The times. [volume] (Richmond, Va.) 1890-1903, 1899-11-01
STOCK MARKET
OPENED WEAK
News From Ladysmith Had OemOr-
alzing Effect.
CALL MONEY VERY fEVERlSH'
The Ranks Called Loans on an Tx
tensivc Scale, But the Closing
Was Firm at Small Net
Losses.
CALL MONEY VERY FEvERISH.

N-r1v YORK. oct 3i.1Prices Of stocks
yr, ~ Inc onfnlng to-day under the
welrlt OF selling for London account
Thc market at that centre was ih sld'c
OF sfmi-demoral2aton on the news OF
fl. loss of "a considerable force OF British
fro1pe bv capture from Ladysmith. The
sales for foreign account I'm New 1oIh
r.u up 20 nearly 5000 shares. me re-
fuifinF loss iu prices reached q point or
more I'm several prominent stocks, nola-
hly among tho southern railroads, when
have been recent favOritc5 for rise.
Tho experience of Yesterday lelt no one
disposed 10 buy stocks. ana the London
oHcrinqs were poorly taken Aciye sell-
irr of some of the prominent stocks added
% the weakness. After the opening de-
cline however. some support was iortn-
coming which seemed 90 be based on the
hope OF a relaxation in the money strin-
rency but the quotations for money az
~ and 20 per cant again turned prices
downward The speculative liquidation
so.wo1 to he concentrated about noon
auI there was some rccuperation during
the latter part of the day which was en-
courared by strong spots in the list
Tho iron and steel stocks became cspe-
cially prominent led by Federal Steel
Tho strength in this group was attrlD-
utod t0 a demand from "a large outstand.
ing short interest. The rise in Fedcial
steel reached OK and IN steel ana WIRE
.e. There were sympathetic advances in
National Steel American Tin Pate.
American EflIffIIfIE anu NlalfA AA'iN tNIt.t
steel shares running from lllclluh 10
.f the latter National steel There was
good covering demand for number
~ other prominent spcclaiues, ana lle
railways especially those in me southern
group retrieved good part OF their ealiy
losses The Wisconsin Central new stocks
were conspicuous for am advance or about
1i, above last nights level me market
closed firm generally no small net l9sSe7.
Tho CaN money was very feFeflsh an
dav rccodfnr several times. but TecoN-
crinr violently and suddenly. the lasl
loan was m per cent, the low leNel ana
the rate ranged above that 70 80 per cent;
the demand being apparently urgent anu
large Loans were called by the banks
ou am extensive scale The demand Tor
time money was good. and lenders de-
The extension in loans IS attributed 10 the
ISL OF November settlement and also for
payment OF subscriptions % some new
Industrial commissions. The rate for
sterling exchange declined further in re-
Spouse 90 the stIT money rate, ana WITH
out regard t0 dee hardening Of the money
market iu london New York exchange
Of some southern points Weakenel shalp-
d. and the Sub-Ireasury was a creator
at the Clearius- house to-day by the extent
of $4,000.
Tile tone of the bond market was better
than that of stocks and number OK
middle and .oW-Il ie NOR s'tes were ll
good demand. Total s-i par va.ue'
sd 10000 United States bonds were un-
Toul sales % stocks were 5fIloO h8rcs.
including Afoh.aon D'''. ho. pIIl.ii
$500. Chicago. burlington ana ounce
14rnl. Louisville and Nl nFIUe. 1880
Manhattan 2l 500. Aleeuur- Pacific, ID
r-o. Norfolk HUI Western, i1fht NofIl-
Tu5. ST. PAUL. 9IaNt southern Idcinc'
1r1ql. Southern railway. 1910, southern
railway rrofffral. 2HIIu. Union racine,
1873. American Steel ana WIRE ia