Evening star., 1901-10-11
Stocks Took on a Decidedly Bullisb
Tone Today.
DUE 10 FINANCIAL SITUATION
Nearly All the STANDARD Shares
Made Sharp Advances.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK. October 1l.-opening prices
this morning were generally higher, In
sympathy with London. and the later trad
ing ran into a pronounced rally in all parts
of the list The covering Of short contracts
continued on a considerable scale, but buy
ing orders by commission houses also In
creased in volume. There was decided
change in sentiment. and even the profess
sional trader was disposed to take the long
side OF the market for a turn.
The reason for the improved tone Of the
market lies wholly In the fact that the
money market seems likely TO remain in a
normal condition during the balance of the
season. The paying of OF liberal volume
of city loans during the present week should
help to reduce the total loan showing to be
made In the bank statement tomorrow. Any
decrease In loans is a step In the right di-
rection and will have considerable weight
with hnanciers who are waiting TO bring out
new plans of consolidation and the like.
IL Is to be remembered. however, that the
money market cannot remain easy with
any increase in the demand due 10 big
speculation. as the stock exchange buoyancy
must be kept within bounds in order that
the fact Of its existence may not be the
means Of its own ending.
There are assurances that the money
market can take care of few matters IN
the near future and the Great Northern
Northern Pacific scheme seems TO nave
the right OF way.
A holding company is said TO be contem-
plated and several changes In properties
only collaterally interested may follow.
Erie may lose its Hill influence and become
more completely Morgan road held in the
interest of a great transaction covering all
the coal properties. Great Northern, on the
other hand, will remain in control OF the
Hill faction, but with an increased Morgan
interest.
The big interests are getting into line to
carry out the projects which the folly OF
May forced into seclusion.
st. Paul was the feature of the market
under a splendid volume of business in
which the leading banking interests were
conspicuous. This property is too valuable
to be left out of plans in the northwest
and its friends predict that II will COM
mand position and price equal to that Of
Burlington. However this may be- il Is
certain that today's buying was of the
best, even allowing for the covering of
short stock.
In all parts of the list there were evi-
oences OF good buying, the Standard Oh.
vanderbilt and Gould properties all re-
Meeting the better speculative feeling The
advance was regarded as having been some-
what overdone, and conservative houses
urged caution at the end OF the day.
All of the better class of railroad stocks
rallied with surprising ease, and the street
argued that the recent selling had placed
stocks In strong hands. Union Pacific
crossed par under an inside demand. and
many issues made the rest levels Of the
season.
There was no especial news to go on out
side OF the apparent fact that LIQUIDATION
was over. and that the money market was
encouraging to new ventures. These facts
resulted In an increased public Interest and
the supply of stocks being scarce a rapid
rise followed.