The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-10-14
THE WORLDS Markets
Daily Record Of Commercial and
Financial Transactions
NEW YORK STOCK REPORT
Digest OF Exchangs News-Minine Stocks.
Metal 0uotataons-Wooi Prices and
Aovements-orain and Pro-
d~uce-Review OF Trsds.

New York. Oct. 1s.-The advance In
prices I'm to-day's stock market was even
more significant of the improved tone Of
speculative sentiment than that Of yes
terday. For one reason this was true. be-
cause quite a large short interest was
eliminated from the market by yester-
days advance. Another fact that might
have been utilized by the bears was the
depression in foreign markets. 50 marked
as to suggest some knowledge Of pending
political complications In the deeper IMAM
cisl currents. Not only was this Indicated
by the heaviness Of securities. a fall Of
5-lsd In British consols and Of Is centimes
in French rentes. but the excited condi-
ton Of the foreign markets. The opening
In Wall street brought orders to sell 5000
shares or upward of stock for London
account. The bears did. In fact. avail
themselves OF this opening to make a
drive against Tobacco, Sugar and North
ern Pacific. but the confident manner In
which all offerings. both for the London
and short account. were absorbed took all
the assurance out OF them and their only
other aggressive move the remainder Of
the day was a drive against Tobacco.
The bears have counted much on the dam
dg1nR eutCtS OF tne wa III tnt rukuf V
inning industry. the conflict over the plug
tobacco trade and the reported divergence
OF ideas among the powers OF Northern
Pacific preferred over the question OF a
dividend on common stock to check any
advance in the market on account OF very
favorable returns of railroad earnings
and the generally prosperous outlook for
business.
The movement of prices in securities
gave warning of compromises and ADJUST
ments and took away the mainstay of
the bear movement. The process or cover
ing short contracts therefore proceeded
on a large scale and large financial inter-
ests offered aggressive support to the
prices of properties in which they were
interested. A significant feature of the
days trading was the investment demand
for small lots of gilt-edge stocks. There
were conspicuous movements OF this sort
in st. Paul preferred. Pullman, Great
Northern preferred. Manitoba, Albany &
Susauehanna. st. Paul q Omaha prefer
red and Pennsylvania. The advance in
Pullman. Manitoba and Great Northern
preferred extended from 3x&4< per cent.
and Manitoba closed with a bid Of III
per cent. higher than last night. This
buying IN a natural concomitant OF the
growing ease I'm the money market.
Call loans were made at 2 per cent. to-
day and there In a constant Increase In
the supply of money offering. both for
time oan and mercantile paper Short
selling was slightly firmer In tone in re-
Spouse to the advances In the Bank OF
England rates. A small engagement OF
gold for import was without influence on
sentiment. To-day's net gains equal Q
point for many stocks.
The demand for high grade bonds was a
reflection of the growing absence of sur
plus capital. Total sales. s2.0o5 ooo. u. 8
SIS. the old As registered and the new ~
advanced u per cent. in the bid price
The as coupon sold at io5%. the highest
yet.