The age-herald., 1900-09-21
UNCERTAINTY IN THE STOCK MARKET Disturbed State OfFeeIing Shown
 to Exist. CLOSE WAS MYSTERIOUS   Quiet and Steady in Contrast to Unset tied Conditions Manifest During
 Day-Downward Tendency
 Continues Unabated
CLOSE WAS MYSTERIOUS

New York; September 2O.-The closing of the stock market this afternoon was quiet and steady in remarkable contrast to the disturbed state of feeling which prevailed all day. But there had been such lulls at various times before in the storm of liqui- dation which swept over the market, and whether the final quiet marked clearing weather or simply a gathering of forces for another outbreak of the storm, was the question of greatest interest in Wall street and upon which opinions greatly varied.
 The volume of selling and the scope of the movement in the number of stocks in volved indicated plainly enough some gen. eral cause or condition at work to induce selling. Special condition in individual stocks aggregated the weakness, but the peculiar causes were quite inadequate to explain the general weakness. Neither was it very clear that any new factors have been introduced into the general situation which have not been in some evidence for sometime past.
 So far as these general considerations are concerned the violent liquidation of the day must be due to growth of continua-
 
 factors rather than to any new status These general conditions are the harden ing money market and the coal strike and rather in the background, the Chinese sit uation.
 Those who found nothing in the actual news sufficient to account for the extreme weakness of the market offered a suppo- sition that some developments not yet gen. erally known in the Chinese tangle had in- duced large selling by persons with ad- vance information. Certainly it is hard to account for such wholesale selling as that of today in a market which has been sup posed to contain comparatively light spec ulative commitments on the ground of fears of future events or sentimental con- alterations. No selling was forced by ac- tual contraction of credits, although the rates for money showed a continuance of the recent hardening tendency. The forces toward depletion of New York money re- serves continue operative, the days outgo of currency to the interior being large
 The special weakness of the steel stocks seemed to show some peculiar apprehen- sion that the conferences over wages and the efforts to adjust prices would not bring the industry to a profitable basis. Ten pessee coal was apparently without any support and was nearly points off at the lowest. The stock rallied 2k on short cov- ering. Pressed Car, American Car prefer red, Steel and Wire and Federal Steel pre- ferred were down from to 2H.
 Bonds yilded in sympathy with stocks, but the selling was not on anything as large scale. Total sales, par value, S1,- 125,OOO. United States new As and 5s de- clined A per cent in the bid price,
 New York, September 2O.-Money on call steady at 11aq2 per cent; last loan at 11s per cent.
 Prime mercantile paper, 4h@5h per cent. Sterling exchange easier, with actual bus mess in bankers bills at $4. .867s04 S7 for de- mand and at $4.SS1s@4S SEA for 50 days
 Posted rates, s4.S494S41s and $4.SS.
 Commercial bills. $4.S21s@4.S3.
 Silver certificates, 62&4@63Ac.
 Bar silver, 62Rc.
 Mexican dollars, 49Ac.
 Government bonds weak.
 State bonds inactive.
 Railroad bonds weak.