Evening star., 1900-10-12
Demand for Northern Pacific Strength
ened Entire Stock List.
SHORT COVERING FOLLOWED
Peoples Gas Was Also in Good
Demand Today.
GENERAL MARKET REPORT

Special Dispatch to The Evening Star.
NEW YORK, October 12-The undertone
of today's stock market was decidedly firm
as the result Of a mixed demand from pro-
fessional sources London was q liberal
buyer Of the International group. covering
recent sales and going long to some extent.
During the opening hour the demand for
Northern Pacific and Peoples Gas was
most urgent The short interest covered
hurriedly, and the room bid up prices all
along the line.
The steady demand for Northern Pacitic
has attracted attention for several days.
and rumors are rife that inside interests
have been doing most of the buying. In
stead Of remaining Indifferent to the move
ment in the active shares. as was the case
yesterday, the market generally responded
willingly to the advance.
The meeting Of the coal miners, while sug-
gesting a triumph for the radical party.
failed to assume the dignity of a market
incentive.
Pennsylvania and its allied lines advanced
ard Reading issues were not permitted to
become weak. The generally expressed
opinion is that further concessions will be
demanded Of the coal companies, but that
a firm stand will result in an ultimate ac-
ceptance OF the present compromise ar
rahgement.
The movements in the Traction ana Steel
stocks were not important. Manhattan was
the favorfte In the former group, and the
older issues, such as Tennessee Coal and
Iron and Colorado Fuel, reflected the best
demand in the latter.
The market was chiefly remarkable for
It's ability to resist pressure, and the only
reason assigned for the firm tone was the
failure to force actual outside liquidation.
Ihere were two factors which had a direct
influence on sentiment during the day and
which may be credited with the general
strength Of the midday market The first
was the published letter of ex-Presideut
Cleveland and the second was the certainty
of gold imports
The political and financial horizon were
both cleared somewhat by these events OF
the gold actually engaged for shipment to
this side the Bank of England shipped
AUo'oOo and the Bank of France about
S2.3oo.OOo. This inward movement Is only
started. and total of five times the pres
ent consignment may be expected should
the need continue.
The bank statement tomorrow in certain
to show a further loss in cash resources
As is often the case the statement will nor
actually reflect the business of the banks
a the heavy shipments made YESTERDAY
Will not appear, but may be Offset by the
weekend shipments which were not in
cluded in last Saturdays exhibit Esti-
mates made UP to the close Of business
yesterday would Indicate that the loss IN
cash has been s., 600 600.
or this amount nearly 81, 600 600 was sent
10 the interior, and the balance was lost to
the subtreasury. Should this loss be shown
IN tomorrow statement q considerable re-
auction in the surplus reserve would fol-
low. The gold shipments. of course, will
renected further nervousness on the part
OF the short interest Peoples Gas and
Northern Pacific leading spirited advance
ngnt UP to the close OF business.