Evening star., 1901-12-06
=
Stocks We're Weak and the Market
Unsettled.
HEAVY REALIZING FOR PROFITS
Belief in Lower Prices Seems to
Be the Rule.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, December Gin anticipa-
tion of an unfayorable bank statement to-
morrow and probable gold shipments next
week, today's stock market was weak and
unsettled. Prices in the London market re-
fected slight improvement over our closing
level of yesterday, but there was little busi-
ness from that center. Locally, there is
no disposition to undertake new risks, antf
In many instances sales of long stock are
going on as quietly as possible.
The character of the selling is good and
indicates very clearly a tendency to pre-
pare for lower prices.
The advance in cereals in the west has
caused interest to be diverted from the
stock market, and since such advances are
due to small crops they naturally sug-
gest decreased tonnage for the railroads.
Western operators are, consequently, some
what pessimistic as to the future of stock
market prices and the local situation loses
the benefit of an entire community of in
f1uential traders.
Professional selling is gaining in con-
hdence and effect and there is little fear
but that stocks sold on rallies can be taken
back at profit later on.
The money rate is the center of interest
just now and on all sides there is notice
able decrease in confidence to the mar
ket outlook. A furry may come at any
time but bankers say that there need be
Nevertheless, brokers advise clients to
withhold buying orders until the furry has
passed. Such advice has been proven to be
entirely sound, and to contribute to the
peace of mind of both broker and client
There Is nothing upon which to base an
advance, and as quotations will not stand
still, a better buying level seems assured.
Realizing in Manhattan was the first in
dication of weakness this morning. De-
NAL of a closer relationship with New
York Central and the extent of the rise
made 5 per cent decline simple matter
The illness of Mr.. Hartman was made an
excuse for selling Union Pacific, st. Paul
and certain other properties in which he Is
supposed to have large interests.
AS to Union Pacific, the stock has been
heavy for weeks, in spite of an effort to
construe it's action to be an effort to ac-
cumulate long stock. AS matter of fact
there are numerous judges of such matters
who regard Union Pacitic's position in the
northwestern controversy as by far the
weakest of all the roads in that section, es-
pecially as to its joint membership of Bur-
lington.
Amalgamated Copper was weak again
under considerable pressure, in which Bos-
ton was prominent. The extent Of this
liquidation, and, consequently, losses, is
likely to appear somewhat acutely toward
the end of the year. One of the largest
copper operators in Boston has come to be
regarded as an agent for Standard Oil in
terestS merely, and this construction of the
matter is comforting, inasmuch as it s,g-
gests that there is no possible hardship in
store for him, which might increase the
disaster to small holders
The steel stocks declined in sympathy,
with the general market and the Industrial
department whole was inclined to
heaviness. The high prices for General
Electric attracted sales, with the result
that fluctuations were rather wildcat times