The times. [volume] (Richmond, Va.) 1890-1903, 1900-10-02
MARKET ADV ,ANCED
WITH ANIMATION.
Prices Were, However, Not Main
tanned at the Best.
TONE AT CLOSE WAS HEAVY.
Opening Strength Was Due Largely
to Return TO the Street Of Profess
sionai Operators Who Have
Been Away on Vacation.
(By Associated Press.l

NEW YORK, Oct. 1.-The stock market
rejected reflected the operations oil pro
iessionai dealers on a larger scale TO-DAY
than for a long time past, result CT
arrival in New York from summer out
inGs of the majority of the more inlu-
entail element among the professionals.
The market advanced with a conSauert-
bic show OF animation and strength. ! hS
movement was Clearly apart. rom a.
forced demand from the short interest,",
snct as played a large part IN 'iie sPoi.
Modlc upward movements OF last "eeh-
IhiS WAS made clear by the comparative
heaviness all day OF stocks which nave
SHOWN The most pronounced weakness
lately, and III which a distressed snort IN
teteSt would naturally make iiSclt Hio'l
evident.
Notwithstanding the strength shown by
the bull contingent. they were unable 70
MAINTAIN prices To he close, and the tone
was, therefore, heavy at the end ana
prices were considerably of from the
best Because OF the brokers who We're
employed in the buying the rumor cir
culated on the exchange that II repre-
senled operations for The account OF q
weil-knoWn steel maGnate who has al
ready electrified Wall Street on one occa-
sion this year, and who is known TO
command an Influential following. The
pleasure OF the room trader IN this hypo-
thesis was not led by the quietness Of
steel or by the explanation adopted by
the jealous husband in the play, That
this absence OF all signals must be in
The movement centered in Union Pa
citic. which was absorbed IN a very con-
tideut manner and in very heavy blocks
all Gay. An extreme rise OF ~ resulted.
The southwestern railroads moved
somewhat in sympathy, but not so widely.
New York Central was strong me lead
ing indusuials, the local fractions and
some OF the steel stocks rose from to
~ points, and Pressed Steel Car rise .
The coal strike seemed TO be ignored,
,-.lr~s- n i..
bulls professed greatly increased conf
dence over the money outlook, notwith-
standing an advance in the call-loan rate
on the exchange 10 212 per cent
The continued weakness OF sterling eX-
change, which was quoted sc. TO the
pound under the Friday rate for demand
Sterling. gave further ground for the ex-
pectauon that gold may come IN from
Europe Discount rates Were slightly
easier in London. and there was 4 reiaNa-
ton III Berlin. The easing OF the money
rate at these centres, in spite OF the SuS-
:-estiYe decline of exchange rates at New
York leads to som claims that the dill
cultjes before the foreign money markets
have been exaggerated. and that gold
can be spared Tor New York without pre-
II canT7ot be said that this view meets
with much favor outside the speculative
element, which was engaged in putting
The bond market continued irregular,
and the dealings were on small scale.
Total sales. 10000. United States re-
funClnS tWHen lSSueAt do stliSSd -
per cent in the bid price. and new Us
declined Is.
Total sales Of stocks to-day We're 33334,
100 shares.
MONEY AND observation-disclosures on
call firIner at 2Gl25a per cent: prime Iner-
camille paper, 424M312 per cent. Sterling
exchange weak, with actual business in
bankers bills at S4.S5A for demand ard
at 81. S11aa4. SIS Tor sixty days; posted
rates, s.. S2I@ii. S::i2 and 81. 614I4.eI; Gem
mercial bills, S4-Sl@4.S1@s. Silver certiti-
Gates, 63isGJb5; bar silver. 63is: Mexican
dollars 1875 Government bonds steady;
State bonds inactive; railroad bends
steady.