Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-10-28
nHApsTnrrrs TISANcrAL REVIEW.
Increased Degree of Activity Accompanied
Further Irregular tiiss IN Prices,

New York. oct ~ uradstrccrs
Financial Review tomorrow will say!
"a fu.r dvsrgc uf activity ani au cu-
lnIggmcut uf public Interest iu spgculu-
tlun accompanied further though Doe
regular uac of prices thiH week This
movement was partly based uu the rg-
coycfy 0f the London market was 100 che
early days of the week discounted the
possibility 10 a speedy ending ~ tho
TriuaNuW war hy sharp advance Co.
which America rails shared the hlnoru
with lsuAlr mluCH.
"Thr somewhat easier tone OF money
also Influenced speculation ana Cuusld-
cradle RELIEF was shown whom 10 became
apparent that The recent rise iu for
clEn exchange rates was due largely Go
exceptional transactions w HccurltlCai
that no gold was likely 90 be shipped
o. London. ana that the Bank Of ENG
land ana the London money market
recognized that IL would De unwiH, 90
create any extra pressure uf disturb
ancc IN the financial situation here.
"Frted from this apprehension and
mcetirg Tor some days "a least with
decreased demands Tor the shipment ~
currency 10 the Interior. tho market Cor
call loans yielded somewhat. tho ratios
quoted uu last Monday being per cont
or less. The Increased activity ANA adj
vanccs lu stock prices ON the succeeding
DAYS were. however accompanied hy
rates Tor call money promptly rising 10
above per cent and on Friday after
noon touched 10 per cont
This was accompanied. however. by
continued evidences OF discrimination
against Industrial collateral by the
banks. The copper stocks In some lh-
staue having, 10 apopats been iscted
On bank loans, which can be- readily
understood 10 Wow of the woukncs1 on
that class ui securities. Yet the stock
market was To AN appearances more
impressed by the talk ~ % speedy re-
turn uf money from The interior 60 Ncw
York. ana 10 might Doe observed that
large bids were received for thc,f2 .sO1.-
900 uf New York city 80 per cont bonds,
which We're offered this week the aver
age " the bids being over ioi
"rht money situation was also lnnu-
oncCd by the favorable statement nf the
Bank ~ England and the further de-
cline OF discounts 10 London, The inter-
est rates therefore. ala not materially
check the hulllsh feeling, though tho
Industrial stocks were held In check by
the restrictions which the lack % facil-
tiles for carrying them Impose, AZ the
same time Wall street fully recognized
the importance, from an Industrial
standpoint uf the plnclug of contracts
for 100000 tons OF steel rails 90 the
recent advanced prices deliverable
through the year 1909. thus inanriug
iNN NNAINlAN NNN NNNNNNNlf NNhNNN OF
the steel Industry OF the United States
for another twelve months.
"rhcrr has boon not q little fresh out
slide buying nf stocks even ln the better
class NJ lrduHuinla, and commission
houses wor more 0f "a factor In the mar
ket. At the Same time the upward
movement seemed To- depend FOR pure
chasing power on covering by the short
Interest. supplemented boy some renewed
London huylug ana by the hulliHh
manipulation which pools and large
operators carried on In various parts OF
the stock list"