The times. [volume] (Richmond, Va.) 1890-1903, 1899-10-07
MARKET STILL
MOVES UPWARD.
The Movement Was Uninterrupted,
Except Near the Close.
MONEY ALSO FELL MUCH LOWER
Eight Per Cent. Being the Maximum
for Can LOanS-BOnds Continue
Firm and the Tendency of
Prices Was Upward,

NEW YORK. oct with the excep-
ton of some prout-taking sales IN the
last hour of to-day market, the move
ment OF prices was upward almost with
our interruption. The demand was not
large az amy time, but the supply Of
stocks proved small, even az the higher
prices. except in few cases. notably
southern Iacnc, which met large offer
ings at 5. The late break was led by
the Brooklyn Rapid Transit. which was
pressed down under the flood of offer
ings 20 81, an extreme decline Of 33s.
The prOft-taklng which was induced by
this weakness was most conspicuous in
Sugar ana Tobacco. which lost nearly
points each Of the extreme advance. The
initial impulse TO the rise came from
London where the easier money COndi-
tons and "a hope that a peaceful settle
meut OF the Iransvaal difficulty Is stin
possible, induced large covering by the
bears in all departments. London bought
stocks here TO the extent or upwards OF
1900 shares and showed a special de-
sire for Louisville which led the active
railroad list with an advance Of 1A after
an extreme rise of points. The maxi
mum rate for call money was per cent.
to-day. against - per cent. yesterday and
- per cent the day before. The rate
fell 10 4 per cent in the late dealings
This progressive decline in the money
rate was an implement IN the strength
Of stocks and has awakened expectations
Of GOOD bank statement tomorrow.
The expectation seems 10 he based on the
fact that tho banks are known 10 have
received 100000 in gold on pOstofice
receipts from Cuba and drafts from san
Francisco mint on account or klondike
gold deposited there. The gold engaged
last week I'm London also figures In the
expectations Of spectators, though 1t
VIII not be received until tomorrow, and
Will not figure in to-morrow's bank state
ment. As a matter Of fact, the New York
banks have lost on the interior move
ment. 40 far as known movements are
concerned about 100000. Operations
with the Sub-Treasury indicate a further
loss by the banks Of S2.SGl 600. Allowing
for the 100000 gold received tho net
loss in cash TO the banks seems 10 be
upwards Of So 500 900. The result may be
complicated by the effect Of money left
there By visitors to the Dewey celebra-
ton. which "a an unknown quantity.
The easier rates for money are largely
due 70 offerings on account of outside
banks which VIII be Of no advantage 20
the New York banks In their weekly
showing The relaxation In London dis
count rates to-day resulted in decline
~ sterling exchange ut Paris and Berlin
In strong contrast was the sharp advance
in the sterling exchange rate here. This
IS said 20 be due % covering by exchange
bankers. who have sold bills i'm antici-
patton Of a large outward movement or
cotton and grain. The Charterlng OF
large number OF vessels by the British
Government 10 transport troops, and the
resulting rise In rates for shipping aWak-
encd a Year that shipments OF merchan-
disc may he hampered.
The bona market continued firm. but
the movement in prices was upward. To-
tai sales ] $4,000. United states rs adj
vanced = and new As q in the bid price.
The total sales OF stocks were 4l1.3o0
shares. Including Atchison preferred 10