Evening star., 1900-09-26
Stocks Opened Moderately Active on
Short Coverings.
REACTION CAME IN TEE AFTERNOON
Northern Pacific Common Was
the Point of Attack.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. September 26-London's
prices for American railway securities in
the Initial dealings at that center were
about on a parity with the closing prices
| at New York. Trading In that department
was only moderate, and there was no spe-
cial feature In the speculation there Con-
soils were lie lower for both accounts
fhe local stock market opened moderate
iy active and with very few exception
prices showed advances Of from u to "
over Tuesdays closing figures. While out
side buying was light. there was a more
urgent demand from the shorts on account
OF the small supply of stocks In the loan
crowd yesterday afternoon. consequently
the most conspicuous feature Of the trad
ing this morning was the covering move
ment Of the bears.
This buying was especially noticeable In
Brooklyn Rapid Transit and Sugar Re-
inning stocks. and was helped along by an
active trader on the bull side bidding for
stocks around the room. Purchases of
sugar by recent heavy sellers exerted some
favorable influence on the general list The
initial gains extended to point or there
abouts in Reading first preferred, Sugar,
American Tobacco, National Steel and Com
solldated Gas. In one or two Instances.
notably Tennessee Coal and Iron and Bur-
Hngton. substantial rallies occurred from
early low points.
The buying and subsequent advances I'm
Reaoing nrst preferred and Pennsylvania
railroad stocks was on the improving strike
OUTLOOK. Sugar was helped some on semi
9aatn etia, reports as 70 the company's salts
factory position with regard to its supply
Oh raw sugar. The advance in this special
ty Drought out some liquidation but the
se1eA s.paa lhas sold was upon the whole well
Federal Steel offerings by the traders
were taken by brokers who generally act
London aIbitrage operators, as was the
case yesterday, traded both ways. They
were moderate buyers Of the grangers.
Union Pacific common and Southern rain.
way preferred. but sold little Baltimore
amu aon onio common and Northern Pacific
Common. The latter stock seemed to be
unfayorably affected by crop reports along
tnat me- 1t being stated that recent heavy
rams and severe frosts have damaged hav
overripe fax. ~ W. 'iio
The heavy selling OF Northern Pacific
common IN the afternoon trading and the
aechne OK per cent that followed was said
to be for room traders but to some naorIa
Il looked more like foreign liauida ton Rer'
I'M operators have been for some tima LARGO
holders OF this security; just now money
requirements at that center are abnormal
iaise on aqoount OF army and naval re-
qutrements; 1t Is stated that the German
government Is drawing down its deposits
at the Reichsbank-although obtaining
money from this side: that Joint stock banks
nave large sums locked up In industrial
issues. for which there is no demand inst
now and consequently a falling market in
these shares. and likewise doubts regarding
properties which show excellent returns for
the year. Aoi
Taking all these things into consideration
II Is not unnatural to suppose that there is
some liquidation going on In Northern
faclncs FOR Berlin account. The stock
however. looks cheap enough at the decline
ana DOUBTLESS win attract some good buy.
ing on this side The weakness in North
ern faoif1c had an unsettlng effect on the
whole list, and with renewed bear selling
the market at 1:3O pm. had lost more In
TINS reaction than 1t had gained In the early
advances. o e"--'
In the late trading there was some un:
covering OF stop orders for the long ao-
count In Missouri Pacific, brought about
ny the aggressive selling Of the bear oon-
ungent The stock broke badly to 4SA. a
decline OF over 2 per cent from early iig-
ures The general list reacted sharply on
the weakness developed in Missouri Pacific
ana Northern Pacific. and on some strong
talk from dempcr9ic headquarters of Bry-
an carrying Illinois,
Government bonds were steady and nm
changed. while railroad bonds were duJl-
Money loaned at ~ and per oent.