| Show TUMBLE V IN SECURITIES i Violent Decline in Stocks in Wall Street AMALGAMATED LED THE VAN Manhattan Was a Close Second Copper Cop-per Stock Touched 64 58 a Loss of Over Fiv Points Prom Fridays Close Scramble to Cover Caused a Net Loss of Three and OneHalt All Prices Below the Level of Last Saturdays ClosefRailroad Stocks Also Drop SILVER y mcW York tc san Francisco Frncisco I i 1 London v Ln t LEAD rNtrsv York exchange 3 COPPER i New York exchange 7106031700 i New York MeWs New YorkDce7 No new features rew noted in metal circles today L Mllv Un continued stcadv but values wero imchfinrred at 52570S2500 for spot p Topper wAs dull at IGfclTWc for Lake Superior lettgiGfte for electrolytic and sutror castIng 1t rtd and speller remain dull and featureless tureless nt 5137 and 5130 respectively turecBs ruled steady but quiet at S105 1160 for pie Iron warrants No Northern t foundry 51650H1CCO No2 foundry South No 0 foundry Southern 1I6GS15GO Doulhcr cro rjl5S0ZMGOQ and ol foundry Southern 5 soft S1300 1700 The usual absence of W3 from London helped depress the local market Silver nnd Drafts New York Dec 7 I3arsIlvcrrG54c Mexican dollars 43ftc San Francisco Dee 7Silver bars ic Mexican dollars 4Ii4IJr < > I Drafts sight 2c telegraph I 5c Money and1 Exchange I cw Yort Dec 7 Money on call nomInal I nom-Inal no loans prime mercantile paper 4Jifi5 per cent sterling exchange heavy wllh actual business In bankers bills at IJ4S7U for demand aniLat 4S4 I for sixty days posted rates 485 and SlSSJA commercial I com-mercial bills bis HS 1NS San Francisco Mining Stocks San Francisco Dec 7The official closing quotations for mining stocks today to-day wero as follows AHa S r xfa 1 Bplcher 0 Occidental Con 0 B B 12 Ophlr G Bullion r Oerman 02 Caleonia 13 Potosi 0 Chii Con 0 Savago 3 Cola 0 Sierra Nev 03 Confidence 5 SlIver IUn 2 C C Va 1G Standard 35 Crown Point 01 UnIon Con 10 G C 05 Uali Con 05 Justce U F lt 1 Ujh w Jacket 0 NEW YORK MINING STOCKS Am S flef44375 Leadrille 05 preferred 9d llttJo4Chlcf 12 Adan Con 1 lcoCtIet 900 Jlca 45 Opqlr 04 1 I Br eco w Phoenix Brunswick 1 totosl 1 0 mstocJe Tn w STn 0 1 0 I C C Ya 15 Sierra Nov 0 Deadwood Ter 60 Small Jopes 40 Born Silver 1M Stuhdard 35 Iron Silver tn BOSEONINING STOCKS BOSiQ dent4re iSt3 Olp Domn 2300 20 louo2 JO Osccola 5150 AmnlsId6it12Y Parrot 20 Thi1tle O Qulnc 150 DIjghnm 20 S Fo Cop tW CiI H 6 O Tamarale 26 Centennlal 3 5 Trlrnountn 2500 Cop Range O Trinity 3O Damn Coal 62 U S HOJ Franklin Hf Utah 200 ls10 ROYoe 20 VIctoria 200 50 ohlwk 20 Wlnoht 17 Stocks and J Bonds New York Dec 7 Speculators of stocks rushed to sell today and precipi tated a violent decline which carried prices below last Saturdays level leav ing n vestige of the weeks gains Amalgamated Amal-gamated Copper led the van with Man hattan n close second Thc copper stock touched Gl a loss from last night of 6 The scramble to cover nmong the Hhorls reduced the not JOBS to 31 In Man lf hattan the extreme jlucllnc was 1 and tho net loss only 14 The stock touched JvS several tlnn a In Its erratic lluctua lmes lions Is erratc luctua On the first break In tho market n railroad stocks and the steel stocks were Hllle affected und they resisted thc de cline qtoully On the second break after tho appearance of the bank statement the weakness became general at declines declnnH of1 to 3 points New York Central Rock Island St Paul Northwestern Great northern and General Electric wero cs flpeclally weak Tho bank statement was even weaker than expected Thc Wl8 caqn reserves reached over seven mll lions and an expansion of iWo mllllonn In I tnu Joans stretched the legal reserve re le111 quirement so that tho surplus was cut 11nl half and brought to seven millions heavy losses In Amalgamated Copper nc ccasltatcd Sacrifices In other stocks It was manifest that recent pool sup v i SSnL In various stocks had been wltn drawn i < thc Insiders I having presumably talceni their profits on tho weeks rise ine transfer of funds for speculation to 1H speculuton t tno grain and cotton C bain markets Impinges anI colon In tho supply aCallable for tho stock mur Kci Cl Liquidation for account of an Im portant firm about to retire Is believed reLro beleved to figure largely in the selling The clng ncute weakness of American tin can Stocks on the curb was an Incident of the flay f ni market The closing wnd feverish r but ut slightly better than Hlghl btlr tho worst There have been periods of general Elrength In the stock market this week nhnni polnti of continued strength but thc lpirlt ot doubt has been sufficiently ob louH Tho operations Were by profes Oionnl lonl8 oinetlmcs combined Into strong Pools nod by banking interests and large cpltaluts ih I ln ii c mmlsQl n10U8e report that thern HP Is no cvldcnC that tho general pub jic which makes tho really good periods of reall porlO8 the Speculatiomi has taken any Inturcat In c market 1hI919 accounted for Inn I In-n nV no doubt by 1 the large diversion of n ntcrst to the cereal marJccts In which > a ttiL rampant vetk speculation inns raged during I bi The PcsWcnt1 message was a favora c il nUuece In the stock market esp cll ant the bear had sold thc market flfiticlpCtiOnof tho expectation of a 1e 1 aitltudo on the part of tho Chief lzistrat v against the Great comblna lon srent to ons of capital Tho buying by tho bear cover after the contents of the mcs Sm ccilmo Known argued that the doc ument did not meet their oxpcctatons In I fii ° 3r ot J illat stocks which advanced thin lug tine wctk lI 1 rather conspicuous < nev erthekas corned ii by tine bsenco of those con naMnn directly j or Indirectly in tho for tniation or lnUon ° the Northern SecuritIes com any S and of ouch stocks ns the United ltt Steel l corporation and Amalga fllfltrd topper cornorton copper security has had ted iL withIn 8 own special consideration to con Tho dlz < us lon of tho progress making In a m proge3 the tine thl Illan involved In tine formdt0n oC been Northern Securities company has 1 th without my further Information on wt aUbiet from those concerned Ifn Tho meeting of Western railroad pros I dent5 rllrod dento coliccl to discus thc new condl 10nH nnd to further thy community of In tCrcls WAS without tho attendance of the alo rot Ilromlncnt of the executives ex I I iri It I tc Ind the Intimation was given that IiOn I wrt5 In considered wise to hold the dlHCUH P LtbeyntITeO A number of directory elnJ < 3 In th p rnllroiulB Concerned In thu flltiinj Securities company warn vx Plnlnl no Iluc to a purpose to avoid quiH 1 Heblo to rise out of tho nntl it merger hi laws oC the Norlhwcolcrii State I fan to also that tho money ojitlook MVifV1 year IR noL altogether Cllenr owing to tim international sItuation Leant gold ntthSurgr W ltlutlon but rold W1t out than wnnt expected nIIninrntly lut fltrter requirements are to bo < mct Cntltoul are more Improved from the mitricet In Germany ant thc Berlin money I lnrlrl has iKen eany but the yearend reItuirflnn cnu there aro very many Money Jarcl Is expfc1 In lunllon to tile Cfl yr thl or Year ParlH 1mB renewed tho bu discounts 1 London bUl money rates havo ndvancad again In Paris and sterling exchange at Paris lms declined Tho prospect of further gold exports from Now York Is not viewed with cqua nlmlnlly by speculators especially on account ac-count of the continued depletion of tho bank reserves here on domestic account Against these factors admonishing to precaution Is the Indubitable fact that tho countrys business and industries are still on the upward trend Bank clearings for I November were In excess of any previous November In the countrys history nnd I It Is notable that tho ratio of Increase Is largest outside the great speculative centers tersRailroad Railroad earnings continue to show increases In-creases ovor those Of last year though in 1 somewhat diminishing ratio Tho earlier ear-lier fears of wide inroads upon railroad earnings on account of tho shortage In the corn crop aro giving way to a conviction convic-tion that the general merchandise movement move-ment Is more than sufficient to offset this as Il did In the case of the wheat shortage short-age lust year In the Northwest Complaints of Insufficient car supply to carry the freight offered come from all parts of the country and railroads aro Increasing their supply 0 equipment and I making improvements to Increase their I carrying capacity There Is apparent confidence In tho continuance demands Ion I-on their reserves The present activity of tho Iron trade and tho demand for future requirements I continues to break all records General trade hlal lines Is report d active and I prosperous Thc contrast with thc commercial J I com-mercial and Industrial depression reported In foreign countries Is striking Increasing Increas-ing attention I Is given to the course of our foreign trade which reflects the depression depres-sion abroad Tho question is l asked whether this condition of tho outside world can fall to find an ultimate reflec tion upon our own conditions Our iron and steel exports have fallen off 23000OCO or 21fi percent in ten months of 1901 compared with the corresponding corre-sponding period of lOO In copper tho decrease has been 23000000 also but the percentage Is 455 It Is claimed that tho doniesllc requirements of Iron and ntool are so large that none can be spared for export Tho upset caused Mn the copper trade by the decline in the export demand la I however very obvious nbtwlthntnndlng tho confusion and obscurity of the present pres-ent condition In that trade The decrease In exports Is most marked In thc two commodities named but the declining tendency of foreign trado Is n clear It Is a patent fact that while enormous progress I pro-gress has ben made In tho wide distribution distribu-tion of capitalization of financial combinations combi-nations some of tho most important part of it Is stll In tho hands of the nyndlcates and capitalists who projected It There has been a good demand for railroad rail-road bonds this of tho I s llls week mostly spec ulat vo add Hcmfspoculntlve class The I United States refunding 2 advanced and the 3 regular par cent over tho close of last week J > BOND LIST U S ref 2 rcglOS A U S5s coup10j 1 S ref 2s coup109 Colo So 45 r US Ss reg103 D R G 4s1034 U S 3s coup 10SS Nor Pac 4s 1054 U S WJs rcG13 Nor Pac 3s 72 U SJitscOUp13Pk SO Pac 4s 02i U S oldls reglllVb So Ry fcJ rt U S old 4s coup112 Union Pac lsl U S5a rega101 UP conv is 103 CLOSING STOCKS Sales High Low Close Atchison 20300 78 iG 77ft preferred 0200 99 i 9 99 JBhltOhlo J < G300 1033t 102 10211 preferred 203 95VA D5 9 9Y Canadian Pac 45W 113ft 112 112 Canada Southern 600 SJV Slt 8 Cites it Ohio 5600 4714 40 46 Chic it Alton u 1500 35V4 35 35 preferred 100 7771 774 77 = 1 Chic lad it L 20000 4G > 45t 45 preferred 100 74 lf 7IV4 l 74V 71 jlY Chic G W 7000 23V4 22 L2 ZY A preferred SOO S 87 8 B preferred 100 15 45 44 ½ Chic N W 10D 202 2031 203 Chic R I Pac a 2300 150 117V 148 Chic Term T GOO 15V 15ft 15ft I preferred 1100 29fc 29 28 C C C < fc St L 1500 98 9i H7b Colo Southern 3100 lift 133 1 1st preferred 10 56 603 5ei4 2nd preferred 2 Dole Hudson 1200 171 170ft 170Va Dela Lack 8 West 100 1 241 240 211 D < R G 6j 14V I 41 ½ 41 preferred 300 93 93 92ii Erie 14300 41 40t J 40ft 1st preferred 6100 713 7on 71 2nd preferred 1700 57Vi 6 5C5 G Nor pfd 1000 187 185ft 18Gyt I I Hocking Valley 1100 6 61 G2 ½ preferred 10 S181 80ft Illinois Cent 4000 13 137 137VS I Iowa Cent 100 37ft 37ft 37 ½ preferred 7 L Erie cc West 6 preforred > 1 120 Louis Nashville 7900 107 10GV 101 Manhattan L G7900 13G 1 131Y 13 l Met St Ry 7900 162 1GOV 161 Mexican Cent 202 22V 2 I Mexican Nat 1500 11V6 2Y U Minn = St L 100 106Vi t 106V lOG Missouri Pac 14200 1033 102ft ln Mo Kan t Tex 2 preferred h 10 52 50 501 New Jersey Cent 200 179 178 5Y Now York Cen 1G500 167 151 154 Norfolk West 5900 577 57V4 67 preferred 90ft Nor Pac pfd 3500 100 10 1003k Ontario West GJOO 31ft 33i 3 Pennsylvania 22100 149ft HSY 1IS Reading 16500 i901 4SVi 4S A 1tl preferred 3100 79I 7 7 2nd preferred 4200 5SV4 57Vi 57i I St L S 1 1100 62 61 = 52 1st preferred SOV 2nd preferred 1000 70V6 70 70ft St Louis S W 200 271 ½ 274 2 27Y preferred 40 59 5S 5SVj St preferred Paul S0100 G 163 6Y S5 Southern Pac 19100 59i 5 5Si Southern Ry 16200 33ft 32K4 37 preferred 3100 92 91V1 91 Texas Pac 3100 S9 33Vi 3S TolStLW 3Y 3 3 IDI preferred il Union Pac 50600 101 ¼ r 100 preferred 2500 S9ft SS ½ SSV Wabash 2200 22 ¼ 21V4 21 y preferred 10200 4lVi > 40Y 1 4034 W JtLake Brio 200 18Vi 4o1 OY 2nd preferred 100 2 2 29V4 Wisconsin Cent 400 20i 20 29Y preferred 10V4 Express Companies Adams 185 American 8 United States 0 Uells Fargo 190 Miscellaneous 19 Amal Copper 130700 67 G4 I 6GA Amer Car F 500 SG SS GAmer G-Amer Lin Oil f l JG preferred J5 Am S 5 R 3000 13 43 Uft preferred 100 97 97 9Gft Anaconda M Co 0200 31 2 20c Brooklyn R T 7300 03 G2 6234 Colo F 1ron 1300 0 S3V4 89 Con Gas 1300 216 21G 215 216 Cent Tob pfd 117 Gen Electric 1 2500 2S3 2SO i ISOVi Glucose Sugar 400 40 39V 29ft HockinG Coal 400 1C 16 16 Interim Paper 100 201 20l 20V preferred 78 Interna Power 10 S9ft 60ft S Lacledc Gas 9 Nat Biscuit 10 43V5 43Vt 43 Nat Lead 100 17 li 1O 1 17ft 17 Nat Salt pfd G2 North American n 103 92 > j 92V4 02 Pac Coast SOI 73U 73 73 Pac Mal SOO 47 II 44VS Peoples Ga i 3300 ff 9SV6 9Sft P Steel Car O 12 41 42 TT t Hf preferred Ir 8 Pullman Pal Car O 216ft 21GV 215 Republic Steel 1000 152 216U lo preferred 3 CDV4 G3V4 63 i Sugar IGtlOO 122ft 123 120 Tuna C Iron 3400 G3 1y G2Vi Union Bag P Co 14 preferred < 7ju U Leather 1900 11 1l t nsj preferred 1 fJt 3 SB Sift siVi U S Rubber 1000 15 15 15 preferred Con DL rl 51 U S Steel T 3510J 12ft 4H 41 prcfurrnd 24100 D2Vfi 9I4 934 West Union 2600 I1n 91 Amcr Locomotive 2000 31ft 3091 31 preferred COO S3 87 S3 Total sales for the day 14100 Weekly Bank Statement I New York Dec 7The statement of the Mssoclutcd banks for the week end lug today shown Loans SSlto52000 Increase 5332800 I Deposits 935658100 DcprQusc 1710100 Circulation 319SfllOT Increase 11400 Legal tenders 71810500 Decrease 578700 Specie 1G353070 D crcace GGjnSO1 I RoaorvoH 2J1347tfQ Decrease 723J500 I Reserve required 2347S02C3 Docrcaso 427000 Surplun 0007075 Decrease GSOG900 rho Financier says It In to bo observed that the decline from tho banks into the treasury last week was largely dup to tho exceptional movement of a retirement of circulation by Interior institutions and also that there can be no similar retirement retire-ment cf note at least until January the law limiting such operations to J3000000 per month The movement of money through transfers trans-fers to tho Interior was likewise excep tional Tha estimate by tine Department of Agriculture of a smaller crop of cotton cot-ton than had been expected caused a bull speculation from the staple thus Increasing Increas-ing tho requirements for money to carry the latter m store and to move It from plantations The transfer to Chicago which wore notably largo at tho end of tho week were mainly duo to the fipocu latlon l In grain at tho Western centers It Is probable that these speculative movements In cotton and grain will soon subsldu and hence It seems likely that not much additional money will bo needed from this center for such purposes Tho foreign exchange market probably will bo affected this week by tho active money which will be expected to result from tho low bank reserves hence gold shipments to Europe may be held In check I unless there should bo urgency In tho demand for tho metal for export Considering Con-sidering the facts noted the bank statement state-ment may bo regarded as of such a character char-acter us not to excite apprehensions of prolonged activity In money as the result of low bank reserves Should higher rates for loans prevail however such rates will of themselves tend to attract mono from Eastern and nearby points thus relieving any unduo stringency In the situation Foreign Markets Now York Dec 7Tho Commercial Advertisers London financial cablegram says Tho stock market today was Idle and heavy having bicn dominated by tho big slump In American shares London Is apathetic but takes a gloomy view of the monetary outlook In Now York Copper Cop-per shares ns well as American stocks dwindled throughout Rio Tlntos declined to 4Htc One million pounds nominal Telephone Tel-ephone proferrdo has been underwritten by the Morgans and It Is reported that that house inns placed 90 per cent of tho Issue l November trudo returns show a doorcase In Imports of 59 per cent and In exports of 72 per cent London Wool Auction London Dec Offerings at tho wool auction sales today amounted to 1273G bales Competition was spirited There sVos an excellent demand from the homo i trade for New Zealand merinos and Germany Ger-many bought Queensland scoured and I Victoria grades freely An occasional i purchase superior crossbrcds by American I Amer-ican i buyers caused keen competition and I an upward tendency to prices During tho week 133500 bales wore offered of I which 11000 were withdrawn Sllpes were in i increased demand and showed a steadier I stead-ier i tone St Louis Wool Market St Louis Mo Dec 7 Wool Steady Territory and Western mediums ½ cine c-ine llsjlSc coarse Hffl4lAc San Francisco Wool Market San Francisco Cal Dec Quotations on wool hero today were Spring Nevada Ne-vada 10U12c eastern Oregon 213c val lev 1 Oregon lafjISc Fall Mountain lambs S0c San Joaquin plains GSc Humboldt and Mendoclno 103jl2ftc Live Stock CHICAGO J Chicago Dec 7 Cattle Rccelpts 400 Steady good to prime nominal 650 1 750 poor to medium 400 1 623 stockers and feeders 225 < iI160 cows 1250175 heifers 250 550 canners S125tfr230 bulls 2OONi5 calves 2GUgGOO Texas I fed steers 1 057525 Hogs Receipts 28000 Monday 50000 I left l over zoo1 5lpc lower for bulk Mixed and butchers jS0020 good to choice heavy 585iG40 rough heavy I JSGOH > S5 light 525590 bulk of sales 80620 SheepReceipts 1500 Sheep and lambs steady good to choice wethers 3GO415 fair to choice mixed 5275360 Western sheep 300jMOO native lambs 2503325 Western lambs 200J483 I KANSAS CITY Kansas City Mo Dec 7 Cattle Receipts Re-ceipts 100 Unchanged I Hogs Receipts 12000 5 < 10c > lower Bulk of sales G005 635 heavy 635fGBO packers pack-ers SGlOJfGSo medium GOOg630 llghU I So50S625 yorkers 5403J610 pigs 475 550 Cheep Receipts 500 Unchanged Muttons Mut-tons 30 > > JMOO lambs ROOSMSS OMAHA Omaha Neb Dec 7 Cattle Receipts 100 Nominally unchanged Native beef steers 4 OtygCGO Western steers J375 < 7 > 525 Texas steers 350440 cows and heifers OOLiJOO cnnncrs 160 2DO stockers and feeders S276 < n4 0 calves i J300ij576 bulls and stags 175 < fl > IOO Hog Receipts 13500 Gc lower Heavy 1605 625 mixed GOOff G05 light SSSOfi 605 pigs 450575 bulk of sales 600c 605 Sheep Receipts 1000 Steady fed muttons I mut-tons J5051390 grass ethers 5300S335 ted lambs 440w500 grass lambs I 376i 435 owes S250330 common and stock sheep J2CO315 15DENVER DENVER Denver Dec 7 Cattle Receipts 100 Steady beef steers J3751EO cow3i250 360 stockers and feeders freight paid to river 53250410 bulls and st gst160 > 300 Hogs Receipts 400 lower light packers pack-ers 615 620 mixed and heavy 56208 > 625No sheep ST JOSEPH St Joseph Mo Dec 7 Cattle Receipts Re-ceipts 700 market steady Hogs Receipts 9000 market steady to lOc lower light and light mixed 703 > G30 medium and heavy GlffG50 pigs 375510 Sheep Receipts 200 market steady |
