The age-herald., 1901-10-25
A- PROFESSIONAL
 STOCK MARKET Prices inflated to Realize, Then ,, Positions Are Changed COALtRS THE FACTOR
The Forcing to Cover of Large Out standing Short interests is a Mo tive for Operations for the
 Advance-cIosed Steady.

New York, October 24.-Todays stock market showed what is frequent in the progress of professional operations in the market for an advance, namely, the shift ing of long accounts from one group or stocks onto another by realizing where an advance in prices has already occurred and buying into a group that has been quiescent. The group selected for the advance today was the ooalers. The plausible reasons for the advance in the prices of these stocks were the fact that the present years output promises to be the largest. on record, while prices are firmly maintained at a profitable level, both for the mining of the coal and It's transportation to the market. The policy adopted of beginning to advance the price of coal several months ago, brought 1t to the maximum intended on septem- Der 1, This had the result of keeping up the demand all through the summer months instead of throwing the require ments for the whole winter on the period of cold weather, but confidence is pro- fessed that the business will continue large through the winter. and much was m ade today of reports that only lack of sufficient cars placed limit upon the anthracite and soft coal movement While the effort was rather obvious to concen- trate speculative attention upon these stocks, and the cause which moved them there was enormous, realizing proceeding in St. Paul. Union Pacific, Southern Pa cffic and|he vanderbilts which have been advanced by the recent manipulation. Rather less was heard of the Northern Pacific settlement and the working out of extensive additional plans in the trans continental railroad field. The forcing to cover of large outstanding Short Inter est Is an evident factor and probably a motive for the operations for the ad- vance.
 The failure of a small brokerage house, not member of the strck exchange, which was caught shoot ot some of the stocks recently advanced, was an indi cation of the distress of that element. The heavy profit taking in the Pacific and St. Paul was empnastzcd by the de- cided weakness of ePoples Gas on threats Of continued hostile law suits. The stock fell an extreme points, closing at about the lowest. Amalgamated copper was also decidedly weak early in the day. The personality of the sellers gave the Appearance of inside liquidation There was rather more urgrnt selling of the United States steel stocks than for some time past but the decline was restrict ed to fraction and was partly rcrov- cred. Among the gains that in I.acka- wanna reached 8; Deiaware and Hudson and Baltimore and Ohio g. Chinese great western preferred 2k and others of tho coalers between 1 and }. Part of these advances were yielded before the ciohing which was heavy and near the lowest for some stocks. St. l,auls extreme decline was 2K; Chicago & Northwest ern 2H; Union Pacific IFS and others c Q point or over. Conditions ia the money market were without notable change. The sub-treasury ,n it's routine operatio ms has retrieved It's earlier contributions to the market on account of payment for gold deposit ,d ct Pacific coast |" i''ts There was pause in the advance In forS eign exchange owing to the lnrzer re- was renewed selling ot long sterling with a view to covering at maturity. The weekly statement of the hank of Ffence showed a strengthened condition but money rates continued hard In Paris and over a million doiIars Wal withdrawn from the Bank of Enyi1nd for shipmt mt to Paris, adding to t..e probability rf an early advance ir the Bank of England rate.
 The railroad bond market continued quite active but realis'ns in the conrtr- tible bonds made tt irregular. Fetal sales per value B. 52b,o00.
 United States bonds were all unchanged on the last call. , .s,..l New York Stock Market.
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