The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-10-22
THE WORLDS MARKETS
Daily Record Of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest OF Exchange Nsws-Niniug eeocks.
Metal ouotasions-wooi Prices ana
Aovsments-0rain n Pro-
duce-Rsview OF Trade.

New York. Oct. 21.-The motor nerve OF
the worlds markets was touched to-day
by the reported orders OF the government,
Fashoda. There was a prompt recovery
In government securities In London and
Paris and incorporate stocks at all for
eign markets. For the same reason there
was a weakening In the wheat markets OF
the world. including New York. Chicago
and San Francisco. This checked yester-
days advance in the stock market. But
when IL became evident later In the day
hat there was good support in the wheat
market from a continued heavy demand
for export. In spite of the subsistence Of
the wal scare and of the continued heavy
receipts at the primary points, there
sprang up the demand for railroad stocks,
which showed itself more confident and
urgent than anything that has been seen
In the stock market for several days Nat
urally there was a demand for the stocks
OF grain-carrying roads. The strength was
manifest. not only In the granger group
proper. but also in the Pacihcs. including
Northern, Union and Atchison. The pre-
ferred stock Of the latter road was, next
to st. Paul. the leader of the railroads In
point OF activity and was firm throughout
the day. closing with a net gain of I per
cent.
The absorption of the stock in the late
dealings was on a very large scale. The
dullness and heaviness of the stocks of
the great Eastern trunk lines were In
strong contrast. although. according to
q quoted u%tterance of the chairman of
the New York Central directors that many
companies cannot get cars enough to car
ry their freight coming forward, but are
cutting Enfaa and wnaLfa- .naera,e. .k>AA
at figures below the rate scheduled. II is
In line with this view to find the gross
earnings OF the Central for the Sept. 90
quarter falling nearly 500. 900 below those
Tor the corresponding quarter for last
year. while the balance available for div
idend is 155-1o per cent. compared with
110-100 per cent. last year.
The strength of Western. Southwestern
and Southern stocks was quite general.
Louisville leading the latter group with
an extreme rise of a point. The movement
OF the Industrial specialties was relatively
much less important than of late. To-
bacco advanced an extreme 3 points. but
met heavy sales. Sugar was raided below
III. but me the resisting point. and Man.
haitian, although II weakened early on
published ~utterances tending to discredIt
reports of early electrical equipment,
later rose over a point.
Sterling exchange advanced further to-
day In response to the stiffness OF foreign
money markets. which the clearing of po-
itical prospects does not relieve. but the
local money market continued easy. The
gain of the New York banks from gold
imports. from the sub-treasury and by
reason OF the marked decrease I'm the
OF currency to the interior is
estimated to be not far from 500 900. 900 for
the week. How far the reserve require
ments have been expanded through en-
larged deposits by reason OF loans made
on sterling exchange cannot be closely
but II may run as high as
SIS, 0Oo. 600.
proved and in the course of the day
shows gains generally. Total sales, s., 340,-
900.