The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-09-27
MARKET NOTES.

! According to dispatch from Chicago
the gross increase of the Atchfson earn
lngs for August will be about $500,000.
One of the large traders said: THE
fact that the market did not rally when
! Brooklyn went up four points was a
| danger signal 1t meant that there was
no public to follow bull lead and that
the traders were afraid of the market.
10 my mind the market foreshadoWs
| lower prices more clearly than it often
| does. 1t doesn't look like a break, but
more Ike sagging.
The present week is likely to witness
especial dizziness in the money market
In view of preparations for Oct. 1 dis
oursements very few people are liable
10 appear as borrowers, if it can ne
avoided
In face of the firmer conditions. it is
| interesting to note that the local de-
mand for money is small outside Of
STOCK commission houses. There is not
the usual amount of paper making that
we are accustomed to see at this season
OF the year. No western paper to speak
OF IS offering, as western borrowers can
DO better at home than here Collateral
loans are not in heavy request at pre-
vailing rates for money.
The rather high rates for money
touched Monday in New York were an
unpleasant surprise to the street, The
money situation is a little complicated
this week by preparations for October
disbursements, which will have to be
MADE Of necessity in the next three days
IN view of the double bank holiday.
The government disbursements nave.
oil course, been made already, but luite
a good deal of interest falls due in 9th
er places on the last of the month
which presumably will be abstraclet;
from the money market for a short time
at all events.
This final payment on the $4,000 shares
OF Centennial Eureka Mining COMPANY
STOCK has been made by the United
states Oil people, calling for 81, 4S6, 900.
ana the stock is now in Boston The
payment represents the balance of SOS
per share due on the stock, 81 per share
or lc per cent having been paid wuan
ire option was secured on the block. of
the remaining 5000 shares of stock out
standing 1860 shares have been placed
IN escrow with w S. Mccormick & Co.
bankers, at Salt Lake City. On this
stock the 10 per cent has been paid and
the total amount, or $40 per share. will
De paid for the same when the out
ed
Leonard Lewiston, the New York
metal broker, in discussing the copper
situation says: THE market for CON
per is in splendid shape. The compara-
livery nigh price has not cut any figure
IN consumption beyond a lessened de-
manc for sheet copper for building pu1-
poses, and the whole constructive de-
mand from this source Is only 32. 600 O00
pounds year, SO that if this should ian
on 100000 or 100000 pounds it would
not be serious feature. For electro
lytic purposes there is no falling off and
there is not likely to be. The General
Electric Company has so many orders
It hardly knows what to do, and all The
brass manufacturers of the Connectic,It
Vaiiey nave orders months ahead Of
thelf ability to produce. 1t is manifest
~ unjust TO pick copper out as the one
product IN the metal list that has ad-
Vanced. All metals have experienced
the same strength and for the same
reason-demand and SUPPLY
There are plenty of bull factors in >he
| situation. No one denies that. and thew
Wall control prices in the long run. buf
the stock market is moved up lust nov
by the condition of the money marker
Inc country is prosperous enough. but
the prosperity is calling for more ey-
tenslVe use OF money. In order to get
money borrowers come to Wall stroef
with their securities, upon which thcv
eltner seek to get a loan or upon failure
TO get a loan sell their securities If tfnv
can. - siAes
There is a readjustment going on IF
Values to the money basis. Some in
terests who have not had sufficient fore
slght TO prepare for an emergency Of
TINS sort are now forced to make irnn,e-
dlate sacrifices in liquidating accounts