Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-09-14
FINANCE AND TRADE
Stocks Yielded to Bear Pressure on
New York Board.
COAL MINERS STRIKE A DETERRENT
Foreign Exchanges Also Reflected
the Weakness on This Side.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, September I4.-The efforts
to depress prices were moderately success
full in today's stock market, traders taking
advantage of the news to force declines
varying from u to 1 per cent. The Chinese.
situation disturbed the foreign markets.
fears of complications and delays being in
spired by recent negotiations between the
powers. The coal strike was taken more
seriously than heretofore, and the coal
stocks were heavy throughout the entire
day.
The selling was undoubtedly long stock i'm
many instances, the various pools showing
signs Of a desire to tighten speculative
burdens for time
The closing down Of the mines in the
anthracite coal region can scarcely fail of
injurious commercial consequences. The
roads dependent upon the transportation of
coal will suffer at time when the traffic
should be especially large. But In invest
ment circles the main evil of tho strike Is
thought to be in its possibilities for political
strife and discord at a most inopportune
time. Loyalty to the unions is apparently
to be put ahead of individual judgment. and
the thousands opposed to the strike can no
longer be depended upon to assist in Its
failure.
In addition to this prospect traders were
Influenced by the fact that the south and
west had drawn against local balances dur
ing the week for crop requirements. The
amount while probably less than S, 900 000
is significant, inasmuch 1t dispels the
theory that no such demand would be made
because of the financial ability of those
sections to move crops Independent of re-
serve funds or deposit in this city. Last
year the same predictions failed in the
same way. The reserve fund OF the local
banks is ample. however, and the increased
circulation of the national banks will help
materially in providing for such needs.
There is no longer any doubt concerning
the floating of the German loan of 80, 0OO.-
900 marks In this country. The loan is said
to be assured Of success. and arrangements
to provide for the payment of the proceeds
of the sale have been made. to make
no tnroads upon our gold supply. Should
this latter expectation be realized, the
transaction will be especially satisfactory
to the local market.
The selling of Sugar was one Of the lead
Ing features of the day, early manipulation
being in the interest of forcing an advance
upon which selling could be based. During
the weak period, around the lunch hour,
per cent was conceded in price. Peoples
Gas held well under covering during the
morning, but later yielded to the general
tendency for loss of more than per cent.
The Pacific stocks. the Changers and all
the active industrials showed less strength
than usual. Atchison issues sold off under
what appeared to be pool liquidation.
The market was more sensitive and more
responsive to routine developments than
any of its recent predecessors. Should this
be a permanent quality the election scare
can scarcely fail Of naturalization later in
the season.