The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-10-20
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-Review OF Trade.

New York Oct. 19.-The stock market
showed signs of continued strength dur
ing the early part of the trading and the
covering movement among large out
standing bear interest continued in active
force. The professional opponents of the
bears did all they could to take the mar
ket away from them by bidding up prices,
picking out individual stocks for that
purpose to increase the appearance of
strength in the market As the demand
from the bears fell off later in the day
the fact began to emerge that there was
no very eager demand for stocks among
the public at large and prices began to
slip downwards. The bears took renewed
courage and put out new short lines. The
fall In prices was considerably accelerated
during the last hour and the demand to
cover at the decline was sufficient to
cause only feeble rally. The closing
was barely steady and the earlier gains
were practically all wiped out
The fall in prices from the top reached
a point or more in large number of
prominent railroad stocks and in some
of the industrial specialties ranged from
one to over three points.
The railroads running through the
southern section came into some promi-
nence late in the day on account of the
general activity and prosperity of BUSH
larger increases in earnings shown by it's
railroads. Illinois Central, Louisville &.
Nashville. Southern Railroad preferred.
Norfolk & Western preferred and Chesa-
peake & Ohio all showed benefit from this
cause and the gains established were bet
ter maintained than at other points. In
dividua strength was shown in Colorado
& Southern LIST preferred, Tennessee Coal.
the International Paper stocks. Northern
Pacific, the Hooking Valley stocks. New
York. Chicago & St. Louis LIST preferred,
American Car, American Linseed Oil and
Chicago Terminal. Pullman reacted
sharply after it's prolonged advance, re-
ceding an extreme points and losing AZ
points net. Consolidated Gas fell Az
points, but partly recovered. The local
traction stocks and Sugar were sharp
sufferers in the late weakness. The reac-
ton was as much without explanation az
yesterdays advance, and could only be
attributed to the closing up of profess
sional operations.
Call money ruled at per cent. for most
Of the day. but stiffened to per cent.
before the close.
The coming bank statement is a subject
of surmise and observers are unable to
figure on any improvement. The move
ment of money to the interior shows some
falling off, but still continues in that d.
rection on balance, and the course of New
York exchange at several important
points continues downward.
The sub-treasury has taken more from
the banks and the applications for antici-
pated interest on government bonds have
proved entirely insignificant. With no
gain in cash resources from any source,
the" condition of the banks. could only
have been strengthened by further con-
traction in loans. The actual rate for
demand sterling went up 1ac to-day. Cot
ton blls continue exceedingly scarce and
the demand for exchange quite large.
This demand is attributed in part to the
requirements for remittance on account
of the conversion of Central Pacific
curities.
The possibility of gold exports depends
upon how much further this demand
shall extend. The rate for demand ster-
ling is now only 4c under that at which
gold went out earlier in the year.
There was a notable broadening in the
bond market. The tone is generally
strong. Total sales, s2.12O00O.
L. S. SIS advanced * per cent. in the
bid price,