The Washington times., 1902-10-08
BEARS ENGINEER RAID
AS PRICES MOVE DOWN
Attack on the List, However,
Not Very Exciting-Liqui-
dation Begins to Reveal
Hidden Support.
Canadian Spectators n
loading Stocks-St. aul
Common Heavily So q
General PositionImproved

06Il6I dl OSlllOllllliplCN
NEW YORK. Oct. Liquidation
again continued today in the stock mar
ket, but was offset by covering of out
standing short contracts and large pur-
chases of stock made by substantial and
important interests. Such support was
BY no means general, but 1t was strong
II in evidence in spots, and, as this is
the first time for considerable period
that the phenomenon has been wit
messed. the event is significant. The
balancing of these opposing forces re-
suited In a steady market during the
forenoon.
Later scattering and not very furi-
Gus bear attack was made. said to have
rs its reason the reported illness of an
aged money lender, which sent the
prices Of some stocks below yesterdays
quotations, but though the market re-
manned nervous and feverish through
out the afternoon, it held its own very
we'll, and closed firmly, though at a level
Q little below that of the day before.
Little Attention to News.
Nobody seemed to pay any particular
attention to the news of the day. That
the governor of Pennsylvania had final
ly decided to use the entire power of
the State to protect men who desired
to 90 to work in the coal mines was ia
vorably commented on. but doubts were
expressed as to whether the result of
the experiment would show that coal in
quantities sufficient to relieve the pres
ent scarcity could be produced.
Comparatively languid interest at
tended the announcement of the Presi-
dents appeal to John Mitchell.
Wall Street has now become as ex-
tremely skeptical of the success of all
efforts to end the coal strike as it was
previously unwilling to believe that a
coal strike would occur or that it would
not end speedily after it had begun.
Call Money Easier.
Call money was easier, sterling ex-
change much weaker London operators
seemed inclined to buy rather than to
sell. and all the news of the day was
favorable. The Great Northern Rail-
ways statement of an increase in its
gross earnings for September of s515,-
759 and the report of the Southern
Railways gross increase similarly for
the fourth week of September of s221,-
AS. afforded striking evidence of the |
fact that whatever tangle Wall Street |
has got itself into the business of the
country is progressing magniflcently.
Liquidation seemed to be heaviest in
st. Paul common and in the stocks that
have been recently favored to SC great /
m extent by Canadian spectators In
St. Paul a speculative account was ap-
parently being closed out. and the i'm
preston prevailed that it might be
long time before the anticipated rights
on the stock were issued.
Canadian Operators Sell.
The shares sold by the Canadian OPP
orators were Canadian Pacific. Sloss-
shefield Steel and Iron. the. Twin City
Rapid Transit, Minneapolis and st. Paul.
and sault Ste. Marie common and pre-
Ierred. These are stocks in which a
huge speculation had been built up IN
The present year all over Canada. In
,ther markets stocks dealt in by Cana
liam operators, notably the Dominion
IRON and Steel shares in Boston, were
weak. The gas stocks reflected the fears
If those who possessed them that the
yas companies would have difficulty in (,
coal If the trouble in Penn
'ylvania continued. On the other hand, /,
,yer $4,000 shares Of Union Pacific COM
non were taken by brokers who are con-
idered the personal Representatives on {
he stock exchange OF the great banking y
louse identified with the Union Pacific
railroad. The Atchison shares were =
imilarly bought, although the Gould l
hsres were apparently left to take care
z themselves. s
The Position Improved. c
AS the market has now had six days
{ decline. and the prices of stocks have 7
alien between $40 and 500 a share I
throughout the list. the speculative po-
ition is greatly improved. Part of the +,
resent stringency of money has been 7
caused by the preparation =
,r syndicate nayments. which mature p
'ithin short time. Settlement of these a
,atters will soon be made, and their 4
nfavorable influence removed Q
Five millions of gold from San Fran p,
sco and Europe will also be at the e
larket's disposal in a day or SO. 1t
ould not be surprising If the market r.
the immediate future began to dis -
,unt these advantages. r
ew York Stock Exchange, October ?. Al
The following table shows the highest,
west. and last prices of all stocks sold ~