The age-herald., 1901-08-27
4 NURSED MARKET
 ID TAKE PROFITS Outside Demand for All Stocks
 Considerably Augmented STEEL SITUATION WATCHED The Market Proved Easily Vulnerable
STEEL SITUATION WATCHED
The Market Proved Easily Vulnerable To Professional Attack by the Bear Contingent-The Coalers Were
 Helped by Expected Advance.

New York, August 26.-The stock mar ket had more thorough test today than at any time since the rise in prices set h. The result was not altogether con elusive The outside demand for stocks was considerably augmented, as was ex- pected A sustained advance for two weeks and an evident growth of interest and increasing tendency to buy stocks may always be depended on to produce this result. Equally matter of course Is the tendency of the professional trad CTS who have been accommodating stocks and carefully nursing the market during the rise, to include their holdings on this outside buying so as to make sure or portion of their profits. This process was very obviously going on during the first hour of the market today, which was the most active of the day. Some recession in prices resulted but the market on the whole took the realizing very well and no serious inroads were made upon prices. After late hours there was new advices and the market gave the appear ance of generally being still in the con- trol of the bulls Buying demand, how ever, became languid and then almost torpid, and the market proved easily vulnerable to the attack by the profes- sienal bears. In the last hour prices were quite generally below Saturdays level substantial rally followed but this again proved somewhat short-lived and the closing was irregular and quite active with speculative sentiment mani festly much unsettled. There were va foN xxbi bulls in opening prices higher The fail ure of the steel workers in South Chicago to strike and the reports of an intended concliatory attempt by the strikers them selves at a settlement affected not only the steel stocks but the whole market
 London led off with good buying or Americans after its Saturday holiday Rumors were rife of coming definite an nouncement of plans growing out or the Northern Pacific settlement. The ap- preaching September advance in the price of anthracite helped the Coalers ana the Fries were also affected by the reported acquisition of the Cincinnati, Hamilton and Dayton The reaction was due to the apprehension that money was destined 10 work closer from this time on, It was feared also that the large interests who have been fostering the rise has taken this opportunity to realize on Saturday, and this morning and would retire from the market until the autumns demand for money are satisfied. London has grown optimistic and expects easy money through the fall, but the expectation IS based on the hope that New York VIII not draw gold and take no action of the rumored Russian loan at Paris. An ln- Q terview with Secretary Gage puplsneu this morning, in which he professes to see no reason for departure from the present policy of his department of purchasing a. a,1 tha a element in Wall street which was ex- pecting relief from that quarter.
 Chicago drew currency today from New York, and the New York discount, rate there recovered to forty cents dis count, compared with fifty cents last week.
 Railroad bonds showed increased inac- tivity. Gains were affected by Che late reaction in stocks.
 Total sales, par value, S259O,OOO
 United States new As advanced fl per cent. on the last call.