Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-09-11
Fear Of Dear Money Causes Weakness
in Stocks.
COMMISSION HOUSES as SELLERS
London Was Strong and Bought
on This Side
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK. September lin the Lon
don stock market this morning after a
quiet opening. speculation became active
and prices stiffened appreciably. More re-
assuring Transvaal news and the assur-
ance that all was quiet In Paris Impaired
confidence all around International
stocks displayed strength while Kaffirs be-
came fairly buoyant.
Under the lead Of Louisville and Nash
vile, American shares showed gains of
Is to 3-S over our closing prices Satur-
day. This better feeling would have been
more pronounced We're 1t not for the I'M
certainty regarding the monetary situa-
ton here, as the fortnightly settlement in
London. beginning on "Wednesday next is
expected to disclose large short interest
IN American securities.
In the local stock market the flrmer tome
ana better prices in the London market
caused a little buying by the traders on
TINS Side at the opening. and bulls were
disposed to rally the market. Aside from
Tennessee Coal and Iron however their
efforts were unsuccessful, as liquidation
was met in several places the commission
houses doing most of the selling. This led
the room traders to turn about and take
the other eide of the speculation. Expecta-
ton of higher money rates. too, this week
was another incentive to their selling the
general list. Prices yielded rather easily
beartsA sentiment became more pronounced
liz consequence.
On the decline London took little Of the
offerings and there seemed to be some scat
tered support throughout the list. notice
able more particularly in the clique stocks.
This somewhat offset the liquidation by
commission houses at the start and gave
the market a steadier tone
Although money rates were as high as
61a per cent before the noon hour was
reached, large banking interests were re-
ported as saying that they would see TO it
that there would be money enough to so
round and prevent squeeze in the rates
this week. Tennessee Coal and Iron did
not attract much attention. although the
price of this speciality reached 126 the
highest yet on the recent advance.
Its failure to dominate or carry the rest
of the market with 1t may have been on
account of the similarity in the character
OF the trading in it to that of last week.
During the second hour of business Lon
dom purchases had amounted to from fif-
teen to twenty thousand shares of the gen.
cral list, while there was considerable COW
ering of shorts on the Idea that the gov
ernIhent might anticipate interest payments
and perhaps give some other relief to the
money situation here.
On this rally, however, there was quito
an amount of scattered selling by commits
sion houses, and the brokers of at least one
Of the largest operators We're sellers on
an extensive scale. Traders generally
worked the theory that we shall see
dearer money and in consequence some
what lower range of prices during the
week
In the late trading there was renewed
weakness in the general list with the mo It
pressure to sell in Brooklyn Rapid Transit.
This stock broke below 1Dl, at which ng-
ure, however. there appeared TO he inside
support. With money at po~ cent this
non-dividend paying stock looks ra1hey
vulnerable.