Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-10-20
New York Stock Market Active Un.
der Sharp Advances.
DUE TO BUSINESS IMPROVEMENT
Grsngers Take the Lead, Followed
by the Entire List.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK, October 20.-The trading in
today's stock market resembled in many
respects that Of the active midsummer De-
Rod. Advances varying from / to 3 per
cent were recorded in all departments. The
undertone was Enthusiastically strong, and
confidence in intrinsic values was mate
rally increased.
mere were no new developments of i'm
portance, a more general recognition of
business Improvement and business pros
poets alone stimulating the advance The
buying throughout the day was superior
In character. Notwithstanding a liberal
covering of short contracts. Interests here
tofore conspicuous in the advancing move
ments were openly active in the long ac-
count today.
The professional decline had reached the
limits Of enforced liquidation and became
hazardous In view of the constant increases
in railroad earnings. Snort sales were
abandoned as being contrary to policy and
after few days of dizziness an aggressive
buying movement was decided upon as be-
ing in harmony with the facts.
Room traders, after their usual custom.
adopted the new arguments, paid for their
experience with the old and became as op-
tmiStic as the most conservative investor.
The market was consequently one sided
during greater part of the day. but this
feature was wholly beneficial to prices.
The most significant development of the
movement was the Increased demand from
commission houses. Prices advanced easily
under the demand, thereby demonstrating
a minimum resistance in that direction.
The granger shares were early selected
as the logical basis for the new movement.
both by reason of the short interest in
them and their actual merit.
The Vanderbilt issues. New York Cen
trai In particular, attracted a good demand
and advanced easily. The Gould shares,
by reason of a specially large short inter-
est perhaps, made the most conspicuous
gains of the day. the advance in Manhat-
tan being especially pronounced.
The southern roads We're in good deman
by the short interest, owing to the liberal
selling inspired by the yellow fever scare.
Nashville advanced under covering, not
withstanding its recent decreases in earn
ings and its proximity to the fever dis
trictS.
The low-priced issues, which attracted so
much attention in August. We're again TAX
en- up and made to Sympathize with the
general market.
American Sugar was active at a sharp
advance from yesterday, the buying being
credited to inside interests and a few pro-
fessional traders.
The treasury's decision on Belgium Sill
CARS Is added to the list of arguments max
ing 1t reasonably certain that counter
vailiIfg duty will be made applicable to the
holland product Should this latter de-
cisiop be handed down in a market as
stfucturally strong as the present one
sharp advance in the shares of the Amer
lean company is certain.
Chicago Gas has advanced under buying
for both ACC cunts, but that for the short
account was most pronounced.
Pullman recovered an additional 3 per
cent of its loss yesterday. This property
is not likely to suffer materially by the
death of its former president, as all of its
interests are in competent hands.
Some profit-taking was in progress dur
ing the final hour, but the main features of
the market We're decidedly promising at the
rev level.