The age-herald., 1901-10-30
STOCK MARKET IS MUCH STRONGER Early Demand to Cover Short
 Contracts MICHIGAN CENTRAL RISE Sold Monday at f16 and Yesterday 1t Advanced to 14o-coffee and
 Steel Both Ad-
 vance.

New York, October 29.-The professed anxieties felt by the professional opera tors in stocks yesterday scanned to be considerably relieved today Their pro fessional brethren of bullish tendency added the incentive of lively bidding up here and there. Tn consequence there was a demand to cover short contracts, made the strongest during the early ses- sion. It was argued that with the easier tone of exchange and the moderate views expressed as to gold requirements by the authorities of the Bank of France the probability of an outgo of gold on Thurs day of this week was considerably lessen. ed. The announcement just before the close of the market for an engagement of S600 000 in gold for shipm ent on Thursday precipitated sharp realizing movement and wiped out a good part of the earlier advances. Another $200O,00o engagement was announced after the close. It was very notable that the stocks that were weakest yesterday were foremost as rule in the recovery today. The recovery did not reach to the full extent of yes- terday's losses at any time The upward reaction was achieved also on a consider ably smaller volume of business. There was an expectation this morning among the small spectators at least that formal announcement might be made during the day of an adjustment of the Northern Pacific difficulty. The competent ob- servers of the situation believed that this may be daily incident for some time to 
 constantly held but with much remaining to be agreed upon.
 Among the days special movements the sensational rise in Michigan Central revived the rumors of coming develop ments in the Vanderbilt group and was reflected in sharp advances in other mem bers of the group. Michigan Central sold yesterday at 116 and advance of several points over the preceding sale in last | March. Today it sold in 100 share lots successively at 118. 120, 125 135 and 140, after which it relapsed to 13O. No expla- nation was forthcoming of the movement
 Amalgamated Copper was influenced by the supposition that developments are pending which will benefit the conditions In the trade. There was some support al- so for the United States Steel stocks ac- companied by reports of great activity In that industry. Brokers credited with
 
 Steel and Amalgamated Copper bought their respective stocks together today. These interests have been supposed to hold divergent views of the speculative outlook for some time. The buying of Ama1gamated Copper for Boston account was very large as 1t was of other stocks This was supposed to be buying of stocks sold yesterday from that source In con- sequence with the movement of upward prices the prevalent view of the money outlook was less pessimistic, although condition In that market remained the same. number of feeble conditions which were ignored yesterday In the sell- Ing movement came up for consideration and continued the trade actively as re- fiected in the large bank clearings throughout the country and the sustained increase in railroad earnings. Reports today of September net earning showed increase over September of last year for some of the systems as follows: Atch- ison, s423 966: The Reading system, ESQ., S53 the Northern Pacific, $363,227; Erie s3s2. 227 and Chesapeake and Ohio, $31.- 775 Amalgamated Copper was the only stock to recover all of yesterdays de- cline The closing was dull and heavy at the reaction. Railroad bonds moved narrowly and were irregular.
 Total sales, par value, s1,S75000. United States As declined A per cent on. the last call.
 New York Stock Market.
 Ry Private Wire to Murphy Co.