The age-herald., 1901-09-19
SHOCKS BUOYANT ON SYMPATHY Frost Scare in Corn Belt of
 Tuesday Almost DispelIed
ACUTE LIQUIDATION
Buying Was Without Any Specific News to Explain It-The Money Market Was Tranqul-A
 Great Many Advances.

z New York September 1S.-People who argued that the sudden weakness that de- veloped in the stock market yesterday afternoon after the early show of strength was due to the frost scare in the corn belt found confirmation for their views in the recovery in the stock market today simultaneously with the reaction in corn. The loss of all yesterdays rise in the price of corn showed all eagerness to realize on the lines that took the edge off the ap- prehension regarding the reported further damage to the crop.
 The effect of this development was naturally most pronounced in the stocks of the great western railroads, whose traffic is large in corn, namely the Changers and Pacifics, including Atchison and Missouri Pacific. But there was no reason why the developments in the corn !, market should have a sympathetic effect on railroads in Southern territory those carrying anthracite and bituminous coal and the net work of central traffic and minor Eastern trunk lines which are usually designated as junior Vanderbilts. Prices of all of these stocks were nota- bly buoyant and the buying of them was on scale which could only be fer lie account of the largest of the local inter- ests.- Buying was without any specific news to explain it. It was attributed to the same sources as that which con stitutcd the determined support of the market all through the recent crisis. The public In Wall stIeet was strong in the conviction that what are called the van derbilt, Morgan, Gould, Rockefeller ana Hartman interests were all buyers on very large scale f the various stocks Tn which they are terested. Speculators and professional l,erators exhibited the best powers of conjecture, in striving to discover the motive of this buying AS there was acute pressure of liquidation the mere purpose to support the markee was not sufficient explanation as IL was on last Friday and Monday. There was considerable cross trading early In the day, which had the appearance or an CT fort to confuse sentiment, brokers usu- ally acting for large capitalists making very large trades on both sides or the market ana almost simultaneously The persistent weakness of Amalganateo Copper, wnich fell another A points today, still further confused sentiment when that stock made a vigorous rally Of 2ss the effect of the buying elsewhere became emphasized and prices rose buoyantly throughout the list to the top level Of the day. Southern Railway was easily the feature and nearly all the transactions In the stock during the last hour were In one thousand to five thousand share lots. The price advanced two points and an ex- tended additional list of the Morgan railroads advanced from one to two points Hooking Valley gained hB. The Vanderbilt group. including New iorA Central, the New York; Chicago and St. Louis stocks, Canada Southern, Cleve- land, Chicago, Cincinnati and St. Louis, Peoria and Eastern and Lake Erie and Western rose from 2h to 7ls giving rise to confident predictions of an early an nouncement of a comprehensive plan of merger for all the Vanderbilts. The rise of Az in Sugar was due to the stock sup scription rights declared by the stock holders today. Conditions in the money market were tranquil under the influence of continued large outgo from the sup treasury to the money market. The banks have gained during the week rom that institution $11, ,546, 900. The easing ef- feet of this replenishment served to fur finer steady foreign exchange rates and deferred engagements of gold for import, while the exchange at Chicago fell back to twenty cents discount, compared with 10 cents discount yesterday and par on Friday.
 Speculative bonds were active and strong but there was some irregular1ty among less active issue. Total sales, par value, $2, ,09b, 900.
 United States refunding 2s advanced h per cent on the last call.
 New York Stock Market.
 By Private Wire to Murphy c Co