The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-10-17
FINANCIAL AND COMMERCIAL.
MONDAY. Oct. 10.

MONDAY. Oct: No.
Operators whs are responsible for the crea-
tion Of large short interest In the stock mar
ket we're apparently constrained to modify
their views somewhat to-day because OF the
absence Of any fresh developments favorable
TO their ventures Now that the money market
has begun to return TO a normal state and the
Federal Government has given evidence OF lts
adoption OF policy that will not permit the
operations Of the Treasury to unduly contract
the currency OF the country the bears are ap-
parently driven to the extremity OF relying
upon the publication and circulation OF their
views and arguments to induce iresh ilulda-
tion that they may extrcatc themselves from
the pit that they have aug.
That there has been extensive liquidation OF
stocks held speculativey cannot be denied. but
II is equally patent that tho liquidation has
been pretty thorough ana that many OF the
stocks thrown over curing tho iasU Two months
have been absorbed by those VINO arc aoie an q
willing to hold then LOT sups'anthi profits
They nave not oeeh puronnbeu WIN 'he VIC"
OF taking advantage OF the nuc'uauons OF d
day or OF week. In CONSEQUENCE inc So
called noating supply OF stocks mas peeh ma
terially reduced.
Another interesting circumstance is tne re-
turn to tho street OF several BOARD room
raders OF the nrst MAGNITUDE uaoeie VINO
otten turn over -o.ooo 10 oo'ooo shar vi SIOUX
DAY. from protrae'eu summer Nueo',onS'
THESE men maze fortunes on tne !ons s'ue Oh .he
market during the nrs' nan Vi 'he year. nnu Do
lar as they nave oeciareu themselves ~" .io,
are disposed 10 range themselves upon 'na'
side again. Iheir operations IN 'ne aski
mean great ueai 10 'he inaiho' uo'h !"
spsct 70 ACTIVITY ana tne oirec'ioh 'ns' 'n'par'
10 tne course Oh prices ,,r-
Ihey are rsauy 10 oe' "pon ."o 'toaI'S
increasing prosperity Oh 'he country as against
the pc ssimistic ''e"s vi opeiaeore VINO nave
pieceo 'hemSeNeo ia io'''.on ""eio my
nave GOT 10 ouy s'ocA'' e'ner W SECURE p'oN''
or 10 stop iosses'
Regarding inc pro,huikat'on Vi oear'S' anu
disturbing Opinions pS such oporh'ors at 'his
sine the question may pertinehty 10 asked
why was not tnis seehlngly phii"n-
'nropr euor' III pehai' Vi 'ne pun'i' "auo
when 'ne canpaiHn aEainS. 'a'ues was
peRun some weeks ago instead OF at presen'
When the lnuuehceS 'hat contributed 10 the
success OF tha' ca"palsn nave p"sseu ih'o ms
'ory ana are pa'en. 20 every oho' no ,nui-
Restion OF the speculative community mas peen
10 d largo eA'en. feHe'eu W INC h"'ui al. i'enCe
familiar. Manifestation loHowihR suriet. IL
loHoWa' therefore, tna' inc pa'ieno ID III
neathier oonuition tnoush perhaps 'enhpora'-
ny hteie weak. 'on!c 10 q. manu- however
IN the decision OF inc Administrator 10 prepay
Wlthin the current nScal year.
having TAKEN TINS step. IL IS pam 'hat II
hecehsary 10 pfe'eht the coicc'on Vi revenue
from interfering with inc cohuuet Oh ieglt-
mate business inc ADMINISTRATOR WIN 20
larther ana diNer' tue Pay hen' oi inCernai
revenue taxes from tne treasury INTO 'ho
banks. IL may De stated without iear OF con-
trauictloh that tnis pohcy has ALREADY
peen oecloeu upon Az inc Same ,me 'he
monetary SITUATION aoroau appears 10 nave
oeen improved oy tne BEGINNING o! hostiiitieH
In the TransVaal. moreover Lonuon auSlces
are that disposition 10 puy american stocKs
Is developing there ana IL probaoIy would De.
come pronounced were 'he status OF hnancial
anairs mere thoroughly UNDERSTOOD there'
Inc nrst deciueu movement III tue seock mar
ket TO-DAY was against BROOKLYN hapio transit
ana Soutnsrn racine out IL was only temporar-
lly successiui. Inc MANIFEST demand LOT the
FIRST named to cover shorts coon attracted buy
..,I I It., 49, -, =. :,
attacked pscauhe dellVery was oegun to-uay OF
the new securities issued In connection with
the aoo uirenent OF the Central Pacific road by
This c,ussd somo shifting =, lo,ns Int Mt
tho same time the managers OF the Central
Pacific refunding operation paid back to their
underwriting associates S7.OOOoo0. which had
$1,000 a.m.,onad 81 .an-t, ~ 81, =.
=, g. p.eu;.a r.iI go ott.nt;on 80 80
Susat ',s..,r pa at.t"rhoS tSa W WA.
s'ooA ouu ',iusH''' u'''u' o'u '"' s"oi
'nVereet IN H.
IL proved 10 pe second only TO brooklyn