Evening star., 1901-10-16
Stocks Closed Very Weak After a
Dull Session.
Lack of Harmony Between Some
Big Interests.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK, October 16-The opening
of today's stock market was dull and ir-
regular. Sales of long stock were reported
in issues about which some rather con-
ndent talk OF higher prices has been
heard in sources identical with those cred
tied with todays selling. There was little
commission house business and the transi-
tory dealings among traders made the
major portion of the quotations. Here and
there some rather positive arguments in
favor of lower prices were heard
The preference for time money on the
part of far-sighted and conservative COM
mission houses was pointed out as an indI-
cation OF an active money market later in
the season. Friction between two Of the
largest interests In the street was again
commented on and lead to the conclusion
that there could be no improvement In
prices While harmony is lacking. An early
decline in Amalgamated Copper was an un-
settling factor and brought out rumors of
an early cutting OF rates for the product.
Increased production and failure to in
splre new demand kept prices heavy, but
Boston was a buyer of copper stock at the
decline. 1t is the accepted belief that the
decline in copper is a manipulated condi-
recalcitrant interest into a combination
TO control the output. The short interest,
popularity supposed to be headed by direc-
tors OF the company, show no haste to
close up outstanding contracts.
Ihe denial of the rumors relative TO re-
ported selling of Erie by the Hill party
Jailed to rally the stock Of that company
Some good selling was reported hui the
price held within a range of Il of 1 per cent
or the initial transaction. No very urgent
selling nor indifferent buying is reflected by
such a record.
In conservative circles the coal situation
is regarded as promising. and IL activity is
TO be had at all this group should figure In
Ii very conspicuously.
A steady but unobtrusive demand for the
higher priced coal shares is reported. Penn
sylyania was given excellent support under
a demand in which Philadelphia houses
were again prominent.
The southwestern stocks sold off under n
small volume Of business and were given
little support. Any combination of the
ROADS IN that section must wait, not only
Tor a more favorable money market but
until other plans more nearly matured are
completed.
Some buying of Shelters common was
credited to inside interests but IL would
seem unwise for such interests to try and
1orce an industrial property into the fore
ground. Antitrust debate is an assured
fact, while antitrust legislation is less re-
mote than formerly.
The traction stock reflected a conflicting
movement. but the selling was said TO be
long stock. The short interest in this lat
ter group is very stubborn and gives little
indication Of any scare.
After protracted period of dullness the
selling broke out afresh during the last
thirty minutes. and prices were forced 10
the lowest point of the day
Texas Pacific and all the Pacific stocks
We're sold aggressvely during the final
dealings, long stock coming out on the
way down. The street is all at sea relative
to the future course of prices but is eyt-
dentiy discouraged with the outlook for
anything more substantial than a rally.