The Washington times., 1901-10-05
STOCKS ACTIVE And WEAK
Speculative Sentiment of the Mar
ket Unusually DOwncast.
Severe Declines I'm Speciaities-
Movements Irregular in Halfway
List--Tracticn Issues md Console
dated Gas Afccted-Money Market.

NEW YORK. Oct. 4.-During the first
hour of business this morning the stock
market was both exceptionally active and
weak. Subsequently the trading fell
away materially in volume, but the mar
ket showed little or no rallying po oEer-
AT the same time, outside of a compare
lively few stocks. the losses We're not eX-
tensive, and. in fact comparative de
gree of strength was shown in number
Of important securities.
The initial weakness was to some eX-
tent, perhaps, 4 rejection of further
very severe decline in Amalgamated Cop
per. as speculative Wall Street has ap-
parently reached the conclusion that the
fortunes of the financial situation are
wrapped up in the reported developmen nts
in the copper trade Most OF the day :
more severe declines were indeed noted
among the stocks classed rs specialties.
Thus, aside from Amalgamated Copper,
noteworthy weakness was shown by Col
orado Fuel and Iron. Consolidated Gas,
and General Electric. Nothing apart
from technical considerations could, how
ever, be advanced in connection with the
declines in these stocks Scattering hqui-
dation was evident throughout the mar
ket. and upon occasions il appeared to be
fairy urgent
L ne severe uetllltS WHICH were iibAt'i
in the local traction issues taken in con-
nection with the weakness in Consolidated
Gas, We're TO some extent accounted Tor
by reports that a judicial decision uphold
ing the Ford misunderstanding act wouln
soon he rendered Sugar Refining contin-
ued exceedingly weak, and. in TACT. re
newed pressure was evident throughout
the industrial quarter. The mov"m5 nts m
the railway list were more Irregular ana
by no means so extensive as those noted
in the remainder Of the market. Chesa-
peake and Ohio, Norfolk q nd Western and
firm. There were further sharp declines in
the so-called Junior Vanderbilt issues, but
New York Central was comparatively
steady The trading in the railway list
appeared. however, to be little more than
a reflt ction of the dealings in the re-
maind,r of the market and more particu-
larly of the sharp declines showing among
the specialties.
The days gossip continued along the
general lines which have prevailed d
throughout the week. There was little
actual news of a general or particu an
character aside from the days returns of
railway traffic. No material alt, ration
appeared in the money market or foreign
exchange circles. London was factor OF
little weight in the dealings, for While
American stocks were shown at material
declines there the dealings on balance Tor
foreign account resulted in the purchase
of a few thousand shares of the stocks.
1t ought to be added. in any review OF
today's market, that ii has been a long
time since speculative sentiment appeared
to be so thoroughly dOwncast- Willie, as
noted, there were no novel developments
of Importance. such was the spirit of pes
simism prevailing that practically all Of
the untoward developments of the past
five months were brought out in review
as accounting for the tendency of prices.