Stocks Close Lower as Rail Rumors Hover Over Market
Copper gains draw attention in Boston while U S stocks slip from morning strength. Call money rates ease to 4 percent. London settlement shows reduced American stock bids. Railroads face unverified new issue rumors amid snow blockades, tempering gains and fueling cautious tone.
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Wall Street Gossips on Amalgamated Copper Moves
Special to The Washington Post reports heavy Amalgamated Copper stock activity amid buoyant smaller copper shares. Theories include consolidations under Amalgamated, likely keeping dividends steady. Traders trace buying to Mr Frick influence, note misreads on Southern Pacific, and suspect large holders aim to keep prices down to amass stock. Northwestern capitalization and a new Chicago terminal loom as supporting factors.
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New York Bond Market Report of January 14
The New York bond and stock market closed firmer with varied issues across railroads and utilities. Notable quotes include Atchison, Baltimore and Ohio, Central of Georgia, Missouri, Kansas and Texas, New York Central, Northern Pacific, Reading, Seaboard Air Line, Southern Pacific, Union Pacific, and United States Steel among others. London markets were higher with copper and tin futures advancing, local metals and grain prices steady to higher, and money on call at 3 to 5 percent.
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Treasury balances and market reports across the day
National bank notes redeemed and Treasury balances shown, including gold coin and bullion holdings and trust funds. Market news from New York and Chicago covers flour, dairy, meats, grains, and livestock prices with receipts, bids, and regional quotes.
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