The Washington times., 1901-10-04
FIRM IN THE FIRST HOUR.
The Stock Market Then Weakens
and Becomes Irregular.
The Lack of Outside Interest n Check
on General IConditions-Room Trtd-
ing Constitutes the Bulk of the
Days Dealings Money Easy.

NEW YORK. oct. 3.-There was no ma
terial alteration today in stock market
coIliitions Genuine outside interest
was again largely suspended and such
price movements as resulted from the
trading were owing almost exclusively to
the ventures OF the purely speculative
clement The absence of genuine iqui-
dation deferred that class from aggressive
operations on the short side, and. in fact,
made them rather disposed to reduce
short contracts.
on the other hand. commission houses
again reported an utter absence Of outside
interest in the market one way or the
other A common query in Wall street
nowadays is as to where stocks are
lodged, or in other words, who Is hololns
the securities with which Wall Street
formerly used to play. Some light may
be thrown ON this subject by glance
over the list Of securities devised by a cit
izen OF the State of New Jersey who left
the bulk of his property to the Meropol-
ian Museum of Art. II will be seen from
the sch, dulles that this unconspicuous
millionaire was the holder of large
amount of railway shares, both active
and inactive and not on margin. To put
it in another way, Wall Street fails, as
recognize the enormous increase in the
wealth of the country.
The annual returns of the country s
great lines of ruft-ver were ar attest to
the fact that in simple words they are
making money to an extent far beyond
the expectations of the men who only
lew years ago Were engaged in scaling
down their fixed charges, assessing the
corporate equities in the properties. and,
as if they had no more than a merely
contingent value, If indeed any at all
The present periear IN Wall Street is one
of comparative quiet, and market move
rn<nis are. governed almost wholly by
technical trading circumstances.
1t is evident at all events. from the
earnings of the railways, that there is
little or no diminution in the distribution
Of commodities. 1t may be said, of |
course, that such gains in earnings as !
are now being feported cannot be main 4
u Is only necessary 10 cite the fact that
few people conceived it was possible that
the earnings of last year and the year
before could be exceeded.
The stock market opened firm. and con-
unued so until the close of the first hour
after which irregular tendencies devel-
opeu London sent in lower range of !
Prices for American stocks and was a !
seller on balance TO small extent hut
apparently the dealings were governed
eAcluslYely by local considerations None
gL . ne stocks recently conspicuous in the
lraulng occupied a prominent position.
brooklyn Rapid Transit was one of the
ictiFe features OF the market and appar-
shtiy found some support at today's low
eVei- Yesterday afternoons late reports
II very heavy bond issue on the corn ,
'any,s elevated lines were altogether un-
The United States Steel
ssues fuotuated only moderately, and |
,othing else of interest took place among
he industrials save for moderate i'm
lroTement in Sugar. Refining. Among
he specialties Peoples Gas was conspicu- ;
usly weak, and other sharp declines !
we're scored in Consolidated Gas and ..
Glucose Sugar. Nothing requiring COM
nent was noted in the railway list
The money market continued easy and | !
he figures of the transactions between
be banks and the Sub-Treesury indicated
further gain to the former. Sterling ;
was steady. and barring the
dvent of closer monetary conditions, it ,
GEMS most improbable that any i'm
ortatfons of gold need be looked for
Immediately from Europe.