Evening star., 1901-08-10
Prices Somewhat Lower Over Sunday
Liquidation.
BREAK IN PEOPLES GAS CONTINUES
Bank Statement Was Rather Worse
Than Was Expected.
GENERAL MARKET REPORTS
pecial Dispatch to Tho Evening Star.

Special Dispatch to Tho Evening Star
NEW YORK, August 1O.-The stock mar
ket today was duh and professional. but
rather heavy selling Of stocks by the trad
ers and some western selling and liquida-
tion by people not willing to carry stocks
over Sunday resulted in a lower range OF
prices before the close. The declines were
not serious except in one or two securities
and the movement apparently differed lit
tie from the small surface fluctuations that
have taken place during the past week.
which have resulted In nothing in particu-
lar either way.
London sentiment was more hopeful this
morning, -consols being up. and the prices
of American securities showed gains over
last night Of from u to q. As a result OF
this, perhaps, the first trading In this mar
ket was fairly firm. Very shortly however
decline began in the grangers which was
followed by fractional recessions in other
parts Of the list.
The Secretary of Agriculture was quoted
In the street as making a rather pessi-
mistic statement regarding the outlook for
the corn crop. This, with numerous west
ern dispatches predicting that the govern
ment report will make a very poor show
Ing. much worse than has been expected,
seemed to be the chief cause of the change
of tone in the market.
The coming report Is one OF the most i'm
portant ever issued by the Agricultural
Department as far as the street is con-
cerned. At the same time the crisis of the
steel strike Is at hand. Under the circum-
stances. with the holiday intervening be-
fore there will be another chance to op-
crate In the market, it was not surprising
that there should be few people anxious
to get out Of the market, in addition to
the professional selling, which in reality
formed the greater part of the business OF
the session.
The steel securities were supported by
the same interests that have held them up
during the earlier stages Of the strike.
Ihey were among the strongest stocks on
the list. The grangers, on the other hand,
were among the weakest. st. Paul, Union
Pacific and AtchisOn common all making
rather sharp declines.
st. Paul went off despite the fact that the
statement Of the gross earnings OF the
company for the first week Of August
shows an increase of $4,000.
The break in Peoples Gas stock yester-
day afternoon was continued this morning.
though it was said in the dispatches to con-
servative houses that the suit against the
company was instigated by a sensational
newspaper and will in all probability
amount to little.
The bank statement was rather a worse
showing than has been expected. There
was a net gain in cash of only 81 .1O0O 900
and an increase In loans of $1,000 600
Reserves decreased 81 212, 900. The de-
crease In surplus reserves cuts the amount
down to little more than S2OOO0OOO.
The large increase in loans Is perhaps due
terestS In the market which have required
rather more cash than was expected. After
the statement appeared the selling was
continued and the close was at the low
level for the day In most securities. The
declines were not large. however.