The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-09-28
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-Grain and Pro-
duce-Rsview of Trade.

New York, Sept 27.--The stock market
fell a degree further towards stagnation
to-day and the activity, such as it was,
showed an added tendency to a few spec
ulative specialties. Tennessee Coal was
relatively much more prominent than for
some time and registered decline of 61a
points American Tobacco showed the
continued effects of the pressure to which
it has recently been subjected up to the
time of the announcement of the decla-
ration of the regular dividends. The
weakness in these two stocks served to
hold back the market which showed a
tendency to advance from an early Pc
riod in the day.
Better advices from abroad made the
opening higher and the announcement of
an additional engagement of $750,0O0 in
gold in London for import added to the
convictions that the exchange situation
admitted of regular imports. The con-
tinued high price for money in spite of
the gold Importation served as a set
back to the advance, as was the case
yesterday. but late in the day rumors
were industriously circulated of the early
approach of gold imports on a large scale.
At the same time the money rate was
quickly offered down by successive stages
to 3 per cent, but before O'Clock call
loans had been made all the way from
T. to 20 per cent 1t was said that money
could be had at lower rates on some
high-grade railroad stocks, but the higher
range was that quoted on the stock ex-
change. Even on the higher grade of
collateral the margin required was wi
dened materially. Under cover of the re-
quirements and of what were called com
missions there was room for considerable
manipulation of the quoted rates. This
was true in the time loan market, in
which there was considerable demand for
short loans, as well as in the call loan
department.
Very little is doing in mercantile paper,
but rates are firm. Predictions of a IA
vorable bank statement tomorrow, upon
which date the clearing house institutions
are to make their weekly return, were a
factor in the firmness of the market.
The outgo to the sub-treasury will be
something less than half million dol
lars. Shipments to the interior have con-
tinued on a considerable scale. How far
they have been offset by small sums here
and there attracted by the high money
rate cannot be clearly estimated. So far
as the stock market operations are con-
cerned there has evidently been furth-
err contraction in loans. The character of
the statement will largely depend on
how far the demand for accommodations
in preparation for the Oct. ] settlement
has offset the contraction.
The movement of prices in the railroad
list was very narrow. Atchison preferred
enjoyed a belated demand on account of
its August statement and Southern Pa
cific rose quite strongly late in the day.
The stringency of the money market re-
suited in a decline in the sterling ex-
change rate in spite of the further ad-
vance in the private discount rate in Lon
don.
The bond market was without any spe-
cial feature, but was inclined to firmness.
Total sales, $1.O50O0o.
U. s. 3's declined Il per cent and the
old As 4 per cent. in the bid price.