The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-11-09
THE WORLDS MARKETS
Daily Record Of Commercial and
Financial TRANSACTIONS.
NEW YORK STOCK REPORT
Digest Of Exchange Nsws-Mining Stocks.
Metal Quotations-Wool Prlcss and
Movements - Grain and Pro-
duce- Review Of Trade.

New York, Nov. S.-The stock market
started of this morning in an apparent
" prosperous and animated career Of ris-
ing prices. but before the trading had
ceased this afternoon the early gains
were practically all wiped out and a level
Of prices lower than Monday was estab-
lished. Various considerations connected
with politics were an influence In the
early rise. Thus the London market was
encouraged by the more cheerful news
from the beleaguered British garrisons in
South Africa and prices of stocks were bid
up in that market. The Berlin market
was pleased with the report that Great
Britain had decided to relinquish her
claims In Samoa to Germany, and one re-
suit Of this was to prompt Berlin to buy
some American stocks In this country
the relief from the uncertainties of cleo
ton time and the hope of an easier
money market prompted some large buy
Ing of stocks, which lifted prices at the
outset. But there were large holdings by
professional operators which had been
bought last week on the faith that an out
side demand for stocks would develop,
and the first hour Of trading was devoted
to the selling of the holdings on a large
that the buying demand was not continue
ing in force the sagging tendency set in.
Efforts were made to sustain prices by
manipulation of special stock, members of
the iron land steel group and the prom
tnent high-priced industrials being con-
spicuous The violent break in leather
and the heavy selling Of Manhattan had
ansunsettling influence on the whole mar
ket and the stiffening of the money rate
and uneasiness over the future of the
money market completed the discourage
ment of the bulls.
The organized support which has held
= UP leather for several weeks seemed en-
tirely withdrawn and it was allowed to
drop by successive stages to %, compared
with 40 at the close on Monday. A sudden
rally In the closing dealings brought the
price back to 81. Manhattan had risen to
.a111M when the statement for the fiscal
year made its appearance, showing fail
ure to earn the Increased dividends paid
on account Of the addition Of stock by
margain Of $23s, 46o This carried the price
down to 17h. with a finally rally Of only
u. The industrials showed marked sym
pathy in this break and the level Of the
whole market fell below Monday.
. The general rally was but feeble. The
fall in sterling exchange rates was re-
Election of the hardening money market
here, but it gave no hope of relief by
gold imports, owing to the urgent money
! need not only in London but in all con-
tinental centers. There was evidence in
addition of renewed pressure upon New
York from interior points. New York ex-
change at Chicago falling from 10 cents
premium to par New York exchange at
New Orleans also fell to an additional
~ discount. s@ 4+
All The sub-treasury to-day showed a
credit balance at the clearing house Of
I, more than 100000 Hopes Of relief to the
New York money market from any quar-
3 ter fxere thus llissipated, but the last hour
saw an active liquidation of stockholdngs
with little demand to meet it.
Prices of bonds were better sustained
than those of stocks. but the days
changes were maintained. Total sales.
S248o, 600. U. S. new As and SIS advanced
u in the bid price.