The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-12-03
The WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest OF Exchange News-Minine Stocks.
Meta Quotat.ons-wooi Prices and
Movements Grain and Pro-
duce-Rsview OF Trade.

New York. Dec. 2.-The stock market
view manifested on the London exchange
as to the future value of American Sc
c~urities. Americans were the feature OF
that market and were marked up quite
sharply before the opening here. The
countermanding of orders for engagement
Of gold for shipment 10 New York allie
waited apprehension in London over the
none market outlook. The rate for call
money there fell to 2is per cent. and was
easier also in Paris as a result of the ex-
tensive accommodation accorded the
money market by the Bank of England
New York of the higher prices abroad
was only temporary and the demand for
standard stocks became se~mi-stagnant.
In the dizziness which s~upervened the
movement of prices for standard stocks
was extremely irregular. the irregularity
extending so far as a contrary movement:
of different issues of the same ompany
Thus. the preferred stock Of Chicago a
Eastern Illinois and St. Louis a San
Francisco first preferred moved upward.
while the common stock of the former
and the second preferred of the latter
suffered heavy losses. The preferred stock
Of Union Pacific was also frmer relatively
than the common stock.
Generally speaking, the Pacific stocks.
including Northern. Union. Central and
Southern Pacific. suffered from extensive
profit-taking sales. The %nger were In
the same category. The sluggishness and
heaviness of the railway list caused a
continued diversion of speculative activity
in the Industrial specialties. uga show
ed the greatest activity and its decline in
the late dealings, after an early period
of strength. was no small factor I'm the
general heaviness toward the close of the
day. The decline in this specially was
based upon the lowering price of the
product by a leading competitor and on
the opinion that the recent demand In
the trade has been altogether abnormal.
Brooklyn Transit rose at one time above
20 TO the high record price, and Metropol-
itan Street Railway was strong on the
talk of the increased dividend. TIL pre-
ferred stocks of the Rubber and Leather
companies enjoyed the benefit of favora-
bile trade conditions. Federal Steel pre-
ferred was suddenly marked up almost a
point without any explanatory new devel-
opment. and other iron and steel stocks
responded I'm sympathy. Linseed Oil rose
TO 6L on the reported underwriting by a
syndicate plan. but lost the gain. Gen
eral Electric was helped by the expected
declination of 1850 per cent. of the accu-
mulated dividend of the preferred stock
Pacific Mail was a strong feature of tn,
increase I'm net earnings for October oi
sl2s. s07. due TO the increased trade activity
in the Pacific ocean. The anticipation OF
poor fourth-week traffic returns for rail
roads on account of bad weather had It's
influence i'm causing the reaction. The
days net changes are mixed.
The bond market was active and prices
were better sustained than In stocks
Iron Mountain SIS were a feature, with a
rise above par to 10l, and Denver & Rio
Grande As were added to the list of reor
ganization As valued at par OF above. To,
tai sales. 3. 1885, 600.
u. S. old As registered and the 2s ad'
vanced II per cent. in the bid price.