The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-09-09
THE MARKETS.
Wall Street Review.

New York, Sept. S.-Considerable stock
was thrown upon the market today as
result OF the fears between Great Britain
and the Transvaal, ,and the condition of
the local money market was n continued
cause of uneasness The market took
the offerings very well and so no very
wide brecches were made I'm prices. First
prices OF number OF the internationals
were the lowest of the day, notably Kan
sas and Texas preferred and Norfolk and
Western preferred, which fell II and 1
| respectively. Declines were not down to
the London mark as "A rule and vigorous
support was forthcoming at the decline.
Kansas and Texas preferred and Norfolk
preferred recovered their losses and there
was a rally all along the line. Near
noon there was renewed weakness on tho
| circulation of alarmist rumors regarding
| the outcome of the British cabinet meet
Ing. The general level of prices fell low
| er than on the opening. There was a
| movement to cover short contracts when
| authentic reports were received of the
| better feeling cngendered in London, at
ter the cabinet meeting. About the same
| time Manhattan was taken in hand and
| marked up over two points. Metropoli-
! tan Street railway, Sugar and Brooklyn
| Transit rose simultaneously with the gen
| eral level of prices rose large frac-
| tion, sufficient in many cases to wipe
| out earlier losses. There were some sub
| sequent wide movements i'm special stocks
| but the general market continued quiet
| and dull and prices were not again ma
| terially changed. Tennessee Coal rose
| aggrcssively to III i'm the final dealings
| and Manhattan touched 1t6, the special
| ties generally showing some response.
| Pacific Mall suffered q loss of nearly 4
| points on the statement of a decrease i'm
| July earnings, but rallied afterwards.
~
| were Tin Plate, American Hoop, the To-
| bacco stocks, Third avenue, Metropolitan
| West Side Elevated preferred, Leather
| preferred and National Steel, and among
! the railroads Erie first preferred, Colo
RADIO and Southern first preferred, North
western, Omaha, Lackawanna, Hooking
| Valley preferred, Fort Worth and kio
Grande, and Pittsburg, Cincinnati. Chi
| Cago and St. Louis preferred. The light
ness Of the money market was unrelieved.
The time loans were held at per
| cent. and call loans for the most part
ranged from and up to per cent. The
| late fall in call loans occurred after the
needs of most borrowers had been met
and was without significance. A further
decline in surplus reserves in tomorrow S
bank statement is a foregone conclusion.
| The movements of currency by express
| indicate a net loss to the interior by the
banks of over 100000 and the sub-treas-
ury has gained from the banks, includ-
| ing payments for taxes and deposits for
/ telegraphiC transfer to the interior, S5,-
! $4,000. No set off is apparent against
this loss of cash of upwards of $500, 900.
Sterling exchange in New York fell a
sharp fraction this morning in spite of
| higher discount rates in London but the
bankers rate for demand sterling partly
| recovered i'm the afternoon. The recent
! firmness of sterling exchange is attribut-
ed to a demand for bankers bills to cover
short sales made against cotton bills.
! Total sales, 437700.
The bond market showed a yielding ten
dency on a moderate volume of transac-
| tions. Total sales par value, 100000.
| L. s. bonds were unchanged on bid quo
tations.
| Quotations furnished by J. \. RUS