Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-04-10
Anticipated Fall in Prices Did
Not Occur.
BUSINESS On EXCHANGE
Is In a State of Suspended Animation
at the Present Ttme--One
Significant Fact.

New York. April 10.-The Times Lon
don financial correspondent cables: AL
though our market is not pfunging about
as yours is apparently ours has not fallen
in prices as it was anticipated. What is
going to happen l cannot quite say, so
much depends on you and from the CONT
nent. Everywhere credit is strained by
the speed with which new enterprises
have been placed on the market. All GEN.
ters of credit, therefore, require more cash
and the puzzle is, with most of them. how
to get it. In their efforts to come by
enough one or two of them will have to
endure considerable losses and what we
have to fear is that we may be drawn
into the vortex. Our dealers IN credlt
are accordingly nervous and try to pro-
tect themselves by working the rates of
discount up a little. AS yet they have not
been very difficult but we may get within
the neighborhood of the Bank of England
rate in another week should the markets
elsewhere not calm down. Brokers were
holding out for 21a per cent yesterday af-
ternoon on one months bills.
Business is in a state of suspended anil
nation on the stock exchange. Inc
Easter holidays interrupted 1t we
hav not really resumed. Everybody is
waiting to see how the settlement goes
off next week before beginning again. 1t
will be a difficult one, although you will
riot see such sensational rates for money
quoted in your London kilograms as
yours are to us. AS a matter of fact,
money has been at from six to 10 per sent
for years on many of our mine shares
and nobody has thought anything about
it. When one fellow was tired of paying,
he slid out and allowed the next man to
have his turn. But just now the difficulty
lies in there being no next man. The
markets are choked up with unsaleable
securities and we all are, in consequence
very tired. Therein lies our danger. We
can carry on and hold prices up as long
as no sharp pull is made upon us, but let
any other market stumble and put out a
hand to grasp for assistance here and we
shall have all the mob of overloaded spec
~ulators trying to escape at once.
1t appears as if the weaker the conti-
mental markets really become, the strong
er they seem to us. Not for years has
money been SO dear on the Paris bourse
as it was last week and the monthly set
t?ement time and | am assured that the
adjustment of accounts were attended
with no small anxiety in several dlrec-
tons. 1t made no differences to quota
tons or to the temper Of the French spec
ulators. A pause occurred because we
were ~holidaying, but on Friday Paris re.
surned buying and ran Rio Tintos sharply
UP to Al, equal to 461a for the old 10 pound
shares. They also bought South African
shares to a small extent and yet no mon.
ey market in Europe is in a more
Strengthened position.
One significant fact that proves Oul
market is likewise 20 be quite as heavily
burdened as is YOUR W with undigestet
capitaliZati0ns. is the reduction our mu.
inequalities nave to submit to in the prices
at which they can sell their new issues
II EiftaC3o rnnntrc nn tho CnJnOJatiON nj
Liverpool failed to place a 21a per CEN
/, loan which it offered at a minimum of SO
1t now comes forward with tWO-thirds o.
the amount then offered and asks only
931la. This is only one of the symptoms
that prove We have been going too fast