Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-09-12
Dizziness Was Again the Feature on
Stock Exchange.
NERVOUSNESS IN COAL SHARES
London Was a Buyer of Stocks in
New York.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, September 12.-Prices were
generally strong in all parts Of the market
today In spite Of the fact that communion
ton with the west was hampered by the
destruction of wires in last nights storm.
London reported a steady undertone in
that market and later bought moderately
in the local market. The main features of
the situation show no change, however.
and the volume of business is small and
professional
The short interest Is dissatisfied with its
position and continues to cover outstanding
contracts. The room is slowly swing ng
around to the belief In higher prices. Trad
ers are preparing for an advance. and will
be ready to follow any experienced leader
ship. Operators heretofore advertised as
being extremely pessimistic in their views
now announce an intention of leading the
market along the lines of the least resist
ance. These lines do not extend downward.
The midsummer dulness, coupled with a
perplexing foreign situation and the uncer-
families OF domestic politics. failed to de-
tract materially from the prices of stable
securities. The elements of reactionary
market were never marshaled In greater
force so far as surface indicatio went,
and precedent was respected.
Commission houses had no business and
with the making of prices.
Declines did not produce liquidation, and
dizziness was forced upon the market be-
cause legitimate business was lacking. The
selling was for short account and not re-
duction of strong box holdings. The buy
ing was for the same account or for the
account of pools seeking to support their
speciaitfeS. Declines were prevented and
advances discouraged normal condition
was allowed TO prevail. and the uncertain
ties of the situation were given time to
unfold into positive influences
The foreign situation has improved and
hitherto non-commital houses now ad-
wishing buying on all reactions.
The money rate keeps down and nothing
more than temporary return to the legal
"a te Is predicted. The one remaining diff
Guilty Is the political situation. and the
street Is going along in its usual deliber-
ate way seeking to determine in advance
what the outcome will be. The pouIical
phase of the coal strike caused more alarm
in financial circles than did any CONNER
cial injury worked therein. Commercial
considerations. If unhampered by poll
tics. are known and wholly satisfactory
quantity. Politics will be the dominant in
fluence for a time but probably only prior
to the elections.
Decreased earnings for Baltimore and
Ohio for the current period as we'll as for
the year begun last July, were passed over
as an influence on the price of the stock.
The coal stocks generally, however, showed
signs of nervousness the result OF the
strike situation.
Northern Pacific was bid up sharply on
the short interest, and some demand for
both accounts appeared In Union Pacific.
Southern Pacific was firm In spite of the
company's losses in Texas. Atchison is
sues were strong, but the grangers as a
whole were Irregular The steel stocks were
supported rather than being sought after
while the traction issues again reflected the
presence OF contending factions.