The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-10-16
THE WORLDS MARKETS
Daily Record Of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest Of Exchange News-Mining Stocks
Metal Quotstaons-wool Prices and
Movements-0rain and Pro-
duce-Review OF Trade.

New York. Oct. 15.-There was little
change In the character of the stock mar
ket to-day. the erratic tendency of the
leading industrial specialties keeping the
general list greatly unsettled. The OPEN
ing decline was general and was rejected
from abroad. Both Tobacco and Sugar
went down at the opening. but Sugar
reached the point Of resistance and en-
countered large buying. which put the
bears on their mettle again. They covered
quite freely and ran the price up to lie.
Urgent demands then stopped for the
day but the range was held above last
night close. Tobacco dropped OF 3L
points to l14A. and closed at about the
lowest. The continued disposition of
Northern Pacific to sag also checked any
upward tendency and discouraged activity
In the railroad list. There was a conspic-
uous movement I'm the late dealings in
Louisville a. Southern preferred. Trade
attributed this to the prospects of relief
from the yellow fever by the coming cold
weather. but In the case OF Southern Rail-
way there were reports of an approaching
dividend declaration. The picking up of
high grade dividend stocks In small lots
was a continued healthful feature of the
market. The dealings in the outside mar
ket were In the Federal Steel company's
securities, which are to be listed on the
stock exchange Monday. The stock mar
ket enjoyed a brief upward reaction to-
ward the middle Of the week owing to a
recovery In the group of stocks which
mas exercised an unsettling influence for
some time past. but a recurrence of weak
ness In the stock has led to surmises as
10 whether their recovery was not due
simply to the closing Of a bear specula-
tion' leaving them for the future without
even the sustaining force of a large out
Standing short tnfaEIGt Tha lxvaru. 4,
the general list has halted because of this
doubt IN spite OF the many ndercurrents
OF strength which have manifested them
selves.
There is general confidence I'm the
strength OF the financial and business out
look so that when Tobacco began to ad-
vance on the strength OF the announced
ACQUISITION OF an opposition plug tobacco
plant, and Sugar gave evidence of resist
ance to the long decline. with the reported
advance In the price of low grade refined
sugars. and Northern Pacific was heavily
bought by the same brokers whose earlier
selling was said to represent inside con-
nicting interests. the small room traders
ah turned from bears to bulls and large
financial interests proceeded to bid up
the prices Of properties in which they
were interested right merriiy. But Sugar.
Northern PACING and Tobacco all turned
DOWNWARD again and brought TO the sur
race once more the elements of doubt and
hesltation. III Us accepted as the natural
oruer OF Things In wall street that there
shail De a period OF dullness and reaction
preceding a congressional or presidential
erection. There Is felt TO be room for
some uneasiness also over the foreign po-
ntical situation. the domestic unrest in
france, the Anglo-french relations. the
conhict Oh interests which may be precip-
ltateo py the EXTRAORDINARY events in
NINA ana the money stringency In Ber-
I'M. Inc iatter part OF the week mas seen
a relapse INTO guinness In the stock ex-
chahge ana a renewal or bear tactics.
wnich Is always a feature OF bull mar
he.s.
Inc events OF the week IN financial cir
cies were the advance In the Bank OF
Ehg'anu minimum rate OF discount from
. 10 per cent the sharp rise IN the pri-
Na'e uiscouht rate IN London In response
10 the oank borrowing from the market,
anu 'he use IN the rate or exchange on
LONDON AT Paris. the eject has been that
WINE tne uemahu ana csole transfers on
Lonnon nave hardened at New YORK those
at faris ana Berlin nave fallen In spite OF
tne adNahce IN discount rates OF the Inn
periai herman pank 10 D per cent. and or
me austrian oank 10 "a per e on
Nionoay'
~ Is clear enough mat the Bank OF