Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-09-25
Bears Had Control Of Stock Market
Again Today.
STRONG SHORT INTEREST DEVELOPED
Net Loss for the Week of From
2 to 8 Per Cent.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, September 2a.-As the re-
suit OF extensive realizing and concerted
short selling. the net result OF this weeks
business at the stock exchange is reflected
In concessions varying from TO DER
cent. The entire week. with the possible
exception OF Tuesday. has been given over
10 profit-taking and the revival of short
selling by professional traders The infiu-
entail interests identified with the rise have
withheld their support, and in some in
stances have been detected as the princi-
pals In the selling movement.
The effort 10 support the market was
abandoned after one days experience,
at the advance.
The borrowing demand has Increased
noticeably in consequence of this move
ment and 1t may be reasonably inferred
that a majority Of the sales require one
more operation, to complete the transaction.
The coveringAprocess should therefore be
attended by SOD sharp rallies. As the low
est prices Of thu week were recorded right at
the close OF Mays business the short
interest cannot credited with the slight
est indications = nervousness While long
stock has beel sole In quantity, A. has
not been sacrif ed, except I'm cases where
overconfidence had led 10 the extravagance
Oh Otertfa0inE.
From this circumstance 1t may be ar
sued that the reasons assigned for the
original advance are still held to be opera-
1--WE, ana that a decrease in professional
operations will be followed by an increase
in values
Conditions out eide of Wall street CON-
tinue to indicate .fiourishing business pros
poets. and. with the possible exception of
me yellow feveS scare. the overbought
condition OF the i.sarket Is the only ally OF
the present operafprs for the decline
London bought 6 fair amount of our Sc
curtties To-Day. ana should interest at that
center be continu. Il the decline should be
Drought to an abrept halt during the COM
ing week. IL is a.gued that earnings are
good this season simpiy by reason Of the
utter stagnation or all business I'm the few
weeks preceding the elections last fall.
This statement Is entirely true on the sur
lace but the fact that increased dividends
are in prospect, where not actual indicates
that the percentage of Improvement is on
scale equal to the repairing OF the ravages
OF the panic period and to leave a COM
Portable surplus for distribution
IL Is the surplus fund that will govern
ana not merely the ratio OF increases and
on this basis there is no cause for appr.-
henoing either that the market is I'm for an
extensive decline or that the advance has
been permanently abandoned.
The bank statement is more favorable
than was generally supposed
The loss In lawful money is s6J00.00O
and the decrease In surplus is only Sa9Do-
GOO. bringing the total reserve holdings
DOWN to S15.997, 800. A decrease OF g. 100
600 In leans reflects The liquidation in Sc
curities during the week With money
rates slightly higher. II Is not surprising
that ofhces heavily long of stocks should
lend them temporarily to venturesome
short operators.