Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-08-27
Stocks Were Weaker and Nobody
Wanted to Buy.
AMERICAN SUGAR SOLD OFF
Another Attack on Brooklyn Rapid
Transit Today.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

| Special Dispatch to The Evening Star.
NEW YORK. August 27-Seling In larger
| volume than heretofore and liquidation on a
moderate scale resulted in weak stock
| market this morning. Railroad shares yield
ed to the pressure, and the manipulation,
so long effective in maintaining higher
prices. not in evidence.
The complex features Of the present situa-
ton are being more seriously considered
than they were earlier in the summer ana
the result is not favorable to prices. Pol.
ties and the scare incident to fears that
the worst may happen are now a prominent
factor in the day-to-day price movement.
For considerable period the prospect Of
a scare was denied in certain influential
quarters, but experienced traders preferred
to be governed by precedent, and he new
movement In the market Indicates the posi-
ton of the latter.
There is no demand for stocks the only
strength heretofore being an absence of a
desire to sell. AS the critical point In The
campaign Is reached selling will increase
while the Willingness to buy will decrease
The effect will be to force prices toward
a lower level until the real OUTCOME. of the
campaign is sufficiently clear to admit of a
dlscounting movement.
There are some commission houses who
declines
more speculative than real and that pur-
chases on declines will be the least ven
tureSome risk
There is an increasing short interest
which may shortly come in for a forced
covering movement, but the pools which
could have done this few weeks ago show
no inclination to take the aggressive. The
market has had rise followed by pro-
tracted period of manipulative strength and
unusual dullness and now reactionary in
huences are at work.
American Sugar was sold in liberal vol
ume by speculative clique. the price
breaking 22 per cent without attracting
support. Trade conditions are given as an
excuse for the selling, and the fact that
the property will figure in the political
trust debates helped the decline. The sup
port which was accorded the stock last
week was Withdrawn, and the selling par
ty had little difficulty in forcing the price
down.
The coal stocks, which figured promi-
nently in the recent strength, were ne
elected today and yielded quite as much
as any group in the market
The coal shares as a class are in an ex-
ceptionally strong position, both by reason
or the broadening market for the product
and the prospects for consolidation. The
tlIne Is not ripe for important stock move
ments. however. and the merits Of the coal
group must wait for more propitious oc-
casion.
Brooklyn Rapid Transit was under pres
sure during the opening hour, the selling
being the most aggressive recently seen In
the market Tie suspicion that the stock
was vulnerable had quite as much to do
with inspiring the attack as had any known
facts concerning the property
Inc granger shares We're weak at times
@nd the recently prominent stocks in the
middle group We're the subjects of mixed
sales. Union Pacific and Atchison issues
were weak, the buying being of the most
perfunctofy character and void Of signifi-
canoe: The weakness i'm these shares was
surprising, in view of the reported revival
or interest at Berlin in American securf-
tles. Easy money at that center has had
a tendency to revive speculative interest
Lohooh olo little either way, the approach
ing settlements showing too small an ac-
count to give any significance to the prep
arauons
The last hour was given over to profess
slonai transactions, but net changes gem
orally reflected declines from the opening
level - 10 = :, = p.