Evening star., 1900-10-03
FINANCE AND TRADE
Decidedly Better Tone in Stocks With
Few Exceptions.
SUGAR WAS A WEAK SPOT
tennessee Coal and Iron Also
Shrunk Under Pressure.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. October 3.-Today's stock
| market was, with a few exceptions ex-
tremely strong in tone after the first hours
business Early trading reflected a want of
leadership, the Jewish holiday reducing the
attendance and restricting the volume OF
trading. Later In the day this latter factor
was ignored and good buying appeared In
many instances. Confidence in the cleo
tons and the belief that plans for an early
settlement Of the coal strike are well In
hand, in spite Of the delay. were the rea-
| sons assigned for the days advance
The recently organized pool in Union Pa
cific took round amounts of the stock up
to 3d. an advance OF IL per cent from the
morning The knowledge that the selling
represented fair volume of liquidation did
no: deter the advance. The room covered
literally in all parts of the list, as the re-
suit OF the determined advance in the
shares named. Northern Pacific, the gran
gers and both Atchison issues were in good
demand.
The Vanderbilt issues were given exceI
lent support. and the Gould shares An the
southwest reflected a confident demand.
The coal shares were well supported
Reading, for example. advancing In spite of
the fact that almost all Of it's coIlieries are
ldie Jersey Central reflected the presence
OF friendly interest also, the plans for
the future Of that company being only
slightly deranged by the strike An at
tempt to hold up the price Of Baltimore and
Ohio and the soft coal roads was successful
but interest In the latter group Is less pro-
nounced than formerly.
The railroad list as a whole was excep-
tlonally strong. and while professional buy
hQ fnl
demand. there was undoubtedly some i'm,
proVement In the tone and volume of COM
mlssiOn-house transactions.
Inc exceptions to the general tendency
OF the market were American Sugar and
Tennessee Coal and Iron The former stock
was lnf1uenced by sharp cuts in rates for
the refined product and q revival Of trade
war rumora
compact made to hold up rates during the
canning period for the benefit Of all the re-
nneries Is no longer operative. This reviyes
tne old struggle for regular business. but 1t
Is scarcely probable that the Improbable
contest OF the early spring will again be
tolerated.
Tennessee Coal was weak under actual
liquidations of long stock. forced out by the
testimony OF the tape against the prospect
OF Z per cent dividend at tomorrow's
meeting OF the directors. The price declined
per cent from the low level of yesterday.
and rallied later in the day to SO. an adj
vance OF per cent from the low price of
this morning.
Rumors OF the possible action on the divf-
dend vary from the passing of all dividends
to declaration Of 1 per cent The selling
OF the stock came from significant quar-
tiers, and the results expected Indicate no
fear of being abie to repurchase recent
sales at profitable level.
The money market reflected no sienfh-
cant changes. Bankers are expecting more
for their money later on. and any con-
tinuatfon OF the advance In the stock mar
ket VIII result In necessary expansion OF
leans which would in addition to other da
mands, increase rates