New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1901-09-14

Vile, 21f points decline Missouri Pacific, 2%
Rock Island. 8 to points; Erie common. 5000
shares, to Ok, the first preferred. to IA
second preferred, 2h st. Paul. 5000 shares.
81 to IL points decline; United States Steel
preferred 21s United States Steel common, pa;
Brooklyn Rapid Transit, maximum decline
Of 6A points: Union Pacific. AS; Amalgamated
Copper, 39s: Atchison common, 3A; New-York
Central g. Republic Iron and Steel preferred,
AS; Peoples Gas ~
HEAVY SUPPORTING ORDERS.
Lower prices in London worked with the bad
news from Buffalo in depressing the market at
the outset but after the first fifteen or twenty
minutes there general rally, due to the
execution of heavy supporting orders given by
the most important interests In the street ST
PauTs decline was checked by buying supposed
to be for Rockefeller account. Union Pacific and
Southern Pacific showed revvng strength under
the influence of Kuhn. Loeb & Co. and Harri-
man purchases, and Morgan support was thrown
to the United States Steel issues.
Another feature Of assistance TO the market
was the rapid payment by the local Sub-Treas
ury Of all acceptances of the Secretary OF the
Treasury's offer of bond purchases. Assistant
Treasurer Jordan was much graiiiied at the
rapidity with which the bonds were coming ,in@
THE sooner the better" he said. we will be
able to meet all demands" on the Stock Ex-
change the first government bond call showed
decline of - of per cent In the 5s and the old
As, while the new Is declined 1l2 per cent. Rail
road bonds naturally lower in sympathy
with the decline in stocks.
Brokers operating for conservative interests
picked up some Of the standard shares at the
lower levels and this, together with the support
given by the banks and banking houses i'm
parted a decided degree of confidence
Sales of securities in the first hour aggregated
about 100000 shares. and by noon II was esti-
mated that over 100000 shares had changed
hands London sold heavily on balance and the
list which early in the first hour gave indica-
tions of increasing frmness, again sold off. only
to be met once more by support from the fnan-
cial interests. Through the afternoon the mar
ket was weak and unsettled huctuating with
every rumor.
MARKET CLOSES WITH RALLY.
Rather encouraging reports received
from Buffalo in the last fifteen minutes, and
hasty covering by the short interests brought
rally Of per cent and better almost all through
the list The rally was still on when the market
closed. but the list as whole showed marked
net declines In addition to the liquidation of
long stock. there extensive short selling, for
the first time in several days. Opinions differed
as to the effect which the actual announcement
of President McKinley's death would have on
prices some operators taking the view that that
occurrence had already been discounted; but the
more general belief seemed to be that there
must be still another decline although not
disastrously great one and that thereafter
weakness would prevail for some time Some of
the net losses for the day Amalgamated
Copper 5A per cent: Atchison common, 3 per
cent: Baltimore and Ohio :5la per cent Union
Pacific 3as per cent; United States Steel COM
mon 33s per cent, and the preferred. 31s per
cent; Missouri, Kansas and Texas preferred.
4ss per cent ST. Paul. 5a4 per cent; Rock Island,
& per cent Colorado Fuel and Iron, Consolidated
Gas and Delaware and Hudson, each > per cent;
Missouri Pacific. 37s per cent Erie common.
27a per cent; General Electric, 61a per cent;
New-York Central, per cent; Pennsylvania.
3h per cent. and Brooklyn Rapid Transit 4as
per cent.
TREASURY BONDS TURNED IN.
Call money opened yesterday at per cent,
and at one time, about l o'clock the rate
touched 10 per cent; but the highest rate of the
day was really per cent. the early 10 per cent
rate applying only to a few loans on collateral
of Indifferent excellence. By o'clock the rate
had declined to 61A per cent, and fifteen minutes
later il was quoted at q per cent, the closing
figure. The weakness of foreign exchange gave
rise to the belief in many quarters that goia
imports would soon be announced. In fact, IL
seemed to be the opinion that if call money couid
be kept at 6 or per cent for a day or two, I'M
ports of gold would surely follow. The ARRIVAL
of gold from abroad would. in the opinion of ex-
change experts, do great deal to quiet the uh-
easiness now existing in financial circles.
There were received at the Sub-Treasury yes
terday bonds aggregating 10000 par value
which had been purchased by Secretary Gage
under his offer of September 10 and the sum ol
SIS 514 S:5S OF, representing principal ana pre-
mium was paid out TO the bankers surrenderihs
these bonds To-day, it is expected the rest OF
these bonds purchased by the Secretary VIII De
turned In the sum TO disbursed in payment
for them being estimated at SloOoOoo making
the total sum 10 be released from the treasury
and replaced in general Circulation ps inns
operation about $1O,oooW
The Fall River Line steamer fL1 N.Y. I'm - an, t
Norwich inc steamer CITY OF Lowell Viii at
tend Yacht Races commencing Sept. 2lst tickets
g. ~ ether steamer: limited number see adv