The daily morning journal and courier., 1901-10-01
nanria1
 THE STOCK MARKET
Small Volume of Trading Early De-
 a clinc Partly Wiped Out.

Small Volume of Trading Early De-
 ~ clinc Partly Wiped Out.
 New York, Sept 30.-The small vol unle of the trading to-day and the ten dency of prices to retrace the earlier downward movement revealed the pre- dominence of professional operations in the market The dealings were less than half million shares and the late hardening movement in the market re- trieved approximately one half of the early decline There was no very ur- gent selling manifest at any period of the day, although the bears succeeded in uncovering stop loss orders in Sugar and to a smaller extent in Brooklyn Transit and Missouri Pacific. The first named stock fell an extreme 3% and the latter two points. Declines reach ed two points or over in number Of other leading stocks, notably amongst the Pacifics, Southwesterns and Van derbilts. Declines of to 4& among the junior members of the last named group gave emphasis to the feeling of scepticism that has grown up regard
 
 plan for merging all the members of the group Amalgamated Copper con- tinued under some pressure, but the declines were resisted The firm tone of the spot copper market in London helped the stock and it closed with net loss of 1b. Assertions were made in demonstrative way that the United States Steel stocks were to be advanced this week on the ground of the declara- tion to be made tomorrow of the reg ular quarterly dividends on both the common and the preferred stocks and on the presentation of detailed state- ment at to-morrow's meeting of the finances of the company But these intimations did not cause d rush to buy the stocks, spectators being dis trustful of industrial stocks since the recent experience in Amalgamated Cop per Statements that working agree ments had been made for the continu- ance of Western Union wires along some railroads in which Pennsylvania owns an interest were offered as dis proving apprehension of hostilities be- tween the Pennsylvania and the Gould interests. The admission of an addi- tional Standard oil representative in the St. Paul directory led to prophecies of a similar representation on the Union Pacific directory, and the alleged completion of negotia tions between the Atchison and the Hartman interests for the use of the Pacific Mail steam ships by the Atchison were thought to further the safety of the community of interest," Except for a rise in Pa cific Mail no effect was produced by these reports The October currency requirement. kept uneasiness alive re- earding the money market future, seemingly with little cause, as sterling exchange weakened to-day and New York exchange hardened at Chicago The fact that railroad earnings for the third week in September increased over the corresponding week of last year only 4.46 per cent, compared with an increase for the second week of II 72 per cent, was cited as evidence that the corn crop shortage was beginning to make an impression and last weeks small grain receipts at Chicago formed an additional argument for the bears. The market closed firm at the rally caused by covering of shorts.
 Railroad bonds were dull and irreg- ular. Total sales par value $1, ,4S0,000
 United States 3s advanced 1s and the old As and the refunding 2s A per cent. on the last call. The new As declined + per cent.
 NEW FORK STOCK MARKET