The times. [volume] (Richmond, Va.) 1890-1903, 1900-09-29
STOCK nARKE
WAS REACT IONARY
Declines for Many Prominent Stocks
Ranged from TO 2 Points.
THE CLOSE DULL AND HEAVY.
THE CLOSE DULL AND HEAVY.
Lackawanna Rose on Declaration OF
the Regular Dividend aud This
Served as a Drag on the Down
ward Course of Market.
0y Associated Prcss.)

NEW YORK, Sept. 2S.-Stocks We,s
reactionary again to-day on the SUI.
stantial satisfaction OF the urseii' ~,
tnand from the Short Interest ~, ~
brokers We're too busy on the tooi ,ri1,1t
night in the closing hour TO notlce VIC. Nc
WAS going on in the loan crow ~, ~. -,
fact was disclosed this morning lhts - -
supply OF stocks wslS again Neis 81
danI az a result OF the heavy reuuStto1ii
in The outstanding short intefest, t1 az.
the subsequent borrowing oeInaiiu ~
stocks. This IN itself was suillclene ~
indicate q reaction. as the eNlst !,.t 20 20
u large short interest is support ~
prices and its elimination inatet iSt t
Nseakens the technical position on ttiG
market. In addition, there was the usu,'i
lack Of explicit official 1nforllt!ioil -
gardin. Yesterdays runored strike SET
Element and some natural reaction III sen sen
tirem as q consequence But tiie u Iltt
lying conviction remains nnShaheli I'd -
settlement IS IA course of afraliStiiieiit-
There were strong shots among the coai-
crs, Reading first preferred auNaaciES
at the opening on It's Soou SEoWllLS "
August net earnings and Lackitsftai!iii
rising an extreme ~ on the declaration
of the regular quarterly dividend. lt!ls
served, us some thing OF drag on the
GownwAsd course OF the market Grow
ing weakness developed among the Spe-
cialtipS, and very heavy IiJuldation WIS
in evidence in Northern Pacific, the STOCK
declining 23s. The liquidation was at
trjbuted TO Berlin account, the Term
stock market continuing in q hiSh!y I'M
settled condition. SNtng TO the growing
stringency of money.
Declines for many Of the prominent
stocks ranged from / TO points rom iIie
lowest. and the demand 10 cover shorts
at the decline was slight. Inc market
closed dull and heavy.
The prospect OF an untaYorab!e oalhh
statement was a notably depressing rae
, Tor. The banks have lost on Sub-Ire$ts-
ury account 3d. 10000. which includes de-
posts by the banks for payments at other
points. The express movement OF money
to the interior is expected to bring the
aggregate loss by cash by the banks 10
above ST.10o,G0e, or about d million III e%-
cess of that OF last week. Liquidation III
the stock market has not been as large
as last week. but q small decrease in
loans is expected. The inroad upon sur
plus reserves viii. nevertheless, be of for
Inidable proportion. The Assistant Treas
urer was debtor at the clearinghouse to-
Day for upwards of $22sp.0Go as the re-
suit of Two checks for gold received from
Australia q week ago. But this gain by
the banks viii figure for only one day
in the averages.
Sterling exchange steadied in New
York today, but exchange on Berlin and
Paris fell sharply.
The reactionary tendency was not so
manifest in the railroad bond market a.
for stocks. Total sales par value, S13o
zoe. United States Tefundi1g rs (when
issued advanced 4 per cent. in the bid
price. and new Is declined x per cent.
Total sales of stocks to-day were 2I2,-
300 shares.