Evening star., 1901-10-28
Weakness in the Industrial Shares
Again Today.
AMALGAMAfED COPPER WEAK
Sharp Drive at St. Paul by Selling
Crowd.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, October 2s.-An attempt to
construe Saturdays bank statement into a
favorable factor because the &,oo0oOo in
crease in loans could be readily explained
failed entirely In the present professional
market. Traders and borrowers generally
know of their own knowledge that the ex-
panded condition OF the loan account and
the prospects for gold shipments after the
middle OF the week are making restrictive
determinations in the character OF collat-
erals offered.
Call money at per cent, predictions of
an outward movement of gold-probably
Sl0oo.0o0 to 81 100000 going out by Thurs
days steamers-and a marked preference
for gilt-edged collaterals only are not fac
tors which inspire confidence In the imme-
diate outlook. There is no public to de-
ceive into accepting present estimates of
value. and perhaps 1t is better that the men
holding the stocks and the men making
prices for them should have no fears OF
stampede from the outside.
So long as there is the average amount OF
| loyalty among the partners to the recent
accumulations of securities the situation
| Is relatively safe Treachery on the part
of a single interest could scarcely fail OF
undesirable results and a substantial un-
doing of whatever good the new methods OF
finance may have accomplished prior to the
9th of May. Mr.. Morgan is again at his
desk and interest centers in his movements
In the direction of harmony and peace In
the northwest.
There is danger in that situation and the
street knows it. The public knows also.
but most important of all the contending
factions know 1t.
The latter fact is the most reassuring
| OF all. Vast interests are at stake and
the protection of them may result in a
yielding Of personal plans and theories
to the nereSSitV of aVprtiuR disaster
Renewed weakness in Amalgamated Cop
per. Sugar and the steel stocks produced an
unfavorable effect upon sentiment. The
properties first named indicated a bearish
attitude on the part of the Standard Oil in
terests, while the weakness in the latter
was construed to mean that the period of
support had passed. When Standard OIL
properties are weak and Morgan properties
are under pressure at the same time II is
difficult to keep the old rumor of friction
between these giant interests from coming
| to the surface. Denials are numerous but
| point ~
In the. railroad list St Paul was weak,
| ana carried down with IL all issues which
were advanced last week. The room saw
| in this delay In the Northwestern. situs-
| ton and was disappointed In consequence
| All of the Pacific stocks sold off and were
very heavy during the final hour
| The coal shares sold down rather easily
| all things considered, and the fractions
| were very weak under mixed selling.
| A favorable decision on Peoples Gas in
which the validity of the company's charter
| was sustained. forced a covering move
] ment In those shares. Rumors that Penn
syivania would declare no Increased nor
extra dividend came from Philadelphia &C.
| companied by liberal selling orders. Init
| nations that Rock Islands earnings would
shortly begin to reflect a decreased grain
tonnage had an unfavorable influence on
| western roads generally, Chicago houses
| selling freely. Atohison is said to be ham
| ding freight up to its capacity and expects
| no material reflection of the crop shortage