The times. [volume] (Richmond, Va.) 1890-1903, 1900-10-06
BULLS WORKING
FOR AN ADYANC
Strength Utilized for Realization of
Profits.
The MARKET CLOSED HEAVY
and at a Substantial Reaction From
tho Best Level of the Day-Bonds
Continued Irregular and Vol
ume OF Dealing Small.
tgy Associated Press


NEW YORK. Oct 5-The stock market
continued 10 show the eiiects OIL proies-
siohai operations for the advance To-Day
Ne" points CT strength developed under
lae SI31 unSF operations OF the Dull parry,
ana the sustaining influence thus Afforded
was taken advantage OF to reahze IN
STOCKS which have already had their az
vance. DISTINCTION was thus made, even
Ia STOCKS OF the same group, as, Tor IN
stance, In the steel and IRON group, where
National Steel and I'm Plate hung BACK
while other members of the group were
pushed forward. Even Tennessee Coal,
dragged behind the others. 1t was pulled
Up IN sympathy with the general rise,
put closed with a small net loss me
puylnS OF Steel and Wire was the most
CONSPICUOUS, rising at one time ~ III
rectors of the company were quoted as
expressing the belle THAT persons VINO
sold out last spring when The cut was
MADE in prices OF the product are trying
70 buy back their stock. a number OF
me steel stocks saved a net gain OF over
q point.
IN the railroad list there was the same
disposition manifest TO take up new
stocks for the advance, and those We're
selected for which the borrowing de-
u1and indicates that there has been q
Ohio, Northern Pacific. Missouri Pacific
and Burlington are in this class. There
was conspicuous buying OF Pennsylvania,
and ruulors were revived such as were
heard when the vast proportions of the
years earnings first begun TO be under
stood of an increase in the dividend rate.
Gossip on the Stock Exchange at
tributed the buying 10 the same inter
ests which We're active in the previous
movement. Some strength was shown in
Sugar, Peoples Gas and Brooklyn Tran
sit, in all Of which dealings We're large,
but the tone was feverish and irregular.
The market closed rather heavy and at
a substantial reaction from the best.
The preliminary estimates to the week
" cash exchanges We're rather disap-
pointing to those who had figured on
heavy offsets to the forces towards de-
pletion of the money supply. The net
loss to the banks in cash is expected to
be nearly $1,000 600. The large payment
of gold by the Sub-TTeaSury on last Fri
day is expected figure partly in this
weeks statement under the system of
with this allowance it Will be seen that
the inroad upon the surplus promises to
be about as large as last week. To-day's
money market continued firm. and ster-
ling exchange reacted, while discounts
We're easier in London.
on small volume of business. Total sales,
par value S1,loJ,000. United States
bonds unchanged.
The total sales of stocks to-day were
1850 shares.
MONEY AND observation-disclosures on
call firm at 2l1IG3 per cent: last loan at
213 per cent; prime mercantile paper.
:l05as per cent. Sterling exchange
weaker with actual business in bankers
i.S1H for sixty days; posted rates. 81. SO
4.S2Is and S4.S6dl. SCI: commercial bills,
81 SO156I4. 81. Silver certificates, G4$.@
G31i; bar silver. CAS-: Mexican dollars,
ah5s. Government bonds steady; State
bonds inactive; railroad bonds easy.