Evening star., 1901-10-02
Bears Still Had Best of 1t in Wall
Street.
ATTACK ON The INDUSFRIALS
Brooklyn Rapid Transit Also Sagged
Under Pressure.
GENERAL MARKET REPORTS
'ecial dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. October 2.-The stock mar
ket showed some tendency toward harden
Ing during the early trading this morning.
but the volume of business was not equxl
to sustaining the advance. London traded
In about 15.oo0 shares OF stocks the major
portion OF the business being sales. Lo-
cally the professional element controlled
prices. and as usual preferred the short ac-
count. In few instances some buying
rather better than the recent average was
reported.
Atchison was taken in quarters usually
close to inside interests, and some talk of
an increased or perhaps an extra dividend
on the common was heard. The injury to
corn along the lines of this company has
probably been overestimated and should
make little difference in the income ac-
count. The announcement that the COM
pany will share with Union and Southern
Pacific the facilities of the Pacific Mail
Steamship Company instead of going to the
expense of acquiring an independent line
had good effect.
The Nickel Plate issues were taken by
brokers heretofore prominent in them, but
there was some evidence of proft-taklng by
the speculative pool in those shares. The
to come at the time predicted. hence a de-
crease in the buoyancy of the Junior issues.
Practically all Of the shares which are
classed In the active list declined fraction
ally In sympathy with the heaviness in the
general speculative situation
The steel companys report was quite up
to expectations, the surplus after dividends
for the six months being in excess of Sl2-
Ooo.Oo0. This showing, coupled with the
fact that a detailed statement was submit
ted for public inspection, Will go far toward
adding unusual dignity to the securities of
the property. The stockholder in the steel
company Is partner I'm its business in
stead of the dupe of salaried officers and
speculative directors.
Other industrial concerns which are not
willing to become equally frank must suf-
fer in the eyes of public which Is be-
coming more and more discriminating.
Sugar and Amalgamated Copper rallied
a time under the covering OF short con-
tracts, but there is no evidence of really
good buying in either issue.
The cut in the rates of the refined product
was anticipated by yesterdays decline In
sugar, but there was some scattered SELL
ing Of long stock today by holders who
knew of the company's action only after
the act.
As has been the case for several DAYS.
some one stock has been selected a spe-
cial point Of attack.
Today Brooklyn Rapid Transit was sold
down over per cent and found little sup
port except from the conspicuous sellers
al nigher prices This policy of going
through the Industrial list and forcing de-
ciines has its effect on the general market
py discouragfng new business and creating
rear that Vulnerable places will be de-
veloped In other departments.
The dullness increased at the low leyels
TO-DAY, and the market came TO frequent
pauses during the final hour. Some rally
az the expense of the short interest seems
probable since liquidation ceased at the
decline. but rallies are all that the immedi-
ate future suggests.