerable degree of un.
certainty.
There was little of novelty and i'm
portance to be adduced in connection with
these various shifts in the tendencies OF
the dealings. The London stock market
was likewise rather heavy, and foreign
houses were sellers here on balance upon
a considerable scale, particularly Of the
United States Steel shares and Union
Pacific.
It was probable, in fact, that early de-
little to do with shaping speculative SEN
timent SO far as the general list was con-
cerned Another factor in the irregular
course of the market was an early sharp
decline In Amalgamated Copper, which
stock, 1t may be recalled. was one Of the
firmest features of last weeks dealings.
Selling Amalgamated Copper.
The selling of Amalgamated Copper was
ostensibly based upon the monthly repor,
Of the producers association, which
showed a further increase in the supplies
on hand, although the gain during the
month of April was really trifiing in com
parison with those recorded in the earlier
months OF the year. In fact. copper met
al. in contrast with the stocks Of the
copper producing companies, was decid-
edly firm.
In other directions it was difficult to as.
sign specific causes for the movements OF
the particular securities. In fact. through
out the day the market presented the
spectacle of a number Of securities max
ing substantial advances, while in other
cases equally material losses were scored
list were Atchison. the Rock Island
shares. Reading and st. Paul. No definite
explanation accompanied such pressure
as was reflected by Union and Southern
paratively heavy. The local traction is
sues once more relapsed into relative
stagnancy.
The selling for foreign account previous
ly mentioned was pronounced in the
United States Steel shares and was in a
measure responsible for the uncertain
tendencies of those issues. At the same
time the maximum declines in those se-
curitfes were by no means noteworthy In
view OF last weeks substantial advances
Fluctuations General.
Fluctuations in the industrial and mis-
cellaneous group in general were fully
as irregular as those exhibited elsewhere
American Cotton Oil. Virginia Carolina
Chemical and American Can preferred
were decidedly firm without any reasons
of novelty being advanced in connection
with their course.
Money market and foreign exchange
circumstances showed little alteration and
the days routine situation in general pre-
sented few points of interest.
For the first time in several weeks the
stock market did not have to concern it
self with the possibilities of important de-
cisions by the Supreme Court at Wash
ington. Neither were the developments In
the grain market of much consequence in
a stock market sense. notwithstanding
the return to the scene of his activities OF
the leading figure in the recent buIlish
manipulation of wheat.