The Washington times., 1901-09-18
REACTIONS In THE MARKET
Stock Movements Uncertain and
Less BuOyancy Shown.
An Evident Reduction in the Exten-
sive Short Interest-A Shnrp Ad-
vance in Sugar Refining-Activity
Well Diversified in Many Quarters.

NEW YORK, Sept 16.-Today's stock
market was less active than yesterday S
and also failed to show striking results
such followed yesterdays trading, al
though, of course. in the ordinary nature
of things the latter were net to be eX-
pocted. Practically. nothing that was new
was presented for consideration upon the
opening Of business and the trading was
wanting scTen in the decided inspiration
it received yesterday from the extensive
advances scored in American stocks in
the London market
On the contrary, the early quotations
for American stocks in London showed
small and irregular changes and foreign
houses reversed their operations here,
selling on balance about 25 $50 shares of
stocks In consequence the market open
I'd with an uncertain tendency and it
later developed a rather reactionary tone.
Throughout the day price movements
were of a somewhat uncertain character,
but the undertone remained decidedly
strong and this undertone occasionally
developed into something of the buoyancy
which characterized yesterdays dealings,
At the same time the stEs myth displayed
was by no means as uniform it was
yesterday Apparently the short interest
in the market had been materially cur
tailed in a number of directions in yes
terday's rapid advance, hence the gen.
eral demand on this account was miss
ing. On the other hand commission
houses reported a much better enquiry
for stocks on the part OF their customers
than has existed for a long time
It is apparently the case that President
Roosevelt's brief but straightforward
statement made at the time he took the
II for
effect upon sentime ut than had been
wholly appreciated. 1t was nothing more
than natural that the country at large
should view with alarm the relinquish-
ment of the control of the Government by
the masterful hands which had guided it
since March T. 1897. At al events the in
fluence of his statement was again plain
ly apparent in today,s dealings in the
market. With the settlement of the steel
strike there was nothing else TO engage
atte ention but the days returns of railway
traffic and the developments in the money
and foreign exchange markets. The first
continued favorable. The money market
was distinctly easier and sterling eX-
change was barely steady after yester-
days decline
While the market was wanting in the
uniformity of movement which character
ized it yesterday and was by no means !
siiied than IL was then. Local traction
issues today were particularly strong and
active. although participating fully in the
more ire gular moveme nts in prices in
comparison with yesterday.
The so-called specialties showed decided |
strength. with the exception of Amalga- !
mated Copper. in which instance the pres |
sure which has been apparent for num- |
Der of days was continued. without any |
definite explanation developing. Tennes- |
see Coal and Iron. Colorado Fuel and |
Iron, Consolidated Gas and the other |
STOCKS of the same general classification |
were. on the other hand. decidedly firm.
Sugar Refining was the feature in the |
industrials, with a sharp advance which |
was not. however. fully retained. The |
United States Steel issues, while fairly |
active, showed the effects of the selling /
which was to be looked for on the an
nouncen:t MT of the settlement of the steel |
strike. The conspicuous features of the |
railway list were St. Paul, Union Paci- 1
nc, Southern Pacific. Rock Island South |
ern Railway. and Norfolk and Western. I
Nothing whatever in the way Of news |
or intert sting gossip came to light in con-
nection with any of the movements In
question and their course seemed to re- 1
fleet the technical conditions entirely 1t |
was matter of some comment that not !
withstanding the evident reduction in the
short interest in the market through yes
terday sharp and general advance there |
sui existed an active demand for stocks |
In the loan market.