The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-07-23
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest OF Exchange News-Mining Stocks
Metal Quotations-Woo Prices and
Movements-Grain and Pro-
duce-Review OF Trade.

New York. July 22.-To-day's stock mar
ket was an unimportant. even an ins.gnifi-
cant affair. London manifested some in
est in American securities, marking up
prices rather above the point reached on
this side, even on the opening rise. The
opening advance here finally succumhed
to the sympathetic influence of a reaction
in Sugar which lost over point. Heavi-
ness in other industrials helped to ho...
back the market. But the bears were no
more disposed to operate than the bulls
and the market declined TO nearly last
nights level.
The bank statement brought a realizing
movement which carried prices off in
some cases a point from the best. Rock
Island and a few other stocks which have
been going up for some time being the
most affected The offerings were well
absorbed and the short session ended with
quotations not far from last nights
prices The oppressive heat had some
thing to do with the extreme lassitude of
the trading.
Fort Worth and Denver city first mort
gage bonds rose IN points on the acquire
ment of traffic rights between Denver and
Pueblo by the Colorado & Southern, which
controls the road.
Net changes in prices of stocks for the
week are mostly small and show both
gains and losses. There were some sharp
losses in the early part of the week and
the movement after that was irregular.
1t was the smallest weeks business of
the year Even datings by professional
operators had dropped to a minimum.
Looking back over a period of a month 1t
is easy to discover that the best Judges
failed to correctly estimate the worlds
needs for money and the relapse of large
sums, which was confidently expected at
ter July has been successfully delayed
from day to day and from week to week.
Large loans were repaid to the Bank of
England in the first days of July, but
before the week was over the market was
again a borrower from the pank and has
been ever since at rates up to Az per cent,
as against the banks official minimum
of 3b per cent. Only in the last three
DAYS has there been any remarkable re-
Taxation in money stringency at the Brit
ish capital. 1t has been obvious, as the
situa ton developed that the London and
the continent were going to be more de-
pendent on the United States for relief
than was contemplated, and the continued
hardness of money here has aroused
doubt as to the availability of that relief.
The situation is conclusive evidence OF the
continued strong influence of America on
the money markets of the world. The IN
dustrial activity in Germany, especially in
iron and steel. and the speculation on the
Berlin bourse have kept money high at
Berlin. In Great Britain itself there has
been expanding trade and interior de-
mand for money beyond what has been
counted upon, and the call of portion
of the Japanese loan pinched the London
market In the face of these conditions,
when London saw the money rate in New
York holding high and very slow to yiei",
the speculation in securities came to
standstill, not only in London, but on the
continent and In New York.
The street railway strikes in Brooklyn
and Manhattan boroughs aroused some
anxiety as a possible symptom OF general
unrest among wage earners.
Dealings in bonds have been duh ana
some issues fell away in prices, but others
moved upward on active demand.
u. S. 3s registered and 5's advanced a
NO, cent, and the old As registered a per
cent. and the old As coupon y per cent. in
the bid price.