The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1912-03-01
MARKET
IS IRREGULAR
A~malgamated Copper Had a
Rally Reaching Its High
est Point

New York. March 1.-Irregularity
and dullness were again the dominant
features of the stock market today.
until we'll into the afternoon when
prices Of the first speculative favor
ties moved toward decisively under
the lead of Amalgamated Copper,
which reached a new high level for
the present movement. Such chang
es as occurred, however. were largely
technical being used on the sold-out
condition of the market which induc-
ed further covering Of short contracts.
In the early part Of the session the
movement was checked by conflicting
advices from London respecting the
coal strike situation. Up to the close
of the market this momentous ques-
ton remained settled in spite Of the
earnest efforts of the government Of
ficials. Private cables later we're Of
a hopeful tenor although the basis
for this feeling remained obscure.
Domestic news was OF a varied
character, embracing the reply Of the
federal government to the answer Of
the United States Steel corporation.
which the department of justice was
quoted as regarding insufficient" re-
newal Of negotiations looking to a
voluntary dissolution of the Interna-
tional Harvester company. greater
firmness in the copper market. con-
flicting reports as to the condition Of
the steel and iron trade and a mass
first month of the year. Additional
gold exports to South America were
reported as we'll as a further drain
upon the Of local institu-
tions. which are likely to result in a
heavy loss of cash at this center for
the week.
There were rumors Of some more
financing for the coming month, some
of which will probably take the form
output Of new securities for Febru-
airy was about $240, 600, 900, which
is somewhat in excess Of the same
month last yea but about 500, OOO,-
600 under h total issues of the
month Immediately preceding. For
eign markets. particularly Germany.
are again negotiating for credits here.
these being largely in the nature Of
extensions Of loans already outstand-
ing.
The Bank Of England reported a
decline In its proportion Of reserve
to liabilities Of almost three per cent,
Its returns otherwise being unimpor-
tant. The statement Of the bank Of
France. with its discounts increased
by almost $50, 900. 900 was accepted
as an indication Of unusually large
March payments. The bank lost a
little more than $1,000. 900 gold, and
increased its note circulation by over
$42. 600, O0O.
Earnings Of the Union Pacific for
January showed n decrease in gross
Of $528.000, which by reason Of in
creased cost of operations increased to
a net loss of $791. 900. Southern Pa
cifc, however, managed to increase
It's o returns by a slight margin.
but the net returns decreased $321,-
600. Reading for the same month
recorded a net loss Of $1o6. 900. which
was more than ueutralized by the
profits Of the coal and iron company.
Chicago and Northwestern lost $780,
600 in operating income, it's deficit
after fixed charge being increased by
$4,000. Erie's operating income de-
creased over 5000. 900. Canadian Pa
cifc reported a net increase of $427,-
900.
The bond market was again fea.