The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1899-10-20
Eimamcial.


| New York, Oct 19.-The stock mark
| ct showed signs of continued strength
during the early hours of the trading
and the covering movement amongst a
| large outstanding bear interest contin-
ued in active force. The professional
opponents of the bears did all they
could to take the market away from
them by bidding UP prices picking out
individual stocks for that purpose to
increase the appearance of strength in
the market AS the demand from the
bears fell off later in the day the fact
began to emerge that there is no very
eager demand for stocks amongst the
public at large and prices began to
slip downward. Seeing the hesitency
of the advance, the bears took renewed
courage and put out new short lines.
The fall in prices was considerably ac-
celebrated during the last hour and the
demand to cover at the decline was
sufficient to cause only feeble rally
The closing was barely steady and the
earlier gains were practically all wiped
out. The fall in prices from the top
level reached a point or over in large
number of prominent railroad stocks
and in some Of the industrial special
ties ranged from 1 to over 8 points. The
railroads running through the south
ern region came in to prominence late
in the day on account of the general
activity and prosperity of business in
that locality and the relatively larger
increases in earnings shown by it's rail-
roads. Illinois Central, Louisville and
Nrnn ,,yi1I
Norfolk and Western pref, and Ches-
apealde and Ohio all showed benefit
from this cause and the gains estab-
lished were better maintained than at
other points. Individual strength was
shown also by Colorado and Southern
LIST pref, Tennessee Coal, the Interna-
tional paper stocks, Northern Pacific,
the Hooking Valley stocks, New York,
Chicago and ST. Louis 1st pref, Ameri-
can Car, American Linseed Oil, and
Chicago Terminal Pullman reacted
sharply after its prolonged advance,
receding an extreme points and losing
AZ net Consolidated Gas fell ~ but
partly recovered The local traction
stocks and Sugar were sharp sufferers
in the late weakness. The reaction
was as much without explanation as
Yesterdays advance and could only be
attributed to the closing up of profess
sional operations Call money ruled at
per cent for most of the day, but stiff
fened to 6 per cent before the close.
The coming bank statement is the sub
ject and surmise and observers are I'M
able to figure on any improvement The
movement of money to the interior
shows some. falling off but still con-
tinues in that direction on balance and
the course of New York exchange at
several important points continues
downwards. With no gain in cash re-
sources from any sotIrce, the condition
of the banks can only have been
by further contraction
in loans The actual rate for demand
sterling bounded up full " a cent to-
day. Cotton bills continue exceedingly
scarce and the demand for exchange
quite large. This demand is attributed
in part to the requirements for remit
lance on account of the conversion of
Central Pacific securities The posi-
bility of gold exports depends on how
much further this demand shall ex-
tend, The rate for demand sterling is
now only a cent under that at which
gold went out earlier in the year.
There was a notable broadening in
the bond market, many quiescent issues
coming into activity. The tone was
generally strong. Total sales par value |
81, 100000
United States So advanced X in the
Did price
ALU rom STOCE f lEnLr