The age-herald., 1901-09-17
h'RAMPANT BULL
 STOCK MARKET Most Sangulne Could Hardly Realize the Fact CONFIDENCE UNWAvERlNG There Was a Considerable Element Who Expected to Buy On Break,
 But They Were Sadly Dis .-,.... ppoInted-cIosed at Best.
CONFIDENCE UNWAvERlNG 6

New York, September 1e.-A rampant bull stock market on the first day of trade following the death by assassina- ton of the President of the United States Is an anomaly Badly stated, that is what occurred today, No one, even the most sanguine, was prepared for the ac- tion of the days stock market. Much was heard on Saturday and has been pub j, lished since on the length to which the lamentabie outcome of the President 8 hurt had already been discounted in the operations of last week, and especially those of Friday. In part these assertions were made with a view of influencing speculative sentiment and keeping up the courage of those who feared a collapse in the market. Those who made the as- sertions sincerely. probably had no idea of the extent to which the recuperative forces in the market would be affected, but supposed merely that demorallzation would be checked and the market be able to resist violent losses. Confidence was felt in fact that the purely speculative pressure on the market would be success fully overcome, owing to the extent to which speculative selingy had already gone, and to the ample preparations and concerted measures adopted by the clear ing house banks and great capitalists to protect the money market and resist de- clines in the stock market. The portion of the problem remaining to be solved was the effect which would be produced upon business sentiment in general : throughout the country and among the substantial investment holders of secur- ities. The days events seemed to de, monstrate strong underlying confidence in the future of business and the continu- ance of the country's prosperity. Power flrl manipulation had it's part in the days rise in prices, especially at the opening, which did not intimate the speculative bear element. This had it's effect and caused scramble to cover on the part of uncovered shorts, who looked for further decline.
 There also was an abutment of orders to- buy at prices below the market on the part of investors and bargain hunters which served as a protection against bear aggression. There was a considerable element as well which looked for an open ing break in prices and hoped to secure bargains by placing orders to buy at the market. As the event proved, the opening market was from three to six points high than on Friday afternoon There was a lack of confidence in the early strength Of the market and there were many real fzing movements during the day, but the absorptive power of the buying proved equal to all of these and with a steady up- life trading closed active and firm at about the top level of the day The solemn assurances given by the new President of the purpose to maintain the continuity of the governmental policies ,wfs a. relief to capitals conservative dread of change. The bank statement of Saturday [ encouraged the hope that the .treasurg,s relief of the money market would prove effective against money stringency, Large dividend payments to- day, including the distribution of $S0O0.- 900 to Standard oil stockholders made themselves a prominent factor
 The days movement, however, was based broadly on the assumption that the death of the President and other unfavor- able factors in the business outlook have been sufficiently discounted in the move- ment of prices of securities with a promise of betterment in future
 Except the speculative issues, which were active and buoyant, the price move ment in railroad bonds and the amount of business done were not large.
 Total sales, par value 8, 772, ,000. United States new As advanced per cent. on the last call