The times. [volume] (Washington [D.C.]) 1897-1901, 1900-09-18
SLIGHT RALLY In STOCKS
The Recent Bear Movement Appar-
-".a 10 emily at an End.
The Rapid ncc-'-'~ in Prices Ceases
AFTER the scalings-Feyer-
ishness N------~-- and n sharp Al
vance Is Observation-Disclosures in the
IndustrinIs Quickly Made Good.

NEW YORK. Sept. Hit is safe to say
that the majority of speculative calcula-
tions were rudely upset upon the opening
of business in the stock market this morn
ing. In view of Saturdays rapid and con-
tinuous decline in prices, and in view of
the fact that there had been no change
whatever in the conditions which engaged
attention and which were held accounta-
BILE for the pronounced break then, it might
have been supposed that no little demorali-
cation would have been shown in the mar
ket- this morning. That such was not the
case only proves how thoroughly profess
sional the dealings are at the present time
Had outside interest in the market been at
all extended there is but little doubt that
some substantial losses would have been
showr in this mornings initial dealings.
.s,lAs a matter of fact however apart from
one or two stocks of a highly speculative
grade, the initial losses were all within
fractional limits, and the early declines
were followed by sharp and general rally
Which carried the average level well above
Saturdays final figures. Technical con-
siderations appeared wholly to govern the
days changes. Upon the opening of bust
ness trading was in small volume on both
'sfdeseof the account and the markets tone
was feverish. The uneasiness created by
the course of prices Saturday was accen-
tuated by the sharp declines shown today
in the American quarter of the London
'14arket. where losses which averaged over
IL point were reported. Foreign houses
We're unusually large sellers of stocks here
alsc. fully $4,000 shares being disposed of
on this account during the forenoon.
Ii is scarcely necessary to say that the
stock of the anthracite coal miners, the
prfltical situation and the conjectures as
10 the future OF the money market were
stilI the leading subjects of discussion,
land it need hardly be added that elements
OF novelty were wanting as regarded each
OF these matters. To some extent to be
sure, the recovery in the market was
owing to advices from the anthracite Sec
tions furnishing rather more hopeful
views of the situation there, although
hlanifestly the strike has not yet reached
= stage where any definite conclusions as
10 its course can be formed. Similar COM
ments might be made on the Presidential
campaign, and the money market furnish
ed no material reflection of the conditions
disclosed in Saturdays bank statement
The course of business also was entire
IL free from any new developments. What
was clearly disclosed. however, and in a
number of ways, was that the aggressive
selling of stocks on Saturday, under which
the more extensive declines took place.
was almost wholly for short account, and
II was plain that very little genuine liqui-
dation had been provoked.
The most pronounced losses at the OPEN
ing of business were in Tennessee Coal
and Iron and American Tobacco, but both
stocks subsequently rallied sharply along
with the remainder of the list. Else
where, as noted, the initial losses scarcely
averaged IL point, and they more than
made good in the later dealings. There
were particularly sharp recoveries in Peo-
PIES Gas. Brooklyn Rapid Transit, Me-
tropolitan Street Railway, and the gran
ger stocks. AS noted the various move
ments in today's market appeared to re-
suit wholly from general technical condi-
tions and there were scarcely any devel-
opments bearing on any particular stock