Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-10-13
Stocks Were Lower as Re-
suit of Dear Money.
RECOVERY AT CLOSE
DUE TO RUMoR OF STRIKE SET
ELEMENT.
There Was Good Buying of the Active
List on the De-
clines.
Special DISPATCH to The Evening Star.


NEW YORK. October 1a-In the
London market today American rail-
way shares showed declines extending
from " to per cent below the closing
figures at New York on Saturday.
In the local stock market opening prices
were weak and the trading active and
feverish
There was no new development in regard
to either the monetary situation or the
labor troubles. but the selling orders from
the interior accumulated over Sunday and
the lluuidating condition of some of the
pools around the room had a depressing in
nuence on the speculative temper. Initial
losses averaged from 4 to PC.
After the first few moments of trading
shorts began a covering movement which
caused moderate rallies. but these frac-
tional recoveries did not hold and on fur.
ther llquldat!ng sales the general market
again became weak, causing losses in some
cases, or over per cent below first pric S
In this second decline the most conspcu-
Gus features were Missouri Pacific. St
Paul, Southern Pacific Union Pacific
Atchison common and preferred Louisville
and Nashville, Canadian Pacific. uIino
Central Delaware and Hudson, Delaw
Lackawanna and Western, Reading SMEAR
Tennessee Coal and Iron Sloss- Sheffield st
Louis and Southwestern and Metropolitan
In government bonds the new As lost one
fourth of l per cent, while railroad bonds
were active and lower In sympathy with
the decline in stocks
Money up to the noon hour had loaned at
10 and Is per cent
Notwithstanding some absurd bear
rumorS as to the health Of this or that
hnancfer or the calling on this or that large
operator for margins without avail, the
market acted more regular and with less
show OF anything really disturbing than is
usual at such time. The declines in the
early dealings were steady. but at the same
time a good market was found for stocks
as they sought a lower level. and this
lowering of values should have a beneficial
effect on the money market, while
1t Is not unreasonable to expect that
the coal strike has reached such a pass
that public sentiment and public needs will
very soon force a settlement of that Intol-
cradle dispute
In the early afternoon a recovery of from
"A to " Fer cent took place on, rumors OF
activity among the coal operators and from
the fact that another conference of the
dinerent coal presidents was being held.
Baer of the Reading was not in attend
ance at this meeting. and from this fact
some important developments in the way of
been rife for the past few days that there
were discussions in the operators councils
and it is known that tremendous pressure IL
being brought to bear on the people re-
sponsible for the deadlock.
In the recovery in prices it was noted
however. that the market still showed much
nervousness as the money situation Is still
unsettled. and most Of the traders are in
clined to be bearish on the general out
look.
In the late trading the market ex-
hibited a better tone notwithstanding the
stereotyped reply of nothing to say"
after the adjournment of the coal opera
tors meeting. In contradiction to this
WORKOUT reply, there were rumors on the
stock exchange that the miners would re-
turn to work in two days. and this report
although rot verified. led to some covering
Of shorts and encouraged q little buying
for rally.