The times. [volume] (Richmond, Va.) 1890-1903, 1900-09-18
EXPECTED BREAK
DID NOT COME
The Stock Market Was Dull and.
Without Life.
MONEY MARKET LESS ACUTE.
Fear Expressed in England That
Amerlca May Pay the German
Loan by Orders FOR Gold on Lon
dos, by Sterling Exchange.
fBy Associated Press,

NEW YORK. Sept 1.-THE expected
break In prices Of stocks failed to occur
to-day. There were very considerable
selling orders in the market at the open
Ing as never fails to happen after suc l
break in prices as that of SATURDAY;
but the friends of the various stocks nau
placed supporting orders in the marks s,I
and their buying was sufficient to ABSORB
who had sold short on Saturday were
not slow to detect the evidences Oh sup
port, and they FASTENED to cover ana tooiA
their profits. Buying from this source
was a material factor in the recovery,
Seeing the tendency of things. the puii
leaders who had to retreat last Week a. a.
tempted to retrieve their lost GROUND pS
bidding up prices. The pressure TO seii
/at the adcanve stop this movement, how
ever. and the market fell back into Elts
recent condition Of lethragy and down,
ward drifting. Prices in pracucaily ca an
important stocks were verysnear TO SAT
urday'S level at the close, which was
dull and easy.
Among the professional treadsr who
Still control large proportion OF the
operations, an important influence was
exerted by the bullish opinions expressed
by Janes r. keene in an interview IN
London. Mr. Keene's views were the
gossip on the Stock Excxhxange had at
sributed selling order of 1000 shares of
various Gus, stocks to his account The
had nothing to do but to cover their
short contracts this morning The rela-
tive frmness Of the coal carrying railroad
stocks even before the general upturn,
and the positive strength developed later,
served to detract somewhat from the
effect Of the shutting down Of the coal
mines.
; Uneasiness was less acute over the
money market. Greater confidence was
felt in the ability of the money market
to meet the requirements OF the German
loan subscription and more attention is
paid to the larger view Of the operat ton
as an Indication of the growing power
and Importance of the country's financial
position. The import movement on money
continues heavy, thus constantly making
exchange to meet the obligations in
CURED to meet the subscriptions to the
loan Large fioa ting loans are coming
due in the Berlin market to American
lenders and viii be available by a book
keeping operation to pay instalments on
the loan.
The fear is expressed in London that
the American subscribers may pay the
German Government by orders for gold
on London, the supply of sterling ex-
it is believed, to allow such an operation
This possibility was a depressing factor
in the London Stock Market, as Berlin
would not be expected to be so lenient
a creditor as America had been, owing to
the high money rate in Berlin. From
any standpoint America being the cred
itor in the operation would exercise large
control of the situation. The possible
line by which relief may be sought is
indicated by last weeks shipments of
British exchequer bonds by foreign sub
scribers.
The bond market continued irregular.
The total sales. par value, $3.50, 600.
United States refunding 2's (when issue),
the old As and SIS advanced Il per cent.
in the bid price.
Total sales of stocks to-day were
$4,000 shares.
MONEY AND ExcHANGE.-Mone on
call steady at 11a per cent; prime mer-
exchange firm. with actual business in
bankers bill at 81 S6a4 al s6s for demand
and at s.. sSA for sixty days posted rates,
silver certificates 62a4 G63a4 bar silver,
e.; Mexican dollars, 49,. Government
bonds strong; State bonds inactive; rail-
road bonds irregular