The age-herald., 1901-10-09
STOCK SENTIMENT
 VERY UNSETTLED
Professional Traders Impressed
 by Yesterdays Buying
BEAR INTERESTS AT WORK
There Was a Disposition to Cover Short Contracts All Day-Prices Touched Their Highest Level
 Late in the Afternoon.

New York, October s.-The conflicting and varying movement of prices In the stock market today showed that specula- tive sentiment was considerably unsettled The impressive buying of yesterday Whlch came from concentrated sources evidently made an impression on professional traders. They were inclined to take the view that the wavering movement or the market yesterday was a culmination or the downward movement, large bear in- terests taking advantage of a raid on leading stocks to cover their short con- tracts. Influenced by this conviction there was a disposition to cover short lines today. A drive against Sugar and Brooklyn Transit after the early strength unsettled this conviction, but the bears had evidently lost their aggressive spirit and did not pursue their advantage, but took occasion to cover their short lines against it. Prices touched the highest level in the late afternoon, but the situ- ation again overcame the spectators and prices sold off again making the closing casy. The signs of an oversold condition of the market were balanced against the 1orsisting doubts and dread that the money market resources are not sufficient to save the situation for the remaining period of interior demands for currency. Back of this lies an apprehension in some quarters that the present reaction ary tendency of the market may make a. step in a prolonged downward movement preliminary, to a coming cycle or oeciin- ing trade and industry following the cul- imitation of the late period of prosperity. Even supposing such a period has fairiy set in, the normal course of the decline Is sure to be punctuated by occasion up- ward reactions.
 . Of special influences at work today the publication of the unfavorable August statement of earnings of the Brooklyn Transit was regarded as the continuation of the unfavorable conditions for that stock. The steadying of the raw copper market in London seemed to affect Amal- gamated Copper favorably. There was also report of a settlement with con tending interests. The death of the Ameer of Afghanistan was depressing factor in the London market which was reflected here. Movements in the foreign markets were decidedly confused. Consols dropped sharply and the fall in sterling exchange at both Berlin and Paris seemed to re- nect some Ol Aol IhS day, this in spite of repurchases for Paris account in the London stock market. In- terest rates also declined in London, not withstanding the installment of subscrip- tions due on the new consols cn Friday, which amounts to some s25,0e0,G00
 Sterling exchange in New orlt contin- ued firm, which was probably the donin- ant influence on the decline in the Lon don money rates W fT
 The recent reports of a coming increase in the Atchison dividend rate persisted today, but that stock showed less firm ness than others in the list and closed at a net decline.
 Railroad bonds shared In the irregular ity of stocks Total sales, par value; g., 275,O00
 United States bonds were all unchanged on the last call.
 New York Stock Market.
 By Private Wire to Murphy 6 Go.