Evening star., 1901-10-05
Stocks We're Weak and Trading Dull
Again Today.
WALL STREET Is PESSIkISfIC
Bank Statement Was a Disap-
pointing Feature Also.
GENERAL MARKET REPORTS

Special Dispatch to The Evening STIR
NEW YORK, October a.-opening prices
in today's stock market were moderately
! firm, but the strength was only temporary.
Traders were again active I'm offering down
prices. and many tired holders sold stocks
as soon as the lack of good support was
assured. Activity is not a desirable con-
dition in the present state OF the market.
since the inclination to sell has undoubted-
iy become more pronounced as the week
advanced.
The street is depressed and all arguments
looking to an immediate recovery In prices
lack the ring OF confidence. The situation
In the Industrial department indicates very
clearly the presence of liquidation and a
turn OF the usual period of distrust. Anal
gamated Copper began a new decline which
reduced the price per cent and found
no support except such as came from the
suggests caution in all parts of the list.
short interest The action of this stock
since forced liquidation may become neces-
sary to repair the ravages in marginal ac-
counts.
The Anthracite Coal shares were heavy.
as the result of the uneasiness among the
laborers In the coal region. The support
has been reduced. although not entirely
withdrawn, in this group, and II seems
likely that all these shares will soon be
added to the list of properties which must
shift for themselves. The selling of Mis-
souri, Pacific resulted in heaviness In all
parts of the Gould list, while actual liquida-
tion was noticeable in the junior Wander
bilts.
All of the glowing accounts of conso.ida-
tions have faded and stocks are underg oing
process of readjustment. Atchison has
stood up well all week. as the result of
rumors of a probable increase I'm the divI-
dend on the common stock and assurances
that the pool had not sold it's holdings
The street is gradually approaching the
time when the unsatisfactory condition OF
the money market must be acknowledged
as the real reason for abandoning many
or the mantpulative plans for holding prices.
Each week there are assurances that the
banks are strengthening their resources and
that there will be plenty of funds at hand
to meet all demands.
One of the chief items. perhaps the chief
item. of concern Is the expanded condition
of the loan account. This week with stocks
declining and an actual unloading of long
stock IN progress. it was but natural to ex-
pect falling off In this item. Instead of
realizing this hope today's bank statement
shows an increase in loans amounting TO
So,345,5o0. The gain in lawful money, all
In specie, has been but trifie over one mil
lion dollars and the deposits are larger by
So, 100 800
The net result OF all changes is shown by
a decrease of $4,000 in the reserve Such
showing tends to discourage the belief
in an immediate return of advancing prices
The market Is far from being a good one
upon which TO sell long stocks, yet rood
selling is going on all the time.
The inference follows that the present
market is considered quite as good for
liquidating purposes as any in Immediate
prospect. The closing was weak and void
OF special interest. Here and there a few
stocks held better than their neighbors but
there was no snap at any point Patience
in buying is regarded as a virtue of un-
usual value at this time