The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-19

NEW YORK, Oct. 1S.-Except upon the
theory that the visit to and trip through
the State of the Democratic Presidential
candidate has revived apprehensions a;
to the result Of the campaign, it would
be difficult to account for the reacti mar!
tendency of the stock market. Today:
dealings showed further contraction ir
activity and the general drift of price:
was a sagging one.
There were a number Of conspicuous
exceptions to the common ten 1ency Of tn;
market, but these were mostly amcng tn
specialties. and had little significance cs
regarded the dealings al large. The fact
that London houses continued to sell
quite heavily here was factor CT some
weight, particularly in the fer n on. and
speculative sentiment was somewhat af-
fected by the decline shown in the Amer
lean quarter of the London market, where
the tendency of the American depzrtI elt
was in decided contrast to the general
market.
There was again no particular explana-
ton of London's attitude toward Ameri-
can stocks, and, as noted, the general
market there was steady. The London
money market continued extremely easy
and the Bank Of England's discount rate
was left unchanged at per cent. The
local money market was dull and easier
particularly for accommodations On time
The days news otherwise comprised lit
tie more than additional reports Of rail-
way traffic fer the second week of the
month, the returns for the most part
being highly satisfactory.
The virtual settlement of the anthracite
coal strike was Circumstance of the sit
uation which has no appreciable place in
discussion. There was again noted in the
dealings exceedingly heavy selling in va
rious quarters, which was apparently for
the account Of a number of large and ag-
gressive professional spectators now ac-
tive in the market. Their selling alone
was in sufficient volume to bring about
the price results. There did not appear
to be any general unprofessional liquida-
don, and. on the other hand, no efforts
were apparent to counteract the efforts
of the professional traders referred to.
In the railway list the recessions were
most extensive in Pennsylvania, Baltimore
and Ohio, Louisville and Nashville, and
Southern Railway preferred. The local
traction shares were again comparatively
steady. Among the specialties Peoples
Gas was decidedly reactionary. while Pa
cihc Mail was firm. with some preliminary
discussion regarding the possibilities Of
the passage of a subsidy bill by the
next Congress. The so-called Vanderbilt
stocks were firm features of the mar
ket and sharp advances were made by the
Lake Erie and Western shares, the New
York. Chicago, and st. Louis issues, and
Canada Southern.
With the course Of the day the agrees
eive strength Of the Vanderbilt stocks,
particularly New York Central, extended
to the remainder Of the market, in which
. general and sharp recovery took place,
with the dealings showing increased ami
nation. The Pacific stocks developed a
special strength, and there were number
Of sharp advances also in the industrial
quarters. Missouri Pacific. Missouri, Kan
sas and Texas preferred, and the other
Southwestern issues were strong features
Of the railway list