The age-herald., 1901-10-16
WEAKNESS SHOWN
 IN STOCK MARKET Market Closed at Lower Level
 Than Yesterday PENNSYLVANIA IS LIVELY
Renewed Heavy Demand for Currency = From the Cotton centers Is a
 Disturbing Factor-5onds s. Were Qulet.

New York. October 15.-The movement of prices in todays stock market lacked clearness and coherency at all times. Opening weakness gave way to a period of strength which was met by profit-tak- Ing and the resulting reaction was vigor- ously contested by aggressive manipula- ton, of Pennsylvania.
 The whole market finally gave way to weakness and closed at a level lower than yesterday, net losses reaching point or over in some of the leading prominent stocks. The only aggressive force for rise in the market was what might be called the formal invitation, is- sued by the arch-manipu1ator in the street to the public to follow his leader ship in a speculation for the rise with suggestive glance towards Southern Pacific as an available market leader. This invitation made its appearance in circular form with an appropriate demon stration in the market to herald 1t. As the author has been associated in the Wall street mind with the organized support of the United States Steel stocks, those stocks shared in yesterdays demon stration, but the sequence today was less convincing. Southern Pacific, indeed, started. off with a furry and St. Paul made a preliminary advance of IA. Other stocks to respond were few and the ob- vious fact that heavy realizing was going on in the Pacific group of stocks and St. Paul served still further to disincline the public to accept the invitation to speculate.
 movement in Pennsylvania which de- yeloped later and which carried the stock up two points, was nominally based upon the heavy traffic movement over the company's lines, but the remembrance of old associations of the author of the invitation referred to, with market move ments of this stock, aroused suspicion of possible connection on his part with the movement. The buying was con gested, but also was the selling; one brok- craze house being credited with sales of 20DO0 shares. The last price of the stock showed only fractional remnant of the extreme advance.
 Last weeks enthusiasm over the all leged plan of a proprietary company to hold control of Great Northern preferred; ; Northern Pacific and Burlington and ito realize large amounts of tied-up capital" has entirely eVaporated as the release of this capital is seen to be contingent upon the investing public taking the minor portion of the stock of the projected new company off the hands of the projectors.
 4he renewed heavy demand for cur reney from the cotton centers were a dis turbing factor in the late trading. There were. transfers through the sub-treasury of S500,000 to New Orleans and of $500, 900 to St. Louis. On the other hand rise in exchange at Chicago to 10 cents premium marked the cessation of the demand from that quarter. There were no payments for bonds by the sub-treasury today, the belated settlement of that account having apparent been completed and the gov ernment institution has withdrawn $1, 500,- 000 from the market since Friday. The downward tendency in sterling exchange was checked and London was a seller of stocks in this market
 There was a somewhat feverish specu- lation in Amalgamated copper which lift ed the stock over a point, then drove it down three points and left it with a net loss of .k.
 Railroad bonds were quite active and generally firm. Total sales, par value $2,7l0,oeos United States bonds were all unchanged on the last call
 - New York Stock Market.