Show WALL STREET IS BADLY SCARED I lood of Offerings Poured Upon a Weak Market PRICES RUN OFF RAPIDLY SPEECH OF O A BANKER THE THEIS j ING CAUSE IS Now Oct 11 One of the seem seemingly reversals of sentiment 1 puzzle the observer of Wall o r burred hi In tie the stock market today tin 1111 appearance of strength and confident buying the suddenly turned and a flout flood of offerings came upon it Irons from ill directions carrying prices rape rap idly downward The abruptness of transition from extreme confidence IP 1 something like fright was more eat ent than real owing to the fact of the artificial character which has been lal en on by speculation of late due to large predominance of professional opera lions The necessities in the money market have restricted the active speculation lation and with a period of dullness 19 be faced large interests in stocks to hold prices and await return of ease in money for a of the campaign to lift prices to a or level Speculative markets however will remain stationary and if an advancing tendency halts there Is almost inevitably a disposition 10 to react Speculators who are holding stocks on oss margin get patient at the theand nonappearance of j and are inclined to sell out O vHf if pressure is placed upon them the of restriction of credits and Of tt decline I in prices arices which threaten losses Cred Credits its In use for stock market commitments have not been free from pressure antl occasional declines of cit late have hae threat threatened threatened I ened tosses losses as well The rite result has b been ru ruthe I the growth of doubtful sentiment in the I speculation whirls which made the market ul Mable n to any Influent The Plse influence which was accorded larg large e Importance during the da days selling was th address before the wink bank winkers ers era convention by an of of a NewYork bank i affiliated with one of the groups of capi capitalists Room traders professed great i alarm when it was reported that this f I official asserted in this connection the S prospect that a tree never quite grows to and that ne he heI I expressed the opinion that a stock mar lusty market I ket speculation starting from the pres eat ent high of prices in the face of the extraordinary for capital capitalI I nn ansI l money might easily result m in tern em I disaster With tile the decline once I thee Ince force the market proven proved increasingly I vulnerable and gave way with l snore more appearance Of weakness than t ta a any time during the recent money fink ry The Tue money market itself stiffened up 1 In the afternoon after the easier torn tone I of the morning and ma may have been In Influenced by the preparations beginning for payments of the Japanese loan itan sub subscriptions I London was a buyer of staples I here on a large scale in and acl added to the early arly strength in no small 1 degree legree The Great Northern ting had a sympathetic effect on a sum num number I her ber of high priced railroad stock I Pacific had the benefit of it tIe holdings of Great Northern although the latter latterI I I stock was under pressure throughout s said Id to be on liquidation of Union Umon Pa 1 holdings d reports of new interests in Wisconsin Central were made 1 the basis of of an Erie I sion in that property But these and andI j other factors of strength were totally I unavailing to hold th t market tau the I face faha of the The Thelast lest last prices were about the lowest and th the was weak 1 Bonds were easy Total sales par value States bonds were alt all unchanged on call |