The age-herald., 1900-10-02
THE STOCK MARKET SHOWED STRENGTH Presence of Influential Traders
 Was Felt. PRICES TOOK UPWARD TURN Professional Element Gave Tone to the Market Which Was Lacking Last Week-BuIls Interested
 in the Money Outlook

New York, October 1.-The stock market reflected the operations of professional dealers on larger scale today than for long time past result of the arrival in New York from summer outings of the more influential element among the pro- fessionals. The market advanced with a considerable show of animation and strength.
 The movement was clearly apart from any forced demand from the short interest, such as played large part in the spas modic upward movements of last week. This was made clear by the comparative heaviness all day of stocks which have shown the most pronounced weakness late ly and in which a distressed short interest would naturally make itself most evident. Notwithstanding the strength shown by the bull contingent, they were unable to main tain prices to the close and the tone was therefore heavy at the end and prices were considerably off from the best.
 Because of the brokers who were em- ployed in the buying, the runior circulated on the exchange that it represented opera tions for the account of a well known steel magnate, who has already electrified Wall street on one occasion this year and who is known to command an influential fol- lowing. The pleasure of the room traders on this hypothesis was not altered by the quietness of American Steel and Wire, which forced the traders to the explana ton adopted by the jealous husband in the play that this absence of all signals must in itself be signal.
 The movement centered in Union Pacific, which was absorbed in a very confident manner and in very heavy blocks all day. In ayfp 11c of ta1
 raid in the late dealings on Tennessee Coal which carried that stock IA under Saturday, settled the market. The coal strike seemed to be ignored, and the coal CTS as whole moved contrary to the mar ket
 The professional bulls professed general interest over the money outlook, notwith- standing an advance in the call loan rate on the exchange to 2la per cent The con- tlnued marked weakness of sterling ex- change which was quoted % to the pound under Fridays rate demand sterling, gave further ground for the expectation that gold may come in from Europe.
 The easing of money rates al European centers in spite of the aggressive decline of exchange rates at New York leads to some claims that the difficulties before the foreign markets have been exaggerated and that gold can be spared for New York with out precipitadng a crisis. It cannot be said that this view meets with much favor on the side of the speculative clement which was engaged in putting up prices today.
 The bond market continued irregular and the dealings on a small scale. Total sales, par value, $320,0O0. United States refundng 2s, when issued, advanced A per cent in the bid price, and new As declined B
 New York, October 1.-Money on call hrmer at 2Q2k per cent; prime mercantile paper 4q5R per cent; sterling exchange weak, with actual business in bankers bills at A.S5h4S5A for demand, and $4.S11hGD 4.S5B for sixty days; posted rates $i.S21k@ ASIA and s4.s61zQ4.S7; commercial bills $4S1A44.S11z.
 Silver certificates 63h@65c; bar silver 63Nc; Mexican dollars 49Ac
 Government bonds steady; state bonds inactive railroad bonds irregular.