The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-10-09
GOSSIP OF WALL STREET.

The opening market was heavy yesterday
on the lower tone In London, lack OF com.
mission house orders here and early sellin
by traders. Ut. Paul was Oh y. Union Pacific,
Steel common and preferred. Atchison and
Amaieamated Copper were OF X.
Ten minutes after the opening the tradera
were making demonstration against Copper
y. W. Henning, W. b. Mack. and Honigman
BROS. were heavy sellers. The stock again
assumed the tone OF weakness 80 noticea bile
on Wednesday and sold OF rapidly on the
hammering At 1880 o'clock a string OF
sales came out which carried the price from
81 down to 3o1S in a slump and before noon
It had touched s6h. 1t held at these low
levels until o'clock. when II was rallied
to 81.
Traders were helped out in their move
ment by heavy selling OF Copper for Boston
account. Halsted 4 Hodges seemed to have
supporting order in II In the morning
around s8n. They stood In the crowd and
bid for it at that figure. The weakness in
the stock continued into the afternoon and
was the feature Of the day on the floor Three
minutes before the close decided pressure
was put on the stock. Curre Bros. sold
5000 shares and Talbot J. Taylor stood in
the crowd around the post and offered it in
II.
1t closed at 3'H. loss Of 81 points for the
day.
Outside Of further cut OF 4 OF q cent
pound in the metal. there was no definite
news to account for the decline in the stock.
The rumor that at their approaching meet
ing the directors would pass the divi-
dend was again In circulation, but was
uncon6rmed. The Anal weakness Of the
stock had the effect Of closing the general
list at nearly the bottom for the day,
The first sale Of Consolidated Gas to come
out yesterday was OF 100 shares at INK. a
decline OF exactly two points from the last
sale on Wednesday. The stock closed at my.
1t was said that the selling OF Consolidated
Gas and Metropolitan Street Railway which
closed at 1903. a net loss of ~ points. was
for Philadalphians who sold the same stocks
n week ago.
The frst sale Of sugar recorded was at 10sh.
The stock closed at NIX on Wednesday.
1t closed yesterday at 100.
Smelling common was picked ont by the
bears as an industrial which was selling too
high for a non-dividend paying issue. They
tested it in the morning. but found that 1t
was well held. In the afternoon they got
around to 1t again and this time succeeded
in closing 1t at 4o'i, X points under Wednes-
days last sale.
The pressure put on Steel common in the
morning was very evident. The stock opened
at 1871 and under heavy selling went OF
rather fast. II wasn't going fast enough to
suit the sellers. however. and they applied
more pressure. About noon the price was
1874. few minutes later there appeared
on the tape sale of 1000 shares at 1875. and
then in quick succession. 800 at is. 5000 at Is.
1000 at Is, and. after the lapse Of a minute.
100 shares at AK. the low price for the day.
The stock rallied quickly to 1871. showing
that II stop orders were the quarry it had
slipped.
Among the heavy sellers of Anal gamated
Copper were Housman. 5000 shares Alley.
ConRsr & Co. G. b. Hopkins and traders.
Mcintyre Il Marshall. /. \. SpeigleberR and
II. Content, who took 5000 shares. were
buyers Bears were Offering the stocks
dividends in 1904 at ~ per cent.
The strength Of Erie through the day at
tracted much attention. With Atchson.
Pennsylvania and Union Pacific it was the
most active railroad stock traded in 1t lost
only point. closing at n after considerable
hammerinR. Pennsylvania lost point and
Atchison and Union Pacific lost ~ and *
points. respectively The action Of the
railroad Issues confirmed the tendency no.
ticed on Wednesday to break away from
the weakness OF the industrials.
Tennessee Coal and Iron was weak on the
theory that 1t would show q falling OF in
business proportionate to that OF the Steel
Corporation. 1t sold at one time az points
under Wednesdays last figure and closed
at 2ST, loss Of az points Some Of the
selling orders in the stock were for Baltimore
account.
Harris. Gates 4 Co. were again heavy
sellers of stocks around the room They sold
Copper among other things.
Two brokerage houses have retired from
business. Henry P. Toler Of Toler Higgins
sold his seat for t52 800. the low price for
the year. and the Arm will retire. The part
aership agreement of Post & Co. terminated.
and the firm is lquidatng. The floor heard
chat another firm would be formed. with Mr..
Post as exchange member.
Two detachments Of the Honorable Ar
tillery Company OF London visited the ex-
change yesterday. There were about ten
men In each party. one going through the
building In the morning and the other in the
afternoon. They were guests Of members OF
the exchange.
The demand for stocks in the loan crowd
last light was the heaviest in months. The
crowd was still on the floor at $50 O'Clock.
Everything on the list seemed to be wanted
and in blocks Of 500 and 900 shares. Atch-
son, Pennsylvania and New York Central
were most sought. and there was good
demand for Manhattan. Rock Island and
Reading.
Tbe old method Of closing the trading at
q o'clock is again in fuse. The attempt to
close by ringing the gong once at fifteen
seconds before and once at failed to work.
owing to the noise on the floor, The old
way provides continuous ringing OF the
pong from twelve seconds Of until 3 o'clock.
Rock Islands Annual Election.