The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-09-28
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest of Exchange News-Mining Stocks.
Metal Quotations-wool Prices and
Movements-Grain and Pro-
duce-Review OF Trade.

New York. Sept. 27.-Transactions in the
| railway and miscellaneous market showed
a better distribution to-day and the rsi.-
ways assumed more prominence In the
trading than for some time. Speculative
sentiment became decidedly bearish over
| night n the bears adopted what APPEAR
ed to be a well-outlined plan during the
day.
Tobacco was utilized as a lever to initi-
ate the drive. but after the price was
damned down 81 points 10 1924. the stock
met uppor and recovered materially.
The bulls endeavored to stem the iown-
ward rush by working up sugar and Met
ropolitan and succeeded in steadying the
list. The bears. finding considerable OPP
position in tobacco, called their attention
10 sugar and after creating Generalization
there, took the prominent specialties into
consideration, one after the other. ana
soon had prices tumbling all around. The
tactics Of the bear faction disconcerted
the bulls who. after apparently nrresting
the decline and forcing a rally in a leader.
had to meet fresh assaults on another
stock. with the result that the momentary
advance was soon lost. Rumors concern
ing Individual properties were set afioat
and considerable discussion arose over the
movement In tobacco. The generally &C
cepted theory was that some powerful in
terest was letting go ar extensive line OF
stock and the absence of demand for the
enormous blocks offered during the last
few DAYS facilitated the efforts OF the
shorts. Operations i'm the industrtals we're
conducted with considerable confidence by
the bear contingent and their success In
reaching stop loss orders encouraged them
TO attack the railways. Northern Pacific.
I'm which dealings have been on a large
scale recently. was picked out anc a two
point break followed. A liberal amount CT
long stock from holders came out IN the
grangers and the trading became guile
excited during an interval in the AFTER
noon. The list steadied occasionally, hut
any attempt to boost prices was s'"comI a.
MED by semi-stagnation. Late IN tie day
prices hardened on the August statement
of the Northern Pacific. which sho we'd an
increase in the total earnings Of $2lI,Es
Atchison's report for the same teTlCo,
which developed later. indicated a fa"irg
off in net earnings of $3S. 230, and the
hears renewed the attack. with nnal prices
at about the lowest. Sugar, after improv-
ing to 121&, encountered heavy realizing
orders, and on the way down The STOCK
came out AROUND the even figures, which
eventually put the prices to il7S. SuLse-
quently fluctuations were quite ftverish
and the stock closed at lS.
There was an absence of news bearing
upon the property aside from the usual
opposition features. The money market
was less active to-day. The rates ruled
3 to 4 per cent, with the lower figure rul-
| ing at the close. The contrd''s were with
out essential change and there was a Eo-
table shrinkage in the offerings of y ire
mercantile paper. Operations in bonds
were centered among the Islaly sCtlNe
issues and prices fell of substantial frac-
tions in some cases. Total sales. r.s6.0o0.
Government bonds shared in the general
weakness and the old IS reacted a Pei
cent.