The evening times. [volume] (Washington, D.C.) 1895-1902, 1900-10-29

The liquidation OF stocks began early
last week ana continued WIN lIJIie inter-
ruption Until Saturdays close WAS in evil
dence AGAIN TINS morning. AS the declines
last week were not large, however, 50
tAey we're not particularly large or i'm
portanI today. The bears increased the
snort interest somewhat and some OF the
late converts to the bull side hquIdated
with losses or small pronts, but the large
holders OF stocks did not sell cut as they
did not last week. The situation is far
from discouraging to the bulls who are
willing TO concede that the market never
goes up all the time without reactions. 1t
now seems probable that the advance will
begin again shortly. perhaps tomorrow.
Another reaction may occur during cleo
ton week, but this too is not likely to be
very large che. Later the bull move
ment should get under way in earnest, no
matter which side wins in the coming
election. Business is good nearly every
where, and the trusts OF all kinds are pill
ing up profits for dividends.
Money is easy and the bank statements
hereafter for some time TO come will show
increases in cash and in surplus reserve.
Large amounts of gold continue to arrive
from Australia and some of the best post
ed financial men state the opinion that
in the near future The shipments to the
West and South have nearly concluded
Call loan rates should not exceed per
cent The coal miners were going back to
work this morning in most cases and the
Street seems inclined to drop the strike
from its catalogue of possible factors
London sold some few stocks this morn
ing in New ork.
The most pronounced weakness this
morning was in the Steel securities, in
Sugar, and in Pacific Mail. The selling
of Pacific Mail was heavy, but it was not
believed that 1t was of a particularly i'm
portant character. The short interest in
the stock has been increased largely since
the boom a week ago. The price went of
TO Il and a fraction during the first hour
and predictions were made that it would
sell as low as 40 shortly Some people
advised buying in again at that price. 4
story was foated by the bears to the eff
feet that the Panama Railway Company
has decided not to give its exclusive con-
tract for Pacific shipments to the Pacific
Mail Company hereafter. This story made
fair offset fol the yarns circulated last
week by the bulls to help their boom
Sugar sold down to I21 and a fraction
early in the day and there were bear sto-
ries and predictions afoat, which, how
manipulators wholly.
Tennessee Coal a1d Iron was the stock
that had the sharpest decline during the
first hour, selling down from an opening
at 81 IL TO "a 1-2. Later 1t recovered
somewhat but was inclined to weakness
during the entire morning. The other stee
and iron securities also declined somewhat
No news was received by the Street re-
gardtng them, but as suggested last week
in This column this group is not likely tC
be particularly bullish as long as the cleo
ton is undecided.
Talk regarding Louisville and Nashville
is again bullish in its character. Predic-
tions of good advance in price are made
by people who are Interested in the com.
pany and its stock. One story is that thu
company will show a large gain in ne
earnings for September which will more
than eQ5lalize the decrease in net durins
the first two months of the fiscal year
The grangers were off with the remain
der Of the market, though not in way L
cause any alarm. Atchison, preferred, sol,
fraction under "A. st. Paul sold as low a
rs The same may be said of the Pacif
securities.