The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-10-25
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. 24-The stock market
was distinctly reactionary to-day in spite
of strong spots. Profit-taking was on
very large scale Sales on this account
were quite well absorbed and created no
sign of decentralization in prices. When
the fact of profit-takng became obvious
some of the room traders turned bears
and sold the market moderately. The
bear faction was not aggressive, however,
and made no great inroads upon values.
Neither were the bulls inclined to re-
sumo their campaign for the advance af-
ter having taken their profits and the
markets were inclined to drag during the
latter part of the day. Some attempt was
made to infuse strenth into the market in
the last hour by bidding up Union Pacific:
and Baltimore & Ohio preferred.
Business induced some slight covering
by shorts, but so far as a general resump-
ton of the advance was concerned the at
tempt was abortive. Prices were very I'M
steady at the close and in many cases
were pursuing a downward course. This
active realizing in the first hour was
much helped by notable accession of
outside demand which was attracted by
yesterdays sharp rise following a week
of stubborn resistance to all attempts al
and continued manipulation by section
Of the bull party served to wipe out pretty
generally the opening decline and bring
the market back to about last nights
level Having reached that point, the
downward course began with the eXcep-
ton of some irregular fluctuations. and
the market continued heavy below last
nights level for the rest Of the day.
Special points of weakness in the early
dealings were Sugar, American Tobacco,
Mailing preferred, Anaconda. Pullman
and Brooklyn Transit Strength was
shown all day by U. s. Leather, which
was taken in enormous lots and rose at
one time to 22a4. The closing was a point
below that. New York Central, after a
small fractional advance, met very heavy
offerings on the announcement of an adj
ditional stock issue of s15OOO,O 600 The stock
moved somewhat irregularly during the
day within range of a point below last
nights level.
The London market reflected some de-
preston upon this market and the I'M
dertone there was distinctly weak on the
uneasiness regarding the position of the
British troops in Natal. The suggestion
of the chancellor of the exchequer that a
tax on South African gold mines be look
ed to to help defray the expenses of the
war was apparently not relished by the
spectators in the mine market London
sales in this market were upwards of
The general weakness of copper mine
shares had a depressing influence on spec
ulation The weakness of Anaconda on
the exchange was supplemented by
break in Amalgamated Copper in the out
side market and by heaviness in Boston.
The hardening tendency of money was a
discouraging factor to the bulls. Most of
the days call loans were made above 6
per cent. and the rate rose to per cent
late in the day. Bankers generally asked
per cent. for time loans and were disin-
clined to put out their funds for the Lon
don periods. Rather less money was
shipped to the interior to-day, but the
outgo, while diminished. still continues
The sub-treasury is also absorbing funds
Realizing was in evidence in some por-
tons of the bond market, making the
price changes mixed. Total sales, par
value 81. 100000.
U. S. old As advanced a per cent. and
the new As and SIS "a per cent. in the bid
price.