The Washington times., 1901-10-02
FURTHER DECLINES SET IN.
The Stock Market ReactiOnary
After a Firm Opening.
Strength shown in the Atchisons-
Anthracite shares Heavy Hec"use
OF Possible Lnbor Troubics-SuEnr
Refining Breaks Very sharply.

OF Possible Labor Troubics-SuEnr
RehnIng RrcnI<s Very sharply.
NEW YORK. Oct AFTER opening firm
notwithstanding renewed and material
declines in American stocks in London,
the stock market became reactionary and
extremely dun. on the reaction, however.
there were some sharp declines scored in
several directions. Fer the most part the
trading was Hstlcss and almost eNclu-
sivcIy p-ofs ssional in character. Except
for number of strii,ingiy favorable re
turns Of railway trafic for August, there
was q virtual absence Of news bearing on
particular stocks ard none Of general i'm
p9~tarcc was comprised in this morning :
intelIist nee.
strong sbowinss were made by Union
P7,igc. St. Louis and Southwestern and
the st Louis and San Francisco. 1t Is,
beycni much doubt. these wonderful
demonstrations Of the earning power Of
the countrv's great lines OF transporta-
ton which account most directly for the
teuacity with which railway stocks are
held. 1t is only natural that the partners
in such q prosperous industry should elect
TO retain their interests undiminished. 1t
was scarcely deemed possible in 1888 that
the great grins in earnings made in ls9S
could bc maintained. yet they were bet
tered in laj1 and the new fiscal year
starts of holding out every promise OF a
sti further augme ntdtion of profits.
The ,Hsct upon railway returns and
particularly those of the Western lines
Ct the shortage in the corn crop remains
eI course. vet to be seen. but certainly
the railways in the corn belt have already
rolled MP "a volume Of earnings that can
be heavily diminished before the gross
r,lalsns sink back 70 the levels of the last
f,U VARS
T-ul,ss movements in the railway list
Y're i.c.lIrs in uniformity ana cohtlnult
lhs Etchison shares were dtcldcuiy
s-rrug and reports were current IN coH-
I.rLina with their tendency lhat II was
p1' 3-oStI 20 establish the common sloSA
IL =. &. 1T C, IA basis. Broadly Spt ak
i-- thc Vanderbilt shares showed a 'tn-
GCnCy toward recovery from yesterday :
y t.I--l decline and il was said some al.
th5rGt-tiyc explanation OF the lectht
IIloll i.It Ht iu these Issues would be So1li
forthcoming Cther features of the ran
way list were Union Pacific, Souiherh
Pacific AMI st. Paul.
In the anthracite coal shares there was
htaviness- and some uneasiness appeared
to exist lest serious labor troubles might
he provoked through the demands Tor lor-
mai recognition which are now being IN
sisted upon by the mine workers union.
IL had commonly been supposed, from
statements made N the carry SI4illb upon
the settle Taent OF the labor difficulties IN
the anthrac cite regions then in progre IS
that all questions at issue between the
miners and the operators had been dls-
posed OF. at least for the year, 50 ii is
difficult 10 understand just what the pres
ont friction is all about. Nothing of con-
sequence resulted from the dealings in
the local traction stocks.
The feature of the industrial group was
Sugar Refining. which broke very sharply,
the selling being apparently induced by
apprehensions Of possible changes in the
tariff as result of the new relations be-
tween this country and Cuba. The deal
ings in the United States Steel issues
Notwithstanding the interest in the upshOt
of todays meeting of the directors. had
no very pronounced results. The Copper
stocks and copper trade conditions ap-
peared to occupy less attention today than
they have for some time. Both Amalga-
mated Copper and Anaconda Mining were
comparatively steady here. The other
stocks classed as spccialties We're like
wise fairly firm, although little was done
in that quarter. aside from the Copper
stocks.