The times. [volume] (Richmond, Va.) 1890-1903, 1901-01-10
STOCK MARKET
AGAIN BULLISH
Little Difficulty Experienced in Run
ming Prices Up.
ENORMOUS HOLDINGS MARKETED
This Was Accomplished Without Any
Notable Effect on Prices - Bears
Forced Prices Down Late I'm Day,
but There Were Good Rallies.
Rr Associated rrcss.l

(By Associated Prcss)
NEW YORK, Jan 9.--After short pre-
li,:aira-y contest to-day with the reac-
tieuary forces the stock market resumed
its recent bull characteristics There was
a prompt and striking response 10 any
demonstration OF strength, Inc pun itad-
crs finding no difficulty in running prices
IN by rapid stages several points in any
stock in which they began Diddlng Tor
shares.
The influence of these easy advances
exercised so strong sustaining influence
on The rest of the market that the inter
csts long of stocks had no difficulty in
marketing enormous holdings without any
Very notable effect on prices. The bears
who sold the market yesterday IN the
conviction that the elimination OF the rise
had been reached and that the reported
illness of the President might prove the
dciding factor in prcipitatinG q reaction
were forced to cover in some disorder.
The sustained strength in the market can
not be entirely accounted Tor without
making due allowance for the persistence
of II large very short interest at al! the
present stages OF the rise.
The borrowing demand Tor stocks Is
proof OF the existence OF the short inter-
est More or less difficulty is experienced
in securing stocks for delivery on short
accounts, and borrowers of some stocks
are obliged to ioreSo Interest," on their
money witflStandinS the repeated
backsets OF the bears they We're still ac-
tive to-day They effected some declines
at The opening. aided by the lower range
of prices fer Americans in London. and
by the acute weakness of a few stocks,
especially the National Tube stocks, on
the announced projects Of the building Of
great competing works by the Carnegie
interests. This caused q break OF points
in National Tube common and il. in the
preferred The Rubber stocks fell "a for
the common and . for the preferred. and
there was a drop OF ia in Lake Erie and
Western.
Excepting the Rubber stocks there were
good rallies in all of these in sympathy
with the general strength developed. The
opening dealings gave the impression that
Pacific had been selected as the leader for
the day. the demand absorbing no less
than LJ,1po shares on simultaneous sales,
But Missouri Pacific quickly forged to the
front after q nomentary backSet. which
carried it q below last night. This Wa
due To the heavy pro1lJ-taking attracted
by yesterdays :, points rise. The stock
was easily the leader Of the market and
was lifted in the afternoon Jla points more
above last nights level
There We're many rumorS current of
coming consultations OF the southwestern
railroad systems. without any authority
cited. and which We're met in some cases
by sern-0fficial disclaimers, but notwith
standing these disclaimers the SO-called
Gould SouthwestefnS all advanced from ,
TO %. Manhattan and Western Union
also gained ) and :is respectively. The
various stocks which We're successfully
brought forward in the advance would
make a long list. The most conspicuous
were Louisville and Nashville with rise
of :33s: Delaware and Hudson. "a; 1lii-
nois Central ~: Great Northern pre-
ferred, o3.: the local traction stocks from
~ to 3 outside of Third-ATenue. which
rose an extreme Gh; Sugar and Peoples
Gas. about 214 each: Union Pacific and
New York Central as much. and num-
Der of less prominent stocks with even
wider gains.
The rlanipulative character of the adj
vance and the persistent protit-taking was
so evident that the bears attacked the
market again late in The day and forced
declines running up to from to ) points
in several asses, but there were good raj
lies on covering by shorts
The grangerS We're rather less disposed
coalers We're affected by profit-taking
throughout
The dealings We're again on very large
scale, but did not approach Mondays
record There was a very active demand
for bonds of southwestern railroads. and
the whole list showed strength The gains
Were not in all cases fully maintained.
Total sales par value. 81, 5I,.000. United
States refunding IS advanced u on the
last call.
shares.
MONEY AND ENCHANGE.-Money on
:; per cent; prime mercantile paper, 4i3dJ
per cent. Sterling exchange firm. with
actual business in bankers bills at S.S6.Sdl
actual business in bankers bills at $4.S6:s
for demand and at 81. Sis for sixty DAYS;
posted rates. 81 S3l2diSf and SiS1h;
commercial bills. $; S2HG4- 81. Silver Ger
tiiicateS 6ii.065i.. bar silver. 63,s: MeXi-
can dollars -i95S. Government bonds
strong: State bonds inactive; railroad
bonds strong.