The times. [volume] (Richmond, Va.) 1890-1903, 1901-10-17
LOSSES " ERE
RULE. YES l'E :.
Bear Raid on Copper Unsettled,
Market Eaily in Session.
MONEY DEPRESSING INFLUENCE,
Market Vas Weak Until ro,m Traders Took
Profits by Covering Their Short
Contracts-Bonds We're
Less Active.
MONEY DEPRESSING INFLUENCE,
(ir Associated Press !

| !
NEW YORK, Oct. 16.-To-Gay's stock
market rejected u puzzled ana hesltat-
ing mocd, amongst professional operators,
| who again MADE up the bulk of the
| market. here was marked disnciina-
tior to take on long STOCK ana some tiiniG-
ity about making contracts on the short
side. Several special factors turned the
tide toward depression, and net losses
were the rule, although they are not inn
portant in the general list An organized
| peal campaign against Anna lg;imated
Copper. which was aided by much outlay
| of printers ink unsettled the market
early in the session.
houses. The price fell at one time 23s I'M
der Yesterday, and closed al a net loss of
points. The break in Amalgama ted
fsRnsy nnd an its ns aRea zto
prompted by the report OF the sale or
twenty million dollars of bonds by the
company. This was held to account tor
the large buying OF stock yesterday. The
effect of to-days announcement, how
ever. afforded little opportunity for profit
taking on yesterdays purchases, although
much interest was shown as to the pur-
pose to which the purchasers OF proceeds
of the bonds were to be applied. AS the
other railroads. SO TAR as acknowledged,
had been provided for in the annual stock
issues. 1T was supposed that the purchase
OF the control of the Cambria Steel Com
pany was being provided for.
The market showed tendency toward
stagnation during the afternoon until a
sharp raid against the Southwesterns
late in the day awakened some uegree
Of acsy vi at the OF nv
all the members of the group: Bear
operators professed to detect evidences
of inside selling. which was attributed
to the account OF the interest dominant
in the group and supposed to be prompt
ed by poor outlook for traffic on account
OF BAD crops
what depressing influence. A transfer
through the sub-Treasury to-day Of $50
600 additional to New Orleans adds to the
apprehension that the belated movement
Of cotton will cause larEe requirements
III that quarter. The transfer to New
Orleans thus far this season through the
compared with $7,420,030 to this date last
year. Last year, however, the Galveston
relief measures were responsible for a.
part of the movement.
The renewed currency movement, the
Withdrawals by the subTrsasury on &C
count of the surplus revenues and some
special demand from Buffalo to meet q
run on a trust company there will all
affect the cash showing of the banks this
week. The question is now canvasse6 a.
to the effect on the loan item of the pui
chase of PENNSYLVANIA Company. BONDS.
the soft coal consolidation. which is in
process of formation. and the transfer of
a great mercantile establishment which
was reported this morning. The emphatic
denials by President Hill Of last week s
rumors OF transcontinental railroads con-
SolldauonS was another chilling effect on
the speculation. The market was weak
until the rom traders took their profits
by covering their short contracts. Sales
OF Lake Shore at 300, a record price, was
an incident
Railroad bonds were less active than
yesterday. Total sales. par value. S2.2SJ.-
600. United States IS coupon advanced
y per cent. on the last call
The total sales Of stocks TODAY were
41I,900 shares.
MONEY AND ENCHANGE-Mone7- on
call steady at 1887 per cent: last loan,
= per cent: prime mercantile paper, irGD
. per cent. Sterling exchange about
steady with actual business in bankers
bills at $IS5ai for demand and a t 81 S:asGD
Sl.S4;5d4.SI and S4.S7: commercial bills,
81. a"Gf4. ST.. Bar silver. 57l%: Mexican
dollars. 45E. Government bonds irner:
regular