Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-09-15
FINANCE AND TRADE
Sharp Break in Price of Brooklyn
Rapid Transit.
BEAR RAID ON WHOLE LIST
London Was Weaker on Account
of TransvaaI News.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, September l5.--In the Lon
don steel market this morning speculation
SHOWED, some weakness on belief that
Transvsal matters are not as clear OF So
luton as was supposed yesterday and the
day before. kafiirs yielded appreciably,
while Americans were dull and fiat, with
the exception of St. Paul. which sold down
Il point below New York parity caused.
no doubt. by disappointment over action of
that roads directors at its meeting yes
terday.
in the local stock market the opening
was influenced by the decision of the ST.
Paul directors not TO Increase the dlNt-
dend on that stock, and also by lower Lon
don quotations and extreme weakness. as
was the case yesterday in Brooklyn Rapid
Transit stock. This speciality, after OPEN
ing off Is per cent declined sharply points
further, on heavy pressure of selling
ders, said TO be not Only for the bears, but
also liquidation of long stock on stop
loss orders.
Flower & Co. We're still reported to he
buyers of the stock on the way down, but
from the amount of stock that came out
on the breaks. it appeared as if some large
interest had ''et go a large line of
its holdings
In the early dealings the general list
with the exception of Tennessee Coal and
Iron which fell points-declined less than
a full point
a bear raid on the market was in pro-
gress al the noon hour and Brooklyn Rapid
Transit scored another decline of over u
point to s9&s, making a total loss of nearly
10 points from the highest of yesterday.
The rest of the list. with very few eX-
ceptions, became somewhat demoraliZed on
account of this raid and prices sagged
away in a manner that disheartened some
of the smaller bulls and led to some lQui-
dation of long stock by them.
The market rallied some after this press
ure by the bears had been lifted and looked
though there might be a better tone TO
the speculation after the first of next week,
by which time, II is expected, the banks
Will have been shown to be in a somewhat
better position, so far as loanable funds are
concerned. and it IS more than likely that
the bears will have oversod their position
on the market
There were not many guesses among
traders as to what the bank statement to-
morrow will show. A few, however VEN
tured the opinion that there would not be
much change in the surplus and that the
loans ought to show a fairly large de-
crease. 1t would not be surprising though
to find, under the present conditions, that
the banks have lost about four millions to
the subtreasury this week, besides ship
mentS to the Interior which may amount
to nearly as much again.
How much liabilities will decline is an
open question. but as the liquidation has
been conSiderable-much of 1t early in the
Week-under present system OF averages,
this may count for nearly the whole
Loans and deposits are not unlikely to
snow large decreases
Several attempts were made to STAY the
decline in Brooklyn Rapid Transit and
rally the market during the afternoon, but
these efforts met with only limited sue
cess and We're not lasting in effect