Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-10-21
Little Inquiry for Stocks on the Part
of the Public.
THE TENDENCY Was DOWNWARD
j. P Morgan's Return Expected
to EnIiven Business.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK. October GA complete lack
Of new incentive resulted In a restrict I'd
and doubtful stock market this morning.
London sold about 10000 shares of rliscel-
laneous stocks during the first hour and
sent over practically no other business.
There is no public demand for stocks, and
the feeble efforts to create one fall very
fat. Influential interests hold stocks now.
and so far the public IS concerned this
condition is not likely 10 change. There Is
a discriminating demand for high-grade
shares In progress. and in a few instances
In which value exceeds the market price
there may be legitimate advances. With
this exception there Is an evident conf
dence In lower level Of prices toward the
end of the year.
Gold is not to come from Europe by nat
ural means and there may be some effort
made to prevent opposite movement.
Bankers are quoted as believing In nor
mai money market, but this belief Is predi
Gated upon an inactive stock speculation.
An active borrowing demand from Wall
street, coupled with the ordinary demands
OF trade, would at least cause firm rates.
II not temporary stringency. The numerous
considerations upon which interest has
been fed for some months cannot thrive
upon this prospect One or two such
transaction might be financed but the I'M
dertaking of one must Of necessity post
pone another.
The failure of the corn crop in the south
west and the lack of harmony as TO the
basis Of the transaction have been de-
ton OF the so-called Gould Issues This
group was heavy today, the selling of
Missouri Pacific being especially conspicu-
at one time.
In the northwest it is difficult to deter
mine to what extent. IL any, there has been
reconciliation of the differences between
the Morgan-Hill and Hartman interests.
Rumors that Northern Pacific preferred
xrfarrrd ha s,-rl
certain influential quarters and tae belief
expressed that hostilities had ended
Should such be the case the market Eo1ld
be relieved of a most mischievous problem.
Actual assurances can be waited for with
profit. however since any second yielding
to the stubborn vanity which destroyed con-
fdence on the 9th of May would b.. dis
astrous under present conditions.
The chances favor an adj ustment at pres
ent and Mr.. Morgan's return about the
middle Of the week may inject some ag-
| gressiveness into the effort. The buying OF
| Erie and Reading well as of the high
| priced coal shares Is taken to indicate some
| definite plan on the part of the Morgan
| office for increasing prominence, II not the
value, OF these shares. A meeting OF
Nickel Plate directors is expected during
! the week to organize the board elected last
| spring, and 1t may be that some plan for
| the closer relationship of all the Wander
Dit properties may follow. Whatever Of
new financing may be in contemplation on
| the part Of the larger properties there are
reasons for believing that either the Van
derbilt or the Hill-Morgan group WI be
given the preference.
1t is doubtful if such enterprises will do
more than give prominence to d few stocks,
however the general market being subject
to more comprehensive conditions. Anti
trust debate Is an almost certain prospect
and while much of it may be inspired by
stock jobbers, IL will have a depressing in
fuence on the Industrial list. This pros
pect and the uncertainties of the money
orb IND.
decline In Amalgamated Copper today Off
set its advance of Saturday, and started
selling elsewhere, which resulted in a
heavy market at the end of the day ,,nder
meager dealings.