The age-herald., 1900-09-28
BULLS RUN THE
 BEARS TO COVER Stock Market Advanced on Over
 sold Short Interest. REVERSAL OF SENTIMENT us. - Due to Conviction That Negotiations Are Being Pushed Towards Set clement of Anthracite Strike.
 Money and Bonds
REVERSAL OF SENTIMENT

New York, September H.-Today's note- worthy advances in prices of stocks were primarily due to the existence of a large outstanding short interest. Manipulation amongst the shorts was also very obvious and in the hands of strong and resourceful interests The bidding up of stocks carried prices swiftly away from the bears in the very crisis of their distress, and there was a notable recalling of stocks which have been loaned to the shorts on advantageous terms for long time past. This could only be the result of powerful manipulation to force shorts to buy stocks to cover. But while these facts were obviously true the upward reaction could hardly have been more precipitated or extended to the length 1t has without a strong revulsion of spec ulative sentiment from the depression which has induced the liquidation for some time past.
 Almost the entire credit for this revul- sion must be given to the growing convic- tion, strengthened by significant admissions from authoritative sources, that active ne gotiations are going forward between the anthracite coal operators and the miners and that basis of settlement has been
 
 The violence of the recovery in prices on this development is astonishing, consider ing the small impression that has been made on the prices of carrying railroads since the strike has been in force and which has given the impression that there was little short selling being done on account of the strike.
 The downward course of exchange is so violent as to give rise to some expectation that gold will move this way. That such a movement could be forced in case of necessity is very evident, and that it will be unless foreign money rates advance is very probable. It is believed that German bankers have tried to secure time loan in New York during the last few days for several millions of dollars. The effort Is said to have failed because of the unwtlling- ness of German bankers to pay the interest asked. Today's movement of exchange is a significant rejoinder. The Bank of Eng land statement discloses that that institu- ton, which it has been loanng liberally to the market with one hand has continued to borrow from it with the other, thus in- d1cating the prospect of further advancing discount rate The strength of the stock market grow ing into buoyancy, was continuous after an opening dip in prices due to the chagrin Of the bears, who were driven to cover last night on rumor of the coal strike settle- ment which was not confirmed this nDrnS Ing. The extreme advance in coalers rah up to 6% in New Jersey Central and the leading specialties, and local straction stocks recovered from to 3A points In the active railroad list net gains of I to 2 points are the rule, with the closing active and strong at about the top.
 Bonds opened in sympathy with stocks. the speculative issues leading. Total sales, par value, $S30,O0O. United States new As advanced \, in the bid price.
 New York September N.-Money on call steady at 11a02 per cent; last loan 1% per cent; prime mercantile paper 41sG5la per cent. Sterling exchange weak, with ac- tual business in bankers bills at s4S55s@ 4.8534 for demand, and at $4. S21s@D4. SPA for sixty days; posted rates s4.S344.S and $4.S7@$4 STE: commercial bills S4.Sl1a@4 S2.
 Silver certificates 63A664Ac; bar silver 63sc; Mexican dollars 492c.
 Government bonds strong; state bonds inactive; railroad bonds strong.
 (By Private Wire to Murphy 6 Col