The times. [volume] (Washington [D.C.]) 1897-1901, 1900-09-26
PUBLIC NOT INTERESTED
Wall Street Trading Marked by a
Professional Tone.
The transactions Extremely, Ir-
regular. and the Movements With
out Apparent Cnuse - some Ac-
tivity i'm Railways Considerable
Punctuation in the specialties.

NEW YORK, Sept. 25.-Nothing could
demonstrate more clearly the wholly pro-
fessional, speculative and technical char
acter of the stock market at the present
time than its unusual and confusing ir-
regularity. Everyone familiar with cur
rent Wall Street conditions recognizes as
the dominant influences in the situation
the Pennsylvania coal laborers strike, the
political outlook, and the uncertainties
of the immediate money market. In the
nature of things these matters develop
changes, but slowly, yet the stock market
presents the spectacle of a semi-panic one
day and of a sharp recovery the ensuing
day, notwithstanding the absence of eth
er any Improvement or any turn for the
worse in the already cited controlling
conditions. This morning the tendency of
prices was in the main toward a higher
level.
The trading was no less professional
than it has been before and indeed it was
more wholly so, inasmuch there was
temporary cessation in the liquidation
that has been in progress for some time.
1t seemed to be altogether because liqui-
dation subsidized today that the covering of
shorts. under which most of the days inn
proyement occurred was induced. In so
far as London could be cited as an infiu-
ence in the market, some help was derived
from that quarter also. At all events the
higher range CT prices furnished for Amer
lean stocks. and the trifling buying orders
executed here for foreign account received
the ordinary amount of notice with the
opening of business.
Recoveries in the railway list were COM
fos- nd Tfar-a
was nothing of particular interest that de-
veloped with the course of the day with
any bearing upon that general quarter of
the market or special stocks there. AS
usual, the dealings were largest in the
granger stocks. the Pacific shares. and the
Atchison issues. The most active features
of the market were Peoples Gas, Brooklyn
Rapid Transit, Sugar Refining, Tennessee
Coal and Iron, and American Tobacco. In
these instances the fluctuations were again
wide and erratic.
mite came to light which would account for
The particular activity in these stocks or
the resultant fluctuations. Reports of one
kind or another are abundant in the in
stances of Peoples Gas, and those now
current comprise the aggressive activity Of
the Chicago city council against the COM
pany, the war of rates in that city, while
inc ioI th-omlLS uiNlaehu on the STOCK Is
also subject of active discussion.
The more or less sympathetic movements
in Brooklyn Rapid Transit are, however.
almost wholly wanting in even such indefi-
mite matters of interest as are connected
with the dealings in Peoples Gas, and the
same IS true of the speculation in Sugar
and the Tobacco shares. Today's money
market tendencies appeared TO make for
still more active conditions. but as a mat
ter OF fact there was no actual change in
the rates in any quarter of the market.
In view Of the tendency of the money mar
ket. however. material relaxation in
sterling exchange might be cited as among
the significant developments of the day.