Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-10-15
Another Day Of Weakness and De-
clines in Stock Board.
SLIGHT RECOVERY At THE CLOSE
NewYork Political Campaign Con-
tinues to Be Bear Factor.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK. October 15.--Liquidation by
commission houses and traders sales at
tracted by such offerings combined in fore
ing lower range of prices in all depart
ntents this morning. London cables re-
fiected moderate Improvement at that GEN.
Ter and brought some buying orders into
the local market. The total purchases for
foreign account exceeded 25,OO0 shares
Nashville and St. Paul being especially
favored in the buying
Notwithstanding this demand the effort
10 advance. or even sustain, prices proved
total failure during the forenoon. Buy
ing invariably lacked significance. the
covering of short contracts being the only
operative incentive to rally.
During the afternoon a sharp recovery
Ioliowed room effort to cover stocks al
the end of the week, but beyond this Gus
tomary evening up process there was no
demand.
The purchase of some 5000 shares by a
proker representing the mysterious Glen
teie which figured SO conspicuously in the
summers advance attracted some atten-
ton and forced some covering. Buying on
descending scale is practically the only
process meeting with the approval of the
conservative interests.
Local politics are disturbing TO capital in
the same relative degree that the monetary
problem was last November. The issues
al ISSS consequential dllu decidedly more
local than national. yet their significance
is keeniy felt, and Investments are I'M
questionably delayed pending a decision at
the polls.
Rumors, wholly unfounded. predicting an
adverse ruling by the supreme court on an
important railway suit were circulated in
order to further the decline. For a time
the device was successful, but the moment
its influence waned, Cuban difficulties were
pressed forward to fill the gap in manuiac-
tured motives
No matter what argument is advanced in
justification of the markets reaction, the
one finding universal Endorsement: is the
Simp-e one OF an increased supply and
decreased demand. Profits have been taken
en- an extensive scale, and tardy partic-
ipants in the summer advance have taken
hold where experienced interests let go.
The result is that prices have been shaded
to meet a demand, and, finally. as the
recognition of the markets radical change
Became apparent first one security and
then another has slipped from the incom-
petent grasp of the small operator.
This has been the daily record of the
present week.
The end of the crumbling. as always will
come with one day of enormous transac-
tions. when the last of the small margins
will be exhausted and traders will cover
outstanding contracts and return once
more to the long account. In view of this
prospect accounts are already being put
into shape to warrant liberal purchases
around the bottom of the present move
ment.
Every rally thus far has been short-lved
and In almost every instance the volume of
business fell off with each half per cent
recovery. During the final hour today the
recovery varied from " to per cent.
Chicago Gas, Sugar and Manhattan all
advanced under a professional demand.
The granger shares also developed some
elasticity and Went up sympathetically.
Rumors of a concerted effort to force the
llquidation OF short contracts in Chicago
Gas were circulated toward the close of
business. The bidding of l per cent for
the privilege of calling the stock tomorrow
three points above today's price mad a ten
dency to create some apprehension among
the short interest.