Omaha daily bee., 1900-09-27
MOVEMENTS OF STOCKS AND bonds.
Market is Feverisb nnd Irregular and
the Range wide. .,

NEW YORK, Sept 26.-The stock market
was more feverish and irregular today.
were on a large scale, but the action OF the
market showed that II was being tested by
professional operations. The rally which
set in the first of the week seemed to have
eliminated during the morning session and
the oyer enthusiastic bulls who attempted
to bid up prices against the outstanding
short account found themselves unable to
realize instead of being able to drive the
shorts TO cover They therefore allowed
prices TO drop back and the market fell
Into dullness at about last nights level.
The bear party apparently made UP their
minds that the elimination of the short in
terest had so far weakened the technical
position of the market as to warrant
fresh inroad upon prices. The raid was
conducted with determination and showed
the command of large resources. Northern
Pacific was singled out as the special OBJ
jcct of attack on account of President Mel
lens assertion In the annual report that
the prospects of business are not so bright
for the coming year, owing TO the spring
wheat shortage. Practically the same com
mentary was contained In the annual re-
port of President Hill of the Great North
ern published during the day. Union Pa
enc had failed to share in the early
strength and although there were other
stocks which covered as wide a range on
the down grade, Northern Pacific fell
farther below last nights level The SELL
ing OF Union Pacific was supported by pres
sure by holders. as there are supposed to
be long lines of that stock outstanding
Ihere were many stop-loss orders and the
wheie market fell away with violence. The
ieauing STOCKS were point or below
last nights level before the decline culmi-
| mated. The close showed gains for many
stocks. The nervous condition OF the bea rs
was strikingy shown I'm the violent recov-
cry IN the last hour of the market, when a
rumor got into circulation that the strike
OF the coal miners had been settled. This
rumor was attributed to Chicago, and al
though prompt measures were taken to Sc
| cure Information on the point, failed to
confirm 1t and the bears bought stocks 10
cover In disorderly haste. Some violent
recoVeries were the consequence, Reading
hrst preferred rallylng 3ii on wide jumps
ana New Jersey Central 3. The covering
| movement extended throughout the list
ana prices swiftly retraCed their course to
almost the top level I'm many cases The
market closed excited and strong with n
| large number of stocks showing net gains
| The news that the miners settlement A D.
pied only to ono mine where peculiar con
aitlons existed did not come unti after the
close OF the market. What effect the actual
| tacts may have remains to be seen The
| continued weakness Of sterling exchange
| peslns 10 arouse conjecture again as to
| pe looked for by gold imports
| n Inc oond market was dull and continued
irregular Total sales, par value, 81 ,i30 066,
United states new te advanced Il and ali
The Commercial Advertisers London
| financial caDlegram saws: The markets
here opened dull aud improved slightly in
| the afternoon on African news, hut there
was no increase of business Americans
were featureless. but they closed hiHhor,
| though below the best, the tendency being
new account attracted some buyers Tho
general contsngo. ~; st. Paul, a. TIE
| nlgher rate was owing TO the SITTER money
raiiiesi rates, me Bank OF England was again
and 1t also did the bulk of the discount
business at 4 per cent. Silver was "a on
| a small bear squeeze.
| the New York Stock exchange. "