The times. [volume] (Richmond, Va.) 1890-1903, 1899-11-07
THE SYMPTOMS
OF WEAKNESS
Were EfectualIy Disspated by Course
Of Stocks To-Day.
PRICES FELL At THE OPENING
D,t Practically All Declines Were Re
lowered. aud striking Net Gains
We're Established over Con-
siderable List.

NEW YORK. Nov. G.-The course OF the
stock market to-day checlually dlssl-
matted the symptoms OF weakness whlch
tverI cugcudercd by the saturday BANK
statement The course OF prices was
downward in the early dealings. but
practically All the declines were recovered
and some striking net gains were eslaO-
ushed in a. considerable list or STOCKS.
The downward course proceeded TO the
extent OF l TO points in a number OF
prominent industrialS, ana reached as
much as "a point iu a number OF the rail-
roads including examples from the grang-
ers sOuthwcsterns. southerns, coalers
and trunk lines. Northwestern dropped
af one time ~. ia the lcadngs indus
trials "a level OF prices was subsequently
established reaching generally a point
above Saturday. he railroad group was
not SO resilient. but its downward course
Of the morning was very generally re-
traced. and fractional net gains are the
rule. In Southern Pacific the recent large
and organized buying was resumed after
the decline nad reached a, and Il was adj
vanccd Is and closed there. The specu-
lafiOn I'm Leather continued on an enor-
nous scale the prices being raised on
running sales OF 10000 shares AZ the
opening from IS below 70 - above Satur-
days price Subsequently the loss OF
SATURDAY was more than recovered ana
The price lifted 20 within shade of Al
There was heavy realizing I'm the STOCK
In the late dealings, but IL was hrlnly
sup |IlfN AI 10 Allt lfiAfM'A '.sFi'"tN
by the speculative pool In Leather had no
small influence In disspating the fears
OF a general brea. There were many
soothing explanations offered or the eN-
hibit of a dCtlcit in surplus reserves by
Saturdays bank statement. The faV-
orlte explanation among spectators was
that 60 was due TO an error in the re-
turn Of "a single bank, or rather TO the
recufcaton OF an error made IN the pre-
vious week IS return. IL was this error
so 10 was said which has caused the I'M
duly favorable statement of october 18Th
and the allowance for 81. which MADE the
showing Of the deficit OF last saturday
upset the stock market The comfort
found in this explanation was somewhat
disturbed by the rise in the call-mOney
rate TO u per cent, and the GAZING OF
loans by the banks But the CONVICTION
became general that Saturdays bank
statement was not a fair index Of the
actual condition Of the banks Inc con
tinued hardness Of New York exchange
81 important interior points aroused eN-
pectations that the movement Of money
Is about 70 turn i'm favor Of New YORK.
The shor contracts which were put out
in the morning were very generally COW
cred before the close.
The eve of the elections was also the
occasion for the covering of some short
contracts which had been put out on
the theory that this lsar's election might
be the prelude to the unsettled business
conditions which are looked for In presl-
dental year.
The drop in the money rate 10 . per
cent. late in the day accentuated the
Buying demand for stocks. An incident
OF the day was a sale Of United states
milking AT II. compared with - for the
last preceding sale. some time since.
Prices Of bonds only partly recovered
from the early decline in sympathy with
etocks Total sales par value, 100000
United States old As coupon advanced "a
in the bid price ..
The total sales Of stocks were 61O9Oo
shares. including Atchison preferred,
TIJO; Burlington. 1880; Colorado South
ern. B 200. Louisville and Nashville. 6.SOO,
Manhattan. ZLO3l; Reading first pre-
serred $3.50. Southern Pacific. $40;
DO preferred ESQ., American steel and
Wire, lLC1O. American Tobacco, 9lGO,
Brooklyn Transit 2j6IO; Continental To-
bacco $40. Federal steel, 1915, Pa
cinc Mail 600: Sugar Al 800. United
States Leather ISIS lS7, United States
Leather preferred, 1907.
MONEY AND EXCHANGE.-Mone on
call firm at 50l2 per cent. last loan at
per cent: ruling rate per cent; prime
mercantile paper, 0uJ4 per cent STERLING
exchange irregular with actual business
in bankers biis at 81 SA 04S7 for de-
mand and al 81 S24 a. 50 for sixty days;
posted rates. 81 S4Gf4SS. commercial bills,
AS2 Silver certificates, 6SlaQ59h; bar
SILVER. 5Sis: Mexican dollars, 47A Gov
eminent bonds firm State bonds inactive;
railroad bonds easier.