The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-05

NEW YORK, Oct. 4.-The pronounced
upward movement which was III progress
in yesterdays stock market was resumed
upon the opening OF business this morn
ing, and at that time the dealings dis
played an amount OF strength and ami
nation to which Wall Street has long
been unaccustomed. Speculative interest
was also at the time unusually we'll di-
versihed. and sharp rises were noted in
the railway list and also in the local
traction group, the industrials, and the
sDecialties.
The advances made in the early dealings
appeared, however, to increase realizing
sales in the railway list and by midday
most OF the earlier advances scored had
been lost altogether. The other quarters
OF the market retained upward advances
more than the railway list. Conspicuous
features there were the stocks of the Ma
tional Steel American Tin Plate, and
others, all of which advanced very rap
idly, and, as stated, retained their gains
Federal Steel and Amr rican Steel and
Wire were also particularly strong and
active.
1t could not be learned that there had
been any pronounced developments in
the stocks which woulo account for their
course today, and, in fact, the advance
appeared TO be due mainly to a resumption
on a large scale of the manipulation which
was a similar feature of the dealings in
these stocks in their early history.
At the opening of business Sugar Re-
fning was a conspicuous exception to the
general tendency of the industrial quarter,
h.,sx h 10 81 h., Io,- 4tor
likewise advanced very sharply. Its early
depression was doubtless referable to yes
terday's extreme reductions in the selling
prices for refined sugar, which at the
time were construed as indicating a re-
sumption of active hostilities among the
refners. Later views of these proceed
ings were to the effect that they simply
reflected radical readjustment of prices
now that the dull trade period is over,
and particularly that the demand for sugar
for canning purposes is at an end.
Tennessee Coal and Iron furnished the
sensational movements of the day. Except
in this one instance, where the trading
was Influenced by the uncertainty as TO
the rate or dividend there was an utter
absence of news or gossip bearing on the
particular movements
The same observation might be applied
to the railway list, and, indeed. to the gen.
eIat inaTAet. mere WAS no uennite news
of an encouraging character in regard to
tie anthracite coal miners strike, but in
that respect also It would appear to be the
common opinion that its duration would be
protracted. Sterling exchange and money
market conditions remained on about yes
terday's level.
No change was made today In the official
discount gate of the Bank Of England,
which was construed as indicating that the
banks governors were not apprehensive of
immediate gold shipments to this side.
Chiefly in consequence of the retention OF
the banks rate OF last weeks figures, the
London stock market was strong, and al
the opening of business foreign houses
were buyers in this market, but they re-
versed their position on the sharp advance
In prices in the local market and on bal,
snce sold here TO the extent of about Is, 900
shares.