Evening star., 1900-10-05
FINANCE AND TRADE
Decidedly Stronger Tone to the
Stock Market Today.
ADVANCE IN COAL ROAD SHARES
Pacific Issues Also Were ip
Better Demand.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch TO The Evening Star.
NEW YORK, October 5.-The strength OF
the stock market. which began to attract
attention early in the week was strongly
IN evidence again today. Commission houses
traded on both sides Of the market. but
bought more than they sold. The various
ciiques moved up their specialties and en-
countered little resistance. London devol-
oped better tone as the result of the more
satisfactory monetary conditions and the
favorable turn in Chinese affairs.
Election forecasts were construed into
favorable argument, and some speculative
buying was encouraged in consequences
Tomorrows bank statement was Nnored
as factor. and the firm rates for money
failed to make any impression on the conf
dence of the buying party. Stocks. In the
railway department, at least, were bought
on values and earnings We're considered.
even among traders. as the basis of the de-
mand.
The assurances from officials Of coal
properties that the strike would shortly
oe settIed resulted in positive demand for
the stocks In interest PENNSYLVANIA Rail-
road being especially we'll bought up to
1907, gain of IL per cent for the day
Reading and Jersey Central were strong
and were being absorbed by an influential
interest, 1t was said.
The buying of Union Pacific by the recent
ly organized pools was continued on a con-
SIDERABLE scale, but profit taking retarded
the advance somewhat All of the Pacific
stocks developed a strong undertone.
me steel stocks were strong under a
mixed demand, the covering Of short stock
being credited with the bulk Of the de-
mand. The prospect for such an adjust
ment Of trade conditions as Will insure
resumption Of profitable business is said to
nave encouraged the abandonment Of the
pessimisuc position of the street on these
properties.
The Traction shares have improved In
speculative favor, but the advance Is due
largely to the covering of short contracts.
In Manhattan, however, the buying seem.
to have been more substantial one large
block of stock being bought for a promi-
nent corporation as an investment. Inside
interests have been buyers OF this stock
curing the week. on the theory that the
change In motive power will add materially
to present earnings.
The buying of Louisville and Nashville
was based on improved prospects for earn
inSs, commission houses having buying or
ders, In this stock for semi-inv tment ac-
count.
In view of the fact that sharp advances
have been recovered In all parts of the list,
extending in some instances to 3 per cent
during the last fortnight the market has
not gained enough in breadth to warrant
the belief in an uninterrupted advance from
these prices. There can be no doubt how
ever, that more hopeful feeling prevails
In hnancial circles. and that liquidation Is
not likely TO assume large proportions I'M
less an accident Of some sort DESTROYS con-
hdence. The campaign contains the mate
rial Tor frequent changes Of front but the
low prices or the summer are not In danger
of immediate duplication