Show MARKET OPENED UP WELL WELLS But S B f E Call tall Money Went to 30 Per PerCent Perk k Cent ent and Prices Turn Tum Tumbled bled at Once CLOSE SHOWED NET LOSSES CONDITION FEVERISH AND UN UNSETTLED UNSETTLED UNSETTLED SETTLED r New ew York Sept 4 Tho excited spec speculation l in stocks was continued although Somewhat diminished scale of ot ac activity activity from that of ot last week The tone of or the markot market became feverish in the course of the day clay This was principally duo due du to the contending effects of ot the speculative furore on the one hand and the tightening money market on the theother theother theother other Prices broke all around when call money reached 30 per cent Incidentally the furious trading In and out of tho the thoi i market by professional operators and ancl by r speculators of or the millionaire l j S t clase cIas a churning process was wac kept up on ona 1 a gigantic scale consisting of ot tive orders placed in the markets for both beth accounts and from the same sources solely for effect on prices There was much confusion contusion and not little conflict in inthe Inthe inthe the arguments heard In connection with the eager speculation and these arguments afforded some striking contrasts with the views on the same subjects professed in Wall street In times past post This is its highly characteristic of a period of ot speculative excess when all events are turned to one way of ot interpretation for forthe forthe forthe the furtherance of speculative prospects An Instance was the tho reception given to tho the official announcement that tho the Penn Pennsylvania Pennsylvania Pennsylvania sylvania railroad had Itself of ownership of ot a largo large proportion of Its holdings in Baltimore Ohio and Nor folk Western The purchase of these holdings was made ma e a ground for tor strong buying of the stock because the large supply removed from rom the market by tho the purchase promised security ty from any an pressure on the market of free Offerings B So tar far ar from showing any fears ff ars of the tho effect on prices of an addi floating markot market supply Baltimore Ohio was made the favorite of ot the speculation today toda Tha Tb alleged purpose of ot the Southern n to control St Paul continued to keep k ep the tho latter tatter stock in the forefront of tho the speculation during the day da The Ga speculation showed every symptom of or un unrestrained restrained rf progress until it j was forcibly arrested by the tho practical exhaustion of available funds In the call loan market Withdrawals to meet the necessities of ot other departments of the money market forced the call loan rate up to 30 per I rent cent In the tho afternoon and induced large speculative liquidation of a forced char character character acter actor Union Pacific and American suffered most In this selling but the whole market was forced down downward downWard downward ward sharply converting the considerable earlier gains into general net losses for the day Gold was secured during the tho day for import jm rt to New York to the extent of ot 1 partly In London and partly in Paris But this was as scarcely more than sufficient to offset the days da s losses loss os to the government and by telegraphic trans for fer to San Francisco while shipments of currency to the interior by express e press were on a heavy scale with certainty of or their C sometime to como come The Thc stoc market closed clos feverish h and unsettled la in It consequences Bonds wore irregular Total sales par value vao IU U States Slates bonds were wore all unchanged on l |