The age-herald., 1901-10-15
STOCK MARKET Is
 VERY SENSITIVE An Advance Will Require Large
 Financial Powers UNEASINESS OVER MONEY The Whole Tone of the Foreign Mar ket Continues Much Depressed.
 A Notable Decline In the 'r's Grain Movement.

New York ctober 14.-Efforts by large speculative interests to sustain and ao- vance the stock market continued in eVl- dence today. They succeeded In over coming the early weakness, but as the level of prices rose over that of Satur- day, their following decreased and the advance lost its force. It was not ag- gressive at any time and was restricted to a few stocks, notably St. Paul and the Pacifcs. The elimination of a large proportion of the short interest as a re- suit of advance late last week deprived the market of an important element of strength.
 It was evident that sustained advance at this time would have to depend on the efforts of the large financial powers. These elements were supposed last week to have embarked on a campaign for the advance owing to inside information of plans to settle the Northern Pacific tangle, but apparently last weeks reports on that subject were either not we'll founded or premature. The suspicion has gained force that the circulation of those re- ports was a manipulative measure against the shorts, or was designed to have the least possible effect upon specu- lation after actual announcements of some such measure. The perception emerges that measures to finance the Northern Pacific settlement are the great object to be attained at present rather than large ulterior projects of additional consultations
 The prevalent rumors of an assignment by. the financial powers of the control of the St. Paul to Union Pacific for com pensation as a relinquishment for the con- trol Of Northern Pacific to the Morgan Hill interests does not find great cred ence.
 Such sentiment would not provide for the naturalization of the Burlington sys- tenn as a competitor of the Union Pacific. which was the vital contention of the Union Pacific throughout the quarrel Nevertheless St. Paul showed itself the most sensitive stock In the market today, falling early in the day 1A below Satur- day, and rising later to 2A above. The rest of the market followed the move ment in St. Paul, though over lesser range throughout.
 In spite of favorable interpretations of Saturdays bank statements there is some uneasiness persisting of the safety of the money market for the rest of the season. The seemingly active demand for funds at Paris awakens considerable surmise at to the extent of the demands to be satis- fled at that center. The prevailing ease of money in London Is dependent upon the large amounts of French capital loan ed in that market and heavy withdrawals from London may have serious effect.
 The whole tine of foreign markets con- tinues much depressed. At the same time it is to be noted that the rise in sterling exchange has been circulated. To- days action by the Bank of England in advancing the price of American eagles ever indicates some apprehension of a future demand for gold from New York. Should the demand for sterling exchange for the purpose of repayment of foreign borrowings come to an end and the be- lated movement of cotton quickly grow, there can be little doubt that exchange would fall to the gold import point all most at once.
 The. notable decline in the movement of grain over the railroads exercised some depressing influence on the market The closing was unsteady, but at top prices for a number of stocks.
 There was decrease in the demand for railroad bonds and the movement of prices were irregular.
 Total sales, par value, $2,000,000
 United States bonds were all unchanged on the last call
 Mn,., XorL S<oek m arLs&