The times. [volume] (Washington [D.C.]) 1897-1901, 1900-09-12

NEW YORK, Sept. u.-After an irrcg-
ular opening the stock market developed
fairly general strength. together with a
moderate increase in activity. These
characteristics were not, however, re-
tanned to any great extent after the FIRST
hour of business. Thereafter the trading
relapsed into virtual stagnation and an
uncertain tone developed.
The trading showed a number of II
couraging appearances, but their arti-
fetal character was disclosed iE the sub
seQuent trading. Supericially, the mar
Iet appeared to broaden, Interest being
seemingly well diversified. aud some
rather smart advances were scored.
Foreign houses bought 4 fair amount OF
stocks, which circumstance contributed
to the cheerful appearance of things.
The subsequent reaction in respect both
of tone and activity was simply further
evidence of the thoroughly professional
character of the marke. and of the al
sence nf any substantial outside interest
Tn early tone of strens.n coLld he le-
ferred to a number of circumstances.
chief of which were the returns from the
election in Maine and the cont E-ied
postponement of the labor strike in the
anthracite coal region. The Government
monthly crop report, published last Light,
was also regarded as being fairly up to
the general expectations.
In London the strength was attribute ed
TO the apparently decisive progress of
the British forces in South Africa, to-
gether with the continued ease in money
there With local speculative sentiment
optimistic as it was there was some re-
iection in this market, from LONDON s
speculative disposition.
The most decided movements in the
forenoon market were in New York Cen
trail and the Reading issues, Louisville and
Nashville. and Southern Railway prefer
red, and in General Electric. The anthra-
cite coal shares strengthening naturally
reflected the postponement of labor strike
while the advances in Louisville and
Nashville and Southern Railway we're re-
ferred to the benefits ii is expected that
the country traversed by those lines will
receive from the very high prices prevail
ing for cotton.
Brooklyn Rapid Transit was bid up
smartly at the opening of business, while
Peoples Gas was under fairly constant
pressure throughout the day. The move
ments in Sugar Refining were unusually
limited, and there was nothing novel in
the way Of news or gossip bearing upon
any of these market leaders,
As was the case yesterday. there was
very little stock market reflection of the
great disaster al Galveston, and the stocks
most particularly concerned, we're neg
lected, and showed slight changes in
prices. The granger stocks also moved
within very narrow limits. and along with
the Pacific stocks and the other securities
directly concerned, gave little reflection
of the crop estimates derived from the
Governments figures. The traffic returns
submitted today showed some remarkably
wide variations. st. Paul Company report
ing very heavy decrease. while the North-
ern Pacific Company, on the other hand,
showed remarkable gain. the increase
being quite in line with the recent returns
OF the company
For the first time since the shipment,
OF currency TO the West and South set IN
there were some resultant effects noted
IN the money market. the rates for call
loans advancing to per cent. the highest
hgures noted in some weeks. Notwith-
standing. however, the increased frmness
IN the money market. sterling exchange
recovered sharply from yesterdays re-
action.