Omaha daily bee., 1901-01-10
After Preliminary Spnrring the Bulls
Lnrca Hmm InAe

NEW YORK. Jan 9.--After a short pre-
lminary contest today with the reaction1ry
forces the stock market resumed its recent
bull characteristics There was n prompt
and striking response to any demonstration
or strength, the leaders finding no difficulty
IN running prices up by rapid stages several
shares.
The Influence Of these easy advances cx-
erciscd so strong a sustaining influence on
The rest OF the market that the rest of ire
long stocks had no difficulty IN marketinS
urge holdings. The bears. who sold the
ton Of the rise had been reached and that
the reported Illness OF the president mtght
prove the deciding factor In precipitatinG
disorder The sustained strength in the
market cannot be entirely accorded with
OFT making due allowance for the persist
enCe ot big short interest
The borrowed demand for stocks Is proof
OF the existence Of the short interest. More
or less difficulty is experienced i'm securing
stocks for delivery on short acceptances and
borrowcrs for some stocks are Obliged "a
forcgo interest on their money. Notwith-
standing the repeated sothacks of the bears
they were still active today.
- There was "a break Of points In National
TRc GSr RubbSr soaks sna 9r fd tRG fo the
mon and for the preferred and there was
2, drop. OF 3L in Lake Erie and Western
good rallies I'm an of those In sympathy
with the general strength developed. The
opening dealings gave the impression that
Union Pacific had been selected as the
leader for the day, the demand absorbed nc
less than 1900 shares on simultaneous
sales. But Missouri Pacific quickly forged
TO tho front after a momcntary setback
which carried Il q below last night. This
was due 10 profit taking. attracted by yes
tcrday's 5-point rise. The stock was casiS
the leader of the market and was lifted IN
the afternoon 81 points more above last
nights level. There were many rumors
current of coming consolidation Of tn,
Southwestern railway systems without any
authority cited and which were met IN
some cases by seml-oniCial disclaimers. hui
Notwithstanding this the so-callcd Goult
Southwcsterns all advanced from TO pa
Manhattan and Western Union also gained
J and 9s, respectively.
sivcly brought forward In the advanc,
would have made a long list. The mos
conspicuous wore Louisville & Nashville
with n rise of 3Ss; Delaware q Hudson, "a
Illinois Central, AZ: Great Northern pre-
terrcd, bA; the local Traction stocks from
2R@3; Union Pacific and New York Contra
as much and u number of less prominent
stocks with even wider gains. The manipu
lativc character of the advance was so cvi
dent that the bears attacked the market
again later In the session and forced de
cllnes running up to from . to points II
several cases, but there were good rallies IL
covering by shorts. Tho Changers wer,
Cral list and the Coalers were effected 10y
profit taking throughout.
The insistonce on tho part of prominent
financiers whose names have been asso
clatcd with the reported ST. Paul deal thai
they had no knowledge of any such trans
action had somewhat depressing effect or
the Changers and Northwesterns cXcept foi
n late squirt In Great Northern preferred o
lai. The dealings were again on very
large scale. but did not approach ycster.
days record.
There was very active demand fol
bonds OF Southwestern railways and tn,
whole list showed strength. Tho gains
were not in all cases fully maintained
Total sales, par value, ST. 10000 United
States rcfunding IS advanced y per cent OF
the last call.
Tho Now York Stock nNchnnrn.