Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-09-26
Stocks We're Weak and Irregular
Again Today.
DEAR MONEY STILL 4 FACTOR
Changers Are Neglected in Spite
Of Good Earnings.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, September 26-Trading to-
day reflected conditions similar to those
which have contributed to the irregular
markets of the past few weeks. London's
early cables showed declines extending to
y of l per cent in many instances, and
there was little inclination to assume new
risks at the center.
The money market is the one basic diff
Guilty, rates for call loans continuing TO
advance wherever the slightest addition Is
made to the demand. Loans were made
from to IA per cent during the day. but
the street has become trifie less historical
on this subject. Dear money is expected
and to that extent at least is not menace.
Relief is certain before a great while. but
until its appearance is definitely fixed there
is little likelihood of any considerable new
buying by interests equal to the task Of
turning the market upward.
The engagement of 81, coo, 600 in gold for
import from London and the reported con-
signment of 81 500, 900 from Australia We're
factors which excited rather favorable
influence on sentiment. Money will shortly
begin to work its way back from the in
terror, and the banks may be relied upon
to strengthen their reserves and once more
allow the market to reflect its natural bent.
Earnings We're generally good and of
character which points clearly to a strict
observance of economic methods. even in
the face of enormous traffic business.
Atchisons earnings for the month of Au-
gust may be taken as a very good example
of careful management. Gross earnings in
creased 1851 13S and net increased S1o1 Jt4.
From figures such these many of the
optimistic opinions of the general situation
are deducted. The time for making an ac-
| tive campaign in the stock market is not
yet ripe, and consequently the full effect
| of business betterment is not shown in the
daily fuctuation in prices.
The triple holiday is, Of course, menace
to activity, even though 1t does not seri-
ously concern the actual owners of Securi-
| ties. To pay prevailing fancy, and in some
instances artificial, rates for money during
three days of closed season a the stock
exchange is not a popular condition prece-
dent to an extension of marginal business.
Professionalism is increasing in conse-
quence of those facts and short interest
| is being created in the face of facts which
undoubtedly add value to certain issues.
1t is only natural to presume, therefore,
that the market will rebound from its low
| level through the repurchasing Of securi-
| ties which We're largely instrumental in
bringing about that level.
There is nothing important expected of
| the market this week, and dizziness would
| be as desirable condition as is likely to
| be evolved from the general narrowness
and the uncertainty as to money.
The Traction stocks We're again active
and moved about in the same irregular
fashion as heretofore. The holiday period
Is expected to add enormously to their
| earnings, especially Manhattan, which is
| not concerned with surface crowds
The granger issues fail to make any ma
terial advance and are temporarily out of
favor with the room element owing TO the
condition of the wheat market.
sugar, tobacco and Tennessee Coal and
IRON We're rather too openly heralded as
| the subjects Of the next concerted attack
| by the bear party. A drive at one or moro
OF the industrials is quite likely to suggest
| itself as a means of covering the retreat of
| the short interest.