The age-herald., 1900-10-16
GREAT STRENGTH
 IN STOCK MARKET Prices Advance on Bouyant Spec
 uIative Movement, THE CONDITIONS FAVORABLE Money Outlook Brighter and With Other Bullish Factors Gives an
 Impetus to Market-Close
 Firm But Irregular
TIE CONDITIONS FAVORABLE

New York October 15.-TheIs was an outburst of large and buoyanl speculation in the stock market today, which lifted prices during the course of the day from 1 to over 3 points The buying came from many divergent elements, but the patent fact was that an enormous number of stocks were bought in an eager and coni- dent manner on rapid rising of prices, forced by largely extended short interest, has something to do with the rise. Bull manipulation by a number of powerful ciques, some of them newly formed this morning, aided the advance. The commits sion houses report that they had large or ders to buy from outside sources. What proportion these various elements had in the aggregate of the days trading it is not possible even to estimate; but no merely technical conditions could have resulted in so considerable a rise in prices and in such a widely distributed strength.
 The true basis of the advance evidently was the change in the money outlook, and the promise held out to the speculative spirit in the general conditions. There has been steady growth of confidence in Wall street for some time past in the general
  held that as soon as elecion uncertainties were disposed Of there would be q renewal of business activity up to the higher level of the recent prosperous period. On the other hand, the growing conf usion of the money supply lett room for doubt whether the intervening period could be sately brfdged without such a money stringeney as would be disastrous to speculative com mitments.
 The confusion crystallzed today, that the danger of the money stringency Was ex- aggerated, and the expected post-electlon demand tor securities was discounted on very large scale. Saturdays bank state ment dcmonst1at that d very large con- traction ot loans had been eIfected With serious harm to the stock market, thus conserving the supply reserve. The gold engaged in Europe last week is expected to arrive in time to show in next Satul days bank statement. The Bank of France nounced through the Associated Press a determination to furnish export gold to avert a money stringency, and the ex- pected read4rf4sgs of the Secretary of the Treasury to act toward the same end had notable effect i'll strengthening conti- dence.
 The large additional engagements of gold announced this morning promised further help to the local market although tine re- ceipt is deferred for several weeks This is due to the fact that the gold comes from South Africa. The fact much dwelt on in speculative circles marking the resumption of gold shipments from the Transvaal mines, but the exact sourse of the supply and the channels through which it was to come were kept shrouded in myS- tery.
 The expected settlement of the coal strike was also a factor in the unvarying strength in the market and the special strength in the group of cGaierS. Realizing in stocks which had their extreme advance early in the day made the closing slightly irregu- lar, but prices generally were well main tained at the top.
 There was a decided growth of activity in bonds and some notable advance in prices, but there were weak spots which made the market irregular. Total sales, par value, S1,96O,G00. United States bonds unchanged on last ca...
 New York, October 15. = Money on call steady at 3Ql5R per cent; last loan g. Prime mercantile paper 5@6 per cent. Sterling ex- change firm. with actual business in bank CTS bills at $4.S41a for demand and $4-SO11 for thirty days. Posted rates $4S1614. .S11z and $4.S514 S5H Commercial bills $4. .791aGD 4.S0.
 Silver certificates 62si6b63a. Bar silver es%. Mexican dollars 491a.
 Government and state bonds steady.
 fBy Private Wire to Murphy & Col