The times. [volume] (Richmond, Va.) 1890-1903, 1899-10-17
MARKET SHOWED
FIRM UNDERGONE
The Day Ended With a Vigorous Up
ward Movement.
MONEY RATE LOWER IN LONDON.
This Fact Had a Good Influence, as
Did the Showing Made by
the Bank of Germany
Berlin Discount
MONEY RATE LOWER IN LONDON.

NEW YORK, oct 16-Thc stock mar
kct showed nTm undortOne all day, and
ended with "a vigorous upward movement
I'm progress in number OF The prominent
stocks which showed a reactiOuary ten
CcnCy and made the closing firm. Net
gains exceed point in only a few cases.
Tho principal activity Was ln the pronl-
nent speciaucs. Brooklyn Transit con-
tnued 10 attract a large share of atlen-
ton. There were renewed efforts TO de-
press the stock, but the support was too
strong and it ended the day at the top
price above So. Sugar and Tobacco, the
latter selling cN-QiFidend, rose at one
time . points each. but did not save all
their gain Great Northern preferred
and Pullman continued their recent show
of strength. the former rising and 81
net. IuNman's extreme rise was So and
its net gain p Metropolitan. Consolidated
Gas and Third-Avenue were strong. but
the latter lost all Its gain. Southern Pa
cinc was the leader Of the late rally,
after falling TO So. and was marked up
vigorously TO 373s ST. Paul attained a net
advance Of point. Baltimore and Ohio
stocks were both strong.
LoRdous active dealings here were very
small. but the hrmness of stocks there
and the lower rate for money In London
had a sentimental influence here. So had
the good showing made by the Bank OF
Germany. The rise in the private dis
count rate I'm Berlin, however showed
that the banks recupcraion was made
at the xpcnsc of the open market. The
decline in discounts I'm London was re-
Elected In an easier tone for sterling eX-
change rates. both In New York and al
continental centres But higher money
dates are expected I'm London. and that
expectation is a factor ia the speculative
outlook here Money rates mere continued
rather easier. call loans ruling az q per
cent or below There was less demand in
the call loan department, and IL Is assert
ed that stock operators nave PROVIDED
themselves to- some extent by borrowing
money on time. The amount of money
dishurscd by the Sub-1reasury on inter
est account to-day. according 10 preHmi-
nary estimates. did not exceed $4,000
This included not only the anticipated
interest of November LIST, and for the hs-
c1l year. but also a considerable sum Of
1rerdue interest which has not been
Stained hitherto. This factor. therefore,
was not a large one I'm the easier tone
Of the local money market. Ine SUD-
Treasury however. had debit balance
OF over million dollars at the clearing
house ON account Of payment of Govern
mcnt obligations. NO drain SIS apparent
thus far from tho banks into the Sub
Treasury on account of routine operations
this week Deposits at the SuD-Irea'ury
for telegraph transfers 20 other points
shows that the interior demand for money
Isl not yet satisfied
The bond market continued moderately
active and some of the southwestern is-
eues moved upwards Otherwise declines
were the rule Total sales par value,
S1.7T5Om United States 2's advanced ",
but the 3s declined rs in the bid price
Iotai sales Of stocks We're 393.7oo shares.
Including AtchisOn preferred 900. Chi
caro. Burlington and Quincy. 5000. Man
haitian. $40. Louisville and Nashville,
$50. ST Paul SG32. Southern Pacific.
1890. American steel and Wire. 700;
American Tobacco. $3.50. Federal Steel
g. 455: Sugar, J2,9fI.
MONEY AND EXCHANGE Money on
can steady no 900 per cent. last loan
at AZ per cent; prime mercantile paper.
E1tTG rer cent Sterling exchange easier.
with actual business in bankers bills at
81 81 ,a4 S54 for demand and at 81 s2i m
Z sos, for sixty days. posted rates, 81 S3l2
GAeT1s. commercial bills. SASH. silver
cerfiacatoe 5Sft0Iq. bar silver rs. Next
1.rr.... Government horIa irrou-