The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-10-08
THE WORLDS MARKETS
Daily Record of Commercial and
Financial TRANSACTIONS.
NEW YORK STOCK REPORT
Digest OF Exchange News-Mining Stocks
Metal Quotations-Wool Prices and
Movements-G Grain and Pro-
duce-Review OF Trade.

New York, Oct. 1.-The stock market
was much neglected to-day the yacht
race proving the greatest attraction.
Frloes moved narrowly except in few
industrials, and the small traders had
the market all to themselves They bid
up prices after the opening In expectation
OF favorable bank statement. Prices de-
ciined when the statement appeared, but
there was no urgent liquidation and the
blddlng up OF Louisville to a point over
last night steadied the market The clos
ing was irregular.
Attempts to still further depress Brook
lyn Transit met with resistance and the
stock gained a point. Changes generally
are very small and mixed, but the major
ity were gains.
The bank statement failed to show
the large relief as a result of expenditures
by visitors to the Dewey celebration
which had been much harped upon by
spectators all the week. Not more than
million dollars Offset to the drain to the
inferior and the sub-treasury can be de-
tected from the bank returns The re-
auction in the reserve requirements by
reducing loans So, SOC, 200 was not sufficient
to offset the loss in cash and the surplus
falls to $685. 200. To-day's clearing house
statement shows the sub-treasury a debt
VI " tiat institution LOT $z,OSl, 49, Coupled
with the receipt of gold by to-day's in
coming steamers. this had the effect of
counteracting to slight degree the I'M
favorable statement.
Prices of stocks arrived at a condition
of stability during the week as compared
with the violent fluctuations for some
time past This condition represents the
adjustment Of values between the con-
hicting influences Of stringent money and
progress OF business. Pressure of liquida-
ton has not been heavy, even when the
money rates were highest. The amounts
loaned at the high rates. which were 40
PEE cent. on one day and IS per cent. on
another, were small proportion. and
were caused by eager bidding of belated
borrowers who had been dilatory about
supplying their needs from the early Of
ferings, hoping for a break in rates dur
ing the day.
The problem for the future is how much
farther the demand for crop movement
purposes will encroach on deposits of in
terior banks with New York banks and on
call loans of interior banks placed in
Wall street.
With the Bank of England's official
rate advanced to per cent. and weak re-
turns efrom the great continental banks,
no further hope is entertained of relief
by gold imports. Indeed, the conviction
Is general that any relaxation of the To-
cal money rate will result in a prompt de-
mand upon us by London for gold. The
movement of crops will continue to alb
sorb money for several weeks to come
and the United States treasury's surplus
OF revenue over expenditure will con-
tipue to take money from the open mar
ket unless means are taken to prevent 1t.
Bonds have been dull and have moved
in sympathy with stocks.
Y. s. rs declined A per cent, the new
As W per cent, the 5's rs per cent, old As
registered u per cent. in the bid price.