Evening star., 1901-10-10
Stocks Recovered Some Today From
Recent Depression.
BOSTON A BUYER OF COPPER
improvement in Prices in Several
Railroad Properties.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, October 1O.-Today's stock
market reflected a slight improvement in
sentiment, and the. professional element
was disposed to cover a fair volume of
outstanding contracts. London sent over
higher range OF prices, especially for
Norfolk and Western. and prominent COM
mission houses were buyers of the latter
stock for Philadelphia account The rumor
that the Pennsylvania railroad was seek
ing to enlarge its interest in the property
In order to control its policy was credited
in certain influential circles.
The fact that q movement of this kind
was considered plausible helped to revive
confidence in the general market. at least
to the extent of discouraging sales The
urgent liquidation being over and aggressive
selling being no longer a factor, all OF the
recently active shares recovered easily un-
der mixed buying. Reports that Boston
houses were buyers OF Copper and that
trade conditions were a trifie more encour-
aging. resulted in stronger marked for
Amalgamated Copper.
The advance in this stock helped all the
so-called Standard ooil shares, and the
pressure from such sources was materially
lessened in consequence.
A sharp advance in the coal shares was a
feature of the day, labor troubles being less
ilhely anu runors OF INSIDE buying increas-
ing. Erie was trifle heavy for time
under the influence of a report that Presi-
uent Underwood would resign to take a
similar position in another Hill property.
Inc attempt to depress Erie was not sue
cessful, and the conclusion drawn in some
quarters that Mr.. Hill was withdrawing
one OF his best men after reducing HIS
stock holdings was not seriously consid-
ered In banking circles. Jersey Central ad-
Vanced sharply under a small demand, ana
both Lackawanna and Delaware and Hud-
son rejected better inquiry. Reading
issues were active at higher prices. and
some attempt was made to revive interest
In them In anticipation of. more active
steps toward the ong-delayed anthracite
coal deal.
1t is worthy of note that the Morgan
properties rallied easily and that the stories
OF Standard Oil-Morgan friction seemed TO
have served their purpose
Great Northern preferred stock moved up
easily In sympathy with an Increased buy
ing demand inspired by rumors of the early
announcement Of the Northern Pacific plan
The latter prospect was encouraging in
asmuch as 1t indicated q more satisfactory
money market condition. Bankers express
the belief that with speculation kept with
IN bounds the money furry feared at one
time will not materialize during the present
season. Should the money market reach a
point at which some OF the deferred plans
Of consolidation might be revived the whole
market would rally promptly.
The present encouraging prospect is not
enough to go on, however, and a permanent
change will come slowly
Better support in the Wabash issues and
the Gould shares generally was noted DUR
ing the morning, but the buying had no
significance beyond rejecting the prevailing
changing speculative sentiment Commits
sion house business improved as the day
progressed and the advance in prices was
the most substantial thus far recorded.
The market has not run beyond the linn
its of professional advance. and NAV
ease off again within a few hours. The
ease with which the rally was recorded will
discourage selling perhaps, and the situa-
tion viii be improved to that extent