The times. [volume] (Richmond, Va.) 1890-1903, 1900-09-27
STOCK MARKET
WAS FEYERlSII
aioysnent Of Prices Was Wide and
Dealings Large.
MANY NET GAINS WERE MADE.
The Market Closed Excited and
stron. on Violent Recovery
from Bear Raid Late
in the Day.
Movement Of Prices Was Wide and
MANY NET GAINS WERE MADE.
The Market Closed Excited and
(Rr Assnciaina press )


NEW YORK, Sept. 2G.-The stock mar
Ret was more feyerish and Irregular To-
Gay than Tor months. The moFeInent OF
prices was very wide and the dealings
were on u large scale. but the action OF
the market Indicated that II was being
tested by professional operators. Inc
rally which set in the first OF the week
seemed To have eliminated during the
morning session, and the oNefeiltluSi-
asIc bulls who attempted 10 plQ up
prices against the outstanding snort &C
count found themselves burdcned With
increasing offerings 10 realize. instead OF
driving the shorts TO cover. iheE, lneIs-
lore, allowed. prices TO drop PACK. ailo ti!e
market fell. into duiincSs at ABOUT ld5t
nights level. The bear party apparently
made up their minds that the elimination
OF the short interests had 50 lar peaf--
ened the technical appearance OF ne
market as to warrant fresh prices Inc
raid was conducted with determination,
and showed the command of large re-
sources. Northern Pacific was singled
out as the special object of ATTACK on
account Of President MellenS assertion
in the annual report that Inc prospects
business are not so bright for The COM
ing year. owing to spring weat shortage.
Practically the same comment was con-
tanned in the report OF President ttiIi' o.
the Great Northern, published during me
Clay Mort flern Pacific failed 10 share in
the early strength. and although mere
We're other stocks which covered a wide
range on the downward grade, Northern
Pacific fell lowest from last nights level
The raid on Northern Pacific was supple
nented by pressure against Missour! Pa
cific as there are supposed to be large
long accounts IN that stock. They were
successful in dislodging stop-losS orders,
and the whole market Tell away with
some violence.
point or more below last nights level be
fore the decline eliminated. Ihe early
advance had shown gains of point
for many stocks. The nervous conditions
of the bears was striknEly shown in the
violent recovery of the last half hour of
the market. when a ru-nor got into Cir
culation that the strike of coal miners
had been settled. This rulnor was at
tributed to Chicago, and although the
itative information on that point falled
to confirm it, the bears bought stocks
10 cover IN disorderiy haste.
Some violent recoverieS We're the con-
80 on wide jumps and Jersey Central .
The covering movement extended
throughout the list and prices swiftly re-
traced their course to almost the top
The market closed excited and strong,
with a large number of stocks showing
net gains. The news that the miners
settlement applied only to one mine,
where peculiar conditions exist, did not
become known until after the close of
the market What effect the actual facts
may have had remains TO be seen. The
day was barren of any actual news de-
velopments which might change the
speculative situation. The continued
weakness of sterling exchange begins to
arouse conjecture again as to whether
relief to the money market is to be
looked for by gold imports.
The bond market was dull and con-
tinued irregular. Total sales, par value,
81. 0So.e00. United States new 3's adj
vanced 4 and al other issues Il per cent.
in the bid price.
Total sales of stocks to-day were 321,-
700 shares.