The times. [volume] (Richmond, Va.) 1890-1903, 1900-10-13
UNDERGONE OF
MARKET STRONG
Prices Move Upward Pretty Con-
sistently.
NORTHERN PACIFIC IN DEMAND.
Leads the List OF the eailroads-Pro-
fcssionas Operators I;epor,ed
in the Money
II ar K 1.
NORTHERN PACIFIC IN DEMAND.
- Assncia1cl rress.l

NEW YORK, Oct l2.-ihe uHusi 49,
O: The STOCK market became siIoiie -.
Gay, and prices moved upHafu ~ 80.
consistently To the close, %sllch vi
strong Diit duh and with gains Wen
maintained The dominant iactoi az -
market was the large engagement % Q ~
Tor import, Lunaon, faf1s anu - ~, ~. 70
contributing. the total aiHcuit'i4'9 -,
s., l3DvVu. The dealings in slochs 49,
not large at any tme and the ol'si 49, .i
were attributed TO professionals i oi .IS
most part There was q iair dlSliiptit.o.
OF the strength, huI the eHectlNe 10 60
lngS during che day were coHteiitt. 80
in u lew stocks, ana those ci9tiiis. 80 80
ior the recent large snort StihlS - I'm oiii
which tncy have suffered. Peoples Gas
was the notable example III Tue lluus
trial department.. The stock sou 81: oii
alter the opening on the pfesuln ,,i
that yesterday buying mao sluSiieu INC
demand from the shorts. but the large
covering decline caused d Re
neweu advance. and IL was nited at one
time an extreme u, closing Win q MT
gain of Ia
In Inc railroad list Northern Pacific
was in large oemana, buying supposed TO
be Tor INSIDE interest But mere also the
large short interest played an important
part in the days ADVANCE, which repre-
sented ~, with the net gain IA. But
While the strength OF these two stocks
was Dre-efninent, a list OF those Whlcn
rose from / 10 points was a long one.
Notwithstanding the notable dizziness at
the last the closing was strong and gains
well maintained
The failure of the money rate to respond
to the operations on the stock market
gave color to the supposiuon that they
We're conducted by professional operators
who had supplied themselves with time
loans with u view to such q contingency
as the present. The call-ioan rate, in
fact was inclined to sag, the ruling rate
declining to . per cent, notwithstanding
that loans made to-day carry over until
Monday.
The further contraction in cash re-
serves Of the banks indicated by the pre-
Iilninary estimates failed to harden the
money rates. Apparently The banks have
lost upward OF SSuO0,oO0 or about as
much as last week This would effectu-
The banks unless the reserve requirements
have been considerably reduced. The ac-
tion Of the money market to-day indicates
that this must be the case, and promises
a showing of considerable loan con-
traction There was also some relaXa-
ton in the interior demand for currency.
The bond market was quiet and changes
were unimportant. Total sales. par value,
$4,000. United States new As advanced
Il per cent. on the last call.
The total sales OF stocks to-day were
249,200 shares.
MONEY. AND EXCHANGE.-aIcney on
call easier at 2i&G3l4 per cent; last loan
at %. per cent: prime mercantile paper,
5@6 per cent. Sterling exchange flrmer,
with actual business in bankers bills at
81 sos for demand and S4.S0d4 SOS for
sixty days; posted rates, $4.S1@4.S SLY;
certificates. 63a4 464a4; bar silver, 62l2;
Mexican dollars, 1917 Government bonds
strong: State bonds strong; railroad
bonds irregular.