The age-herald., 1901-10-06
STOCK DULLNESS
 AGAIN PLAIN The Selling Pressure Relaxed of Its Own Accord A HOLIDAY IN LONDON The Artificial Support Which Was Necessary During the Crisis Is Gradually Being Withdrawn
 Under Normal Conditions.
A HOLIDAY IN LONDON

New York, October 5.-The holiday m London today accentuated the oulihesS here and tended to relax the selling pres sure, as London has been constant seii- CT on this market of late. The 1act 'ha' there is no loan market at the stock ex- change on Saturdays also tended to relax the pressure upon the market. Fercep- tion is growing of the fact that the ques- lion of the effect in the interior demand for stocks has solved question or now much further stock market liquidation may have to extend. While there mas been no stringency of money during the week, laxity has been due to the fact that in reducing their outstanding loans, bankers have been discriminating against industrial collateral rather than making up the ruling rates for call loans. Ow- lng to the continued firmnes of sterling exchange, in spite of a larger supply Of cotton bills this week. relief by gold i'm ports appear imminent. Demand contin- ues from bankers short of exchange, and experts in that market declare that large short interest remains to be cov- cred during November. It is said that some fresh sterling loans have been ne- gotiated this week. The loan increase in the bank statement revealed that other forces are still at work in the market which offset the stock market liquidation. This and the renewed pressure against Amalgamated copper depressed the whole market
 There has been some irregularity in the stock market from time to time during the week, and dealings have been on small scale. The course of prices in the main has been downward, and the weak hess increased during the latter part of the week. The support of the market at the weak spots which was feature during the crisis following the assassina- lion Of President Mckinley and which was attributed to the joint efforts Of the great banking and financial power of the country has been conspicuously lacking. Liquidation has not been heavy nor ap- parently urgent but very light demand was forthcoming at the declines and there seemd to be a general agreement of sentiment in the street that reaction hry movment was due and need not be contested. This is an acquiescence on the normal course of prices of securities at this time of the year, when the lar gest demands are annually made upon the money markets for fall trade, the moving of the crops, and the period of waiting for the situation to shape inself concerning the outlook for the coming year.
 The artificial support which was con- Eidered necessary when the crisis came has now disappeared under normal condi- lions.
 Some of the minor railroad stocks which had been subjected to operation by speculative pools, suffered wide relapse. but the most striking effects were shown In the long list of industrials. Attempts to make the settlements in some of these stocks resulted in a collapse of their prices into fragments. Several factors have combined to awaken the late dis trust with which these securities are hab- ltually regarded and wlIichis reflected in the lower prices at which they sell com pared with the rate of dividend returning shares. g'+ 1 s
 Railroad bonds have been dull and ir- regular.
 United States 2's declined & over clos Ing and the new fs 1 per cent The re- funding 2s advanced as over closing call of last week. '- '-' -
 New York Stock Market.
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