Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-10-27
FINANCE AND TRADE
The Stock Market Was Dull
and Listless.
TRADERS SOLD FREELY
ALL THE NEWS HAD A BEARIsH
TENDENCY.
Money Was Easy, But the Market
~ ~
TRADERS SOLD FREELY
Money Was Easy, But the Market
Was Helped by Artificial
Means.
Special DIapate,A 70 The Evening star.

Special DispatcA 10 The Evening star.
NEW YORK, October 27.-Today's stock
market sagged under neglect by the larger
interests and a mixed selling movement by
traders. London sold some $1,000 shares of
various issues and bought Northern securi-
ties. The moderate demand for the latter
is credited to predictions from inside
sources that the remarkable achievements
of Great Northern will be duplicated by the
holding company.
Locally, there is q dc sire to have the SUI
preme Court pass upon the legality of the
merger before buying extensively in.o the
property. Election forecasts were the cause
of nervousness in speculative circles, ard a
free selling movement set in on a few of
the pool favorites. Norfolk and Weste. n
continued to yield to steady sales. and the
entire soft coal group lost ground in con-
sequence. Union Pacific sold down under
continued offerings, and the Southern Pa
cific pool had to take more stock In the
effort to hold the price.
Missouri Pacific and the Gould shares
generally reflected mixed selling, and the
higher priced investment shares gave al
most no evidence OF, really good buying.
In the Industrial list the same heavy
tendency was noticeable, an early demand
for Colorado Fuel giving way to general
lack Of speculative interest. Commission
houses were without orders and customers
awaited covering movement in the hope
of getting out of present holdings.
There is a good-sized short interest in the
market. but there is little indication of a
plan for forcing it out. So far as surface
conditions in Wall street go, the trader
short of the market with neither interest
nor commissioners to pay has the best of
the argument. Conditions outside of Wall
street are remarkably encouraging, but, as
previously pointed out, the hanks are in no
condition to assist in exploiting them.
Money on call Is easy enough, but time
money rates show the banks to be extremely
cautious when planning ahead. The ease
In money for the present is entirely due to
government assistance, and artificial de-
vices are rarely lasting. Above everything
else looms the debt we owe to Europe and
at this time the means of payment are
rather vague. 1t is at least reasonable to
expect that liquidation will be the means
toward the adjustment of a considerable
portion of this obligation. -,.-
Added to the monetary condition is the
fear OF political surprises in next months
elections. With labor uneasy under the
burden Of the increased cost of living and
the trust question clamoring for immediate
recognition, the abuses Of prosperity
threaten the overthrow of it's advantages
Big undertakings are compelled to wait
and little things, merely because they are
little, are disregarded. The market Is neg
.lected because of its uncertain future, and
in some cases the uncertainty is welcomed
because of the fact that fear is not def
initely furnished with definite cause of
existence.