New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-09-20
BONDS
The DAYS OPERATIONS IN STOCKS

The stock market heavy on small vol
une Of business. Absence of demand encour-
aged a renewal Of bear pressure which was
effective in bringing out long stock in the
greater number Of active issues. This selling
however did not represent important liquida-
ton. while on the decline good buying was re-
ported in all the leading railroad and indus
trial securities No effort was made TO check
The downward tendency. but substantial inter
ests appeared willing 10 take all offerings Ac-
oording 70 the traders point of view the UNI
certainties in the general situation warranted
lower prices It was contended that the coal
strike was becoming more serious as a market
factor. that the political campaign was not NOV
ing altogether in favor of the Republican party
and that the money market situation was
orninous Then a disagreeabe impression was
created by the City Hall attack upon Brooklyn
Rapid Transit Professional selling based upon
these arguments failed 10 disturb investment
holdings hut II doubtless Influenced liquidation
by tired speculative holders An active market
is predicted by the trading element despite the
fact that stocks are in the hands of people who
show no inclination to sell while new buyers
appear unwilling 70 come into the market Al
ruling quotations.
II the banks lose 100000 week for sew
eral weeks to come money rates will. Of course,
rule higher. But there is no large amount Of
stock carried on borrowed money and there
Is no demand for accommodation for speculative
purposes, an advance in money rates should
not exert any serious effect upon security quo
tations Higher rates may induce some selling
Of stocks by people who may find it profitable to
use their funds in the money market. but
active money market at this time should not
be followed by a panicky stock market. If cap
ital Is withdrawn from the channels Of trade and
from the banks because Of a fear of Bryan's
election. q stock market slump of mean
proportion may he looked for. Mr.. Bryan's
supporters would doubtless hail stock market
panic with delight ard enjoy II they now
enjoy the coal miners strike; but unfortunately
To- the Popocratic party investors DO not be-
reve that Bryan viii be elected. and in con-
sequence they are maintaining firm hand on
their security possessions.
Tennessee Coal and Iron was one Of the nota-
biz weak features ir yesterdays market. II
was said that selling was for the account Of
holders who had suffered in Saturdays decline.
hut the rraripulat:ve reputation of the stock
suggested 2 we'll arranged attack from powerful
speculative interests. The industrials in general
were sold by the professional clement. and a
little long stock from tired holders came out in
the granger and Pacific Railroad shares. save
Southern Pacific in which fair buying
ported Transactions in Sugar Refining, Amer
ican Tobacco. Atchison preferred. Brooklyn
Rapid Transit. Burlington. ST. Paul Tennessee
Coal and Union Pacific were moderately heavy,
but elsewhere dealings We're light On the de-
cline number Of stop orders were reached. and
in the afternoon selling for both accounts was
general. Last prices We're al about the lowest
IF the dav.