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

the weakness of Thursday and the selling
orders sent in to commission houses Tor
execution. Many Of these orders came
from the South and West Tho depressing
weather had much to do with the general
feeling Of pessimism. Atchison. Southern
Pacific, Pennsylvania and Copper were on
Y from Thursdays close. and Union Pacific
was of 4.
The two days rain. with a prospect Of
more, had it's effect on the floor attendance
and the volume OF trading. 1t was also the
cause OF the deserted appearance OF the
customer rooms Of the various commits
sion houses. Those who braved the storm
seemed in no mood to trade, unless II was on
the bear side.
On the floor the traders, to a man. were
bears. They sold the list vigorously at tho
opening and continued these tactics through
the morning. particularly on the rallies. The
industrials were the points Of attack. and
they yielded rapidly. Steel common. Ten
nessee Coal and Iron and both Car Foundry
issues, which sold ex-diHdend. suffered.
Steel common made q new low record at
TX in the early trading. and at II O'Clock
had rallied to only 14h.
Copper was again put under pressure by the
bears. 1t opened as high as 3sh, but sold
down at once to SAX. Before noon 1t had raj
lied to ssh again. but on a few sales 1t went
OF rapidly to Ak, and on two offerings OF 500
shares each it went to 81. and then to sAi<.
the low record of the movement. There
was no news to account for the decline. which
seems due largely to the vigorous selling Of
the traders and the bears.
! Currie Bros, who have been conspicuously
| heavy sellers around the room for some days.
| were heavy buyers in the first hour yester-
| day.
| The strength Of the railroad list stood out
| clearly against the weakness OF the Indus
\ trials in the morning trading. On the oany
| selling, railroads declined With tho innus-
4 trials, but they worked away from the latters
and by noon had in many cases scored ad-
vances over the opening prices. Atchison.
which opened at o2k. sold down to s2x, but
at noon had recovered to 63k. an advance Of
| y point Erie gained X to NIX. Reading u
| to AN and Union Pacific and ST. Paul had also
| recovered their early losses
Harris, Gates 4 Co. were heavy buyers Of
| Steel preferred yesterday. The buying was
thought to represent covering OF the stock
| they put out recently. Specialists said the
house was also covering elsewhere
The heaviest selling OF Copper was by Loeb.
| who put out over 49, 900 shares before 1890
I ~ was S0lQ ON tne uOOI tHhl WILD hSSNSA wac
| pool stock that had been accumulated be-
tween Is and So and was under liquidation
| at a price that represented a loss Of from
! ~ to Is points. This same pool Is said to have
run a pool in Smelters which pyramided
| with the big end at the top. The selling
Yesterday OF the POOLS Copper was said to
be for the purpose OF protecting its holdings
of Shelters. There was a rood deal Of pres
sure put on Smelters both in the morning
nA
sales OF about 900 shares for the day 1t
sold down to SON after selling as high a.
Az, and closed at 4oT, a gain Of Y for the
day.
Copper was by far the most active stock
on the list yesterday. The trading In It
amounted to more than 10000 shares Be-
sides the selling by Loeb. Leask sold 5000
shares, and Boston and Savin were also sellers
The buying by Pearl Il Co. and George b.
Hopkins, who rallied the stock from SAN In
the morning was considered good.
When member Of one Of the smaller houses
cached his office yesterday morning. after
many delays his partner informed him that
he had received an order for $4,000 shares.
"Yes?" said the other, whose rain soaked
condition made him sarcastic.
ITS a fact. though. said the partner. un-
perturbed. Its on Bay State Gas. It's
quoted y bid. n asked"
The bond men reported good demand for
bonds through the day.
Money was quoted at IL per cent in the
afternoon. There was plenty to be had ~
2 per cent
At ~ o'clock the specialists said It looked
as II Pennsylvania was under use to steady
the market Prices began to look MP after
1 o'clock on covering by the traders. and in
the railroads. particularly they hardened
noticeably Just before the close the shorts
were bidding vigorously for Atchison and
Union Pacific
The action Of the Chicago and Alton stocks
Yesterday attracted much attention in vSew
OF the strong bull tip out on them last week.
when il was said the common would 80 TO
40 in four months. In the morning. when the
declines elsewhere were the sharpest Alton
common moved up from its opening price OF
22,, to 2sh 1t closed at 23H. gain Of ~
points on sales OF >, 500 shares. Tho preferred
closed at 8l,t an advance OF l point. he
buying Yesterday was said to he for interests
friendly to the Missouri Pacific. and IL was
suggested that the Alton might eventually
become Chicago outlet for that road
Kingsley 4 Mabon were early buyers OF
Rock Island. They seemed TO have sup
porting orders IN IT,
One broker summed up yesterdays market
this way: The liquidation was trifiing
compared with the efforts to induce IT,"
Just before the close yesterday there was
a sale OF Lake Shore AT 27S The lass pre-
vious sale was on Jan. 5. when 100 shares
sold at 334h
London traded in about 10000 shares.
20 900 OF these sales The sales included oon
siderable Steel preferred and some Erie,
PENNSYLVANIA and Union Pacific. The buy
ing for that account came late in the day.
DIVIDEND DECLARATIONS.
Company ana term. Stock Amt P0t9hi',
Northern Securities - "ov