The age-herald., 1900-10-04
THE SHORTS WERE
 DRIVEN TO COVER Resumption of Aggressive Tac-
 tics Puzzled Wall Street.  BEAR PARTY LOST COURAGE Tennessee. Coal Rallied Four Points Acute Depression Manifested by
 Few Individual Stocks Was Without Effeot-Bonds
BEAR PARTY LOST COURAGE

New York, October 3-Wa1l street was considerably puzzled by the resumption to- day of aggressive tactics in advance after the bull campaign projected on Monday seemed yesterday to be abandoned. But while the motive of the buoyant rise was difficult to discern, the force and the pro- portions of it were sufficiently impressive to take the courage out of the bear party and to induce heavy covering all around. The small bears who had resumed opera tions for the decline yesterday were the first to fall victims to the maneuvers of the bulls, who however, gave indication of be- ing after the larger game and pursued their advantage with great confidence and abeundlng resources They drove some long standing shorts to cover and ultimate ly effected a buoyant rise in the whole market, which closed strong and active at the highest level of the day and net gains ranging from l to over points for a large number of active stocks. Opening declines in number of stocks seemed only to afford the better vantage ground for the advance which was thereby made the more impress sive. The acute depression manifested by few individual stocks was without effect in deterring the bulls from their manipula- hlOn III lue LldIh6l. lHuully u SOihhASSAoii houses fails to find any trace or buying orders from outside sources, and opinion is agreed that today'S movement was prae- tically in professional hands.
 TIA long pefsisting bull interest Is supposed to have been joined by some of the power- ful operators who had recently returned to the street for a campaign against the shorts. Stocks which have been recently the special target for bear atacks reflected the most urgent demand today Missouri Pa cfic, which is leader of this class, showed gathering strength during the day in con- nection with yesterdays annual meetings of the stockholders in St. Louis and Southwestern Railroad, the action of which Is supposed to foreshadow more intimate re- lations between the Iron Mountain and St. Louis road. From the early low point Mis- rouri Pacific was carried up SIS per cent. Burlington also reflected a demand of a large outstanding short interest, and was marked up extreme 2B. Baltimore and Ohio, Northern Pacific and Louisville and Nashville were also prominent in this class, but the movement gathered force and breadth and ultimately spread through the whole list. The most buoyant period of the market was due to the circulation of ru- mor that President Mitchell of the Mine Workers Union, had called the coal strike off, which completed the discomfture of the shorts.
 Even Tennessee Coal, which had sold down 3A on the fear that no dividend would be declared at tomorrow's meeting, rallied points, and Sugar, which had fallen 2A on account of the demoralized condi- ton and the deep cutting on prices in re- fined sugar market, rallied 1Ss.
 Bonds were not much affected by the ac- tivity in stocks, and price changes were mixed Total sales, par value, $9S0, ,0O0 United States bonds were unchanged in bid price.
 New York, October 3.-Money on call firmer at 2A@21a per cent.
 Prime mercantile paper, 5@51s per cent.
 Sterling exchange firm with actual busi- ness in bankers bils at S4 S4&4 for demand and AS11s@4.S1A for sixty days.
 Posted rates, s4S21A44S61s
 Commercial bills, S4.S01ap4.S1.
 Silver certificates, G4s4Q65.
 Bar silver, 63A.
 Mexican dollars, 502s.
 Government bonds steady.
 State bonds inactive
 Railroad bonds irregular.
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