The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-10-22
FINANCIAL AND COMMERCIAL
SATURDAY, Oct Fl.

SATURDAY, Oct 81
There was today further development Of
strength in the stock market, despite bank
abatement described az unfayorablc. Only n
few Of tho stocks dealt in failed to show gains
The losses recorded were for the most part
tained by inactive stocks The dealings wero
on n fairly large scale. considering the brevity
Of the Stock Exchange session. and they wero
we'll distributed. The ruling quotation for call
money was . per cent, but some loans were made
as low as 3 per cent Sterling exchange was
dull and while the quoted rates wero unchanged
their tendency appeared 10 bc downward.
The bank statemcnt disclosed that money still
was moving to the Interior although in decreased
volume There was loss by tho banks Of ST.
$4,000 in cash They gained from tho Sub
Treasury Sl41, 800. that their loss in the regu-
lar course was 81 ,52O. 800. A contraction OF
IS $50 900 In loans with decrease OF 81, $40 900
in dcpositA permitted an increase OF S263, 700 in
the surplus reserve II was tho general belief
that the period Of unsatisfactory bank statements
had nearly. II not quite, reached It's conclusion.
The needs OF the South and West for money TO
move the crops were thought to have been fully
supplied. in which case the return flow OF funds
from those sections will set in While active
money is counted on right along. increasing
supply Is expected to avert abnormal rates Tho
prospect OF any disturbance in money from gold
exports seems to have been removed. The ex-
change transactions made necessary by the Cen
trail Pacific Railroad adjustment have been con-
cluded. much OF the short interest in exchange
has been covered and new exchange ought here
after TO DO created with some rapidly. The
scarcity OF sea room. with the consequent high
charges il for the time being restricting exports
Of wheat and cotton, but this is situation that
is not expected long TO continue Vessels will
be attracted from other waters by tho opportunity
TO obtain profitable cargocs
Sugar Refining led in tho trading in stocks
IL in large demand 10 cover short contracts
and advanced with celebrity. No change In the
sugar trade was reported. In fact in any
circumstances, disorder must continue in the
trade until tho end Of the year, 10 which time
the price guarantees by tho American company
and the independent refncries are effective. Glu-
coso Refining hchl It's place. There an active
inquiry for United States Leather on the under
standing that tho plan for the rcadjustmcnt Of
the company's stock issues would succeed. There
additional gains by both classes OF Amer
lean Lnseod the strength OF the company's
increasing earnings Steel Hoop moved UP on |
moderate purchases. The net result Of the bust
ness in Brooklyn Rapid Transit was n fractional
loss in price Metropolitan Street Railway and
Manhattan Railway advanced. Realizing 40
counted for Il recession in Pullman Palace Car
New York Central declined slightly. As gen
eral thing railroad stocks improved.
As compared with the final prices of last Sat !
urday, the majority OF stocks arc higher The |
more important net advances are In American
Sugar Refining per cent. Northwest :, y. y. |
Central A.. American Tobacco 4, atimore and !
Ohio S7s. Illinois Central and Metropolitan Street
Railway 80. each. Brooklyn Rapid Transit 81.
baltimore and Ohio preferred 81. Peoples Gas |
and Pullman's Palace Car each Pacific Mail
2'.. Tennessee Coal and Iron 2i, Pennsylvania