Evening star., 1900-09-19
FINANCE AND TRADE
Liquidation by Pools Forced Prices
Down Generally.
A DROP IN TEE RAILROAD list
Miners Strike Does Not Seem tc
Exert Much Effect.
GENERAL MARKET REPORTS
Special Dispatch 10 The Evening Star.

Special Dispatch 10 The Evening Star
NEW YORK. September 19-Liauidation
by the pools in the so-called specialties was
the chief feature of today's stock market.
Centering the attack upon the steel stocks.
traders extended the depression to all the
active railroad issues. The various cliques
were undoubtedly sellers through outside
brokers. Atchison, Union Pacific and all
the Changers gave way under the influence
OF such sales, and no material increase in
new business was reported. st. Paul was
sold literally for both accounts, and Bur-
lfngton was lacking in investment support.
New York Central gained some strength
from its dividend, but Pennsylvania showed
a tendency to yield with the balance of the
market.
In the Traction stocks there was liquda-
ton of speculative holdings, and the sup
port came only from the room
In the steel stocks American Steel and
Wire was easily depressed, but later the
real weakness in the group seemed to CEN
ter in Tennessee Coal and Iron.
The selling of the latter was conducted
by brokers supposed to be acting for large
interests. The Industrial department as a
whole was sensitive to attacks as the re-
suit of the double influence of labor trou-
D'0' anu poiilltdl dSlldtiOn the trust
question.
The coal shares seemed to feel the infiu-
enceS of general rather than special condi-
uons ana yielded to the prevailing weak
ness rather than to personal interest in the
strike.
Less Is heard of the strike In spite of its
gravity, but 1t has brought politics into
greater prominence and from now on a ser
ious turn in the strike development will
find general reflection in all parts of the
market.
Banking interests are not in favor of a
large speculation in the market at this
time. The money market will cause no
concern so long as speculation is kept with
In marrow limits and no dangerous result
need be feared should surprise or accident
temporarily deraDge the calm Judgment
Of the interests which make markets
1t Is upon this condition that profession
al interests build hopes of success in the
short account. While support Is lacking
and conditions are complicated an attempt,
perhaps many attempts, will be made 10
force the public into liquidation Hereto
fore such efforts have failed Of material re-
suits and the covering of such sales has in
varfably restored prices. The selling in
progress during the present week however
is more determined than that of midsummer
and may succeed in consequence.
The preliminary evidences Of political
scare are in evidence, but should it come
it Is not likely to be of long duration
Stocks are better held than ever before in
such a crisis, and there Is every reason to
expect less radical results. So far as the
elections go, Wall street will have its mar
ket based thereon before the votes are
counted For this reason activity of some
sort is assured within month but the
realization OF this fact only confuses the
public mind and emf hasizes the fear that
any action may be mistaken action.