The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1899-10-21
5siuamciat.
THE STOCK MARK EFT.
Point of Great Interest Yesterday the
SpecuIation In Pullman.


SPECULATION In Pullman.
New York, Oct. 2O.-The point of
greatest interest in to-day's stock
market was the active speculation in
Pullman, which was rushed up this
morning after yesterdays sharp reac-
ton an extreme 81 points to 2o7ss,
record price. The motive was the Off
cial confirmation of the merger of the
Pullman and Wagner Palace Car COM
panies, which the stock tape has clear
ly foreshadowed for some time past.
| The published assertion that the Van
derbits are to get the Pullman holdings
of Boston and Albany and Boston and
| Maine stocks as an incident to the deal
| and that New York Central would thus
| gain control of New England railroad
| affairs, gave the bulls an opportunity
| for an active speculation in New York
| Central They lifted the price of that
stock an extreme 33s. The influence of
| this movement on the rest of the list
was marked, the other Vanderbilt
stocks of course moving most closely
in sympathy. The bears covered heav-
lily all through the list. The prominent
industrial specialties were most affect
ed, especially Sugar and Brooklyn
Transit, the dealings in which were
very large. The hesitation which had
been caused earlier in the day by
marked weakness of the Glucose stocks
and by sympathy of other industrials
was overcome by the strength of Pull
man and New York Central and prices
Of the railroads rose quite generally
above last nights level. The easing of
70 For CT i'm avoharpe
aged the rise but it gave way to profit |
taking in the last hour when the pre-
liminary estimates of the movement of |
money for the week appeared and the |
rate for call money stiffened to per
cent. The most active stocks reacted |
a point and in Pullman the reaction ex-
tended to nearly points. There was |
some rally before the close which was,
firm, and at small net gains for most |
stocks. The strength of the market, |
however,w was not widely distributed and |
in fact was almost wholly confined to
the few most active stocks The banks
gained slightly from the sub treasury
on routine operations by reason of con-
tinued large disbursements for govern
ment expenditures and on account of |
anticipated interest. But the outgo of |
money to the interior has been heavy. |
The weeks shipments by some large
banks have been the largest of the sea-
son. The net result is estimated by ex-
perts at loss in cash by the banks of |
well on to $2,000,000. The easing of the
exchange rate in spite of slight hard
ening in the London discount rate was
significant The threatened outgo Of |
gold to London may be averted but it
will be because of a higher money rate
here. Interior rates for New York ex-
change show no cessation of the de-
mand from those quarters.
The activity in bonds was somewhat
decreased and there was weakness at
some points. Total sales par value, ST.
470, 900.
United States bonds unchanged in |
bid quotations,
Closing Prices
Following are the closing prices reported
by Prince & Whitley, Bankers and Brokers,
% Broadway, New York, and Is Center ST.,
New Haven,