Arizona republican., 1899-09-16
Fear Effect of TranSVaal Crisis
 on Speculation.
VALUES ARE CALCULATING
Wall Street Uncertainty Is parfIy Attributable 10 Apparent Loss in Bank Reserves Of about Eiahf Million DOIIarS-The Closing of inc narkef Was Rather Dull and Irregular.

New York, Sept 15.-Considerable day as a result of the fears between
 Great Britain and the Transvaal. and
 the condition of the local money mar
 ket was continued cause of uneasi- ness. The market took the offerings very well and so no very wide breaches were made in prices. First prices of a number of the interna-
 tionals were the lowest of the day, no-
 tably Kansas and Texas preferred and Niorfclk and Western preferred. which fell 3-8 and l, respectively. Declines
 were not down to the London parity
 as a rule and vigorous support was
 forthcoming at the decline. Kansas and Texas preferred recovered their
 losses and there was a rally along the line.
 Near noon there was renewed weak ness on. the circulation of alarmist ru- mors regarding the outcome of the British cabinet meeting The general
 level of prices fell lower than on the first dip. There was a movement to cover short contracts when authentic reports were received of the better feeling engendered in London after the cabinet meeting. About the same time Manhattan was taken in hand and marked up ever points. Metro politan Street railway, sugar and Brooklyn Transit rose simultaneously The general level of prices rose a large fnectis-4.<sRs---II. .1.e te--..a4se ..s..y e4ses 10 wipe out earlier losses.
 There were some subsequent wide movements in special stocks, but the general market continued quiet and dull, and prices we're not again ma terially changed. Tennessee coal rose aggressively to IF in the final deal ings, and Manhattan touched 116, the specialtfes generally showing some response Pacific mail suffered a less of nearly points on the statement of a decrease in July earnings, but rallied afterward. Other stocks to show acute depression were tin plate, Amer ican hoop, the tobacco stocks, Third avenue, Metropolitan, West Side Ele- vated preferred. and National steel and among the railroads Erie first preferred, Colorado and Southern first preferred, Northwestern, Omaha, Lackawanna, Hooking Valley pre- ferred, Fort Worth and Rio Granda and Pittsburg, Cincinnati, and St. Louis preferred.
 The tightness of tlia money market was unrelieved. The time loans were held at per cent and call loans, for the most part, ranged from up to per cent. The late fall in call loans oc- cured after the needs of most borrow CTS had been meet and was without 
 A further decline in surplus reserves in tomorrow's bank statement is foregone conclusion. The movements of currency by express indicate a net loss to the interior by the banks Of over $S.O0O,O ,OOO, and the has gained from the banks, including payments fer taxes and deposits for telegraphic transfer to the interior, s5,536, ,O00. No seton is apparent against this loan of cash of upward of sS,50O,OOO.
 Sterling exchange in New York fell a sharp fraction this morning in spite of higher discount rates in Lcndon, but the bankers rate for demand sterling partly recovered in the after noon. The recent firmness of sterling is attributed to a demand for bankers bills to cover short sales made against cotton bills.
 The bond market showed a yielding on a moderate volume of Total sales, par value, s2, ,O1O, ,0OO.
 United States bonds were unchanged in bid quotations.
 MID EDRn RN nKNGHNG