Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-09-18
FINANCE AND TRADE
Another Sharp Break in Stocks at
New York.
THE BEARS IN CONTROL AGAIN
London Was Also Lower Because
of War Talk.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK. September 1S.-Early Lon
don market reports showed a severe tension
in speculative circles with interest still CEN
tered on the TransvaaI situation. Amer-
can shares in that market fell we'll below
New York's parity of Saturday last. while
kafrs were much depressed. New York
was reported q buyer on the decline there
and little rally took place In consequence
Cable reports at $50 pm. said the ex-
change markets there had lost much OF
the earlier excitement and speculation had
claimed down.
The feature at the opening in the local
stock market was an almost entire absence
of buying orders at anywhere near the clos
ing figures of last week. Metropolitan trac-
ton opened off three points but soon after
Ward rtcpN cred this loss. Manhattan was
comparatively steady at the start opening
Transit opened down l. fell further and
then rallied II. after which it broke
points.
Colorado Fuel broke 21s points Tennes
see Coal and Iron dropped points.
The general railway list was compara-
lively firm, with the exception OF Rock
Island, which broke 81 points. but after
ward rallied pa.
The early dealings were on a large scale,
but the frequent rallies indicated some
support The lower opening was caused.
no doubt, by an accumulation of orders
from out-of-town clients - some scared
others possibly in distress. at the sharp
break the market experienced Saturday.
There was some picking up of stocks after
the first break by the larger bear oper-
ators and a little commission house buy
ing was also noticeable. London's deal.
ings were on rather a large scale. and by
noon it was estimated that the sales from
that center amounted to from 10000 to
10000 shares of different issues.
Government as We're off u per cent: rail-
road bonds were somewhat lower Money
in the forenoon loaned at and 10 per cent
bid by some borrowers, others had it quiet
ly offered them at per cent. Some bear
pressure was encountered just before the
noon hour, and the general list sagged off
again to almost opening prices. Brooklyn
Rapid Transit, however, became extremely
weak, selling off to 79A-a decline of over
10 points from Saturdays highest figures
This raid did not last long and at the low
er level good many buying orders We're
uncovered causing a sharp recovery in
the market-Brooklyn Rapid Transit rally
ing to 81, while the general list showed
slight advances over the opening.
This advance should go further as the
liquidation in the market for the past few
days has been heavy. and this is expected
to afford temporary relief, at least to the
money market and as the banks not
really suffering particularly just now, ow-
ing to the good rates they are obtaining for
their money. Then, too, in an emergency
they could issue clearinghouse certificates
but there does not yet appear to be any
occasion for so doing. Again, some actual
buying occurred this morning and the vol
ume Of transactions and extent of declines
today alone warrant the view that this Is
probably the culminat ton of the break in
the market for the time being. Shorts too
have not been idle in the weak market to-
day, as one interest alone is said to have
covered upward of 1900 shares of various
stocks.
There was talk in the late afternoon Of a
combination of some large operators to buy
stocks but this could not be verified. The
prospect of money continuing active affords
bulls too little prospect of relief and this
situation is not likely to give them enough
courage to work for more than a temporary
rally in the market. Money eased of to
per cent near the close