The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-11-11
THE MARKET ELSEWHERE.

New York, Nov, 10.-The early part
Of the day in the stock market was
given up to the throwing over of stock
holdings which was in evidence yester-
day The liquidation was on large
scale, and embraced all departments
Of the list. The more highly specula-
tive industrials showed the widest
changes, but the selling of the standard
falifoad stocks was fully equal in
amount There was no stock or group
OF stocks which took a conspicuous
place apart from others, except the Iron
ana steel stocks, which were somewhat
nrmer than the general list. The same
might be said of Northern Pacific and
Union Pacific. The declines exceeded a
point Tor many standard shares. and in
many cases reached upward of two
points Leather. after a break of five
points, rallied somewhat, and retired
into the background of the trading.
transactions being small in the remain
der OF the day Sugar and Manhat-
tan were rather weaker than the bal
ance of the list, but they rallied with
considerable yigor. The latter part of
the cay was given over to a gradual
and very general recovery of part of
the earlier declines, on a much dimin-
ished volume of trading Most of the
leading railroads rallied a large frac-
tion, and number of the specialties
between one and two points.
Considerable, of the money outlook
continued to dominate sentiment on
the stock exchange. The banks CON
tinued to call loans for large amounts
the rate for call money opening at l;
and running up to Is per cent Large
amounts Of stocks held with borrowed
| money were thrown upon the market
After each successive period of liaui.
dalton, the market fell into a state OF
designation. During the after.
noon the rate for call money dropped
off as low as three per cent, and the
demand for stocks developed The
usual preliminary estimate Of the
weeks cash movements showed 9
rather smaller shipment to the interior
than had been estimated, though the
| loss to the sub-treasury of So, 600 00(
was UP to anticipations.
The weeks net loss in cash is figured
| at over 100000 from all causes. The
easing in the money rate late in the
| day served to ameliorate the dread thai
tomorrow's bank statement would show
| an increase in the deficit
The loan contraction during the week
| has been the largest. There was
rumor on the floor of the exchange thai
| the banks resources had been in.
| creased by means of cash deposits by
institutions in New York city, with
view to relieve the situation This ru.
NOR could not be traced to any authen.
| tic source, but affected sentiment or
| the stock exchange, and inclined spe.
culative opinion to look for another
surprise in tomorrows bank state.
ment.
The stiff money market resulted in &
| further drop in sterling exchange rates
which was assisted also by buying
| stocks here for London account, esti
mated as high as 10000 shares.
| New York exchange at Chicago rose
again to part, but at New Orleans tht
! exchange continued to run agains
New York Prices of bonds moved il
| sympathy with stocks early in the
| day, but failed to respond to the late
! recovery.
Total sales, par value, $3.50, 900.
United States 3s advanced 4 and ole
As registered Is in the bid prices.