The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-04-30
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest of Exchange News-Mining Stocks.
Metal Quotations-Wool Prices and
Movements-Grain and Pro-
duce-Review OF Trade.

New York. April 29.-The market was
heavy all day and while number of ma
terial recessions appeared the general
railway list suffered but fractionally.
Metropolitan lost more than 5 points,
Brooklyn Transit and Consolidated Gas
nearly 4, Manhattan a point, but Third
Avenue was an exception, rising 2 points
on small dealings on expectation that the
company would bid for the underground
franchise.
The traders were early sellers in expec-
tation of bad bank statement, but they
covered when it appeared, showing small
| changes, the reserve increasing one and
a third million dollars and loans decreas-
| ing about half million.
| The absence Of commission business and
| the weakness of local stocks caused the
| market to ease off again. closing weak.
London was a purchaser of a moderate
amount of stock. Among the strong
| spots were Canadian Pacific and Colorado
Fuel, which advanced Az points and
| points respectively. Practically all the
ndustrials were weak.
| Stocks gravitated to a lower level this
week, with a considerably diminished out
side demand. and such changes as did
| occur were mostly in comparatively active
| stocks.
The gross weekly returns appearing for
| April show an increase in traffic. The dip
| lomatic strain with Germany owing to
the public remarks of certain naval Off
| GERS as regards the situation in Samoa
and the operations at Manila is practically
over.
| The money market showed strength in
!, 1pf
| Of May dividend and interest require
ments and the necessity of financing the
amalgamated copper industry next week.
| Sterling exchange was strong in anticipa-
| ton of London sales, particularly of Ana
| conda mines.
| The Spanish indemnity is yet to be ar
| ranged for, so that authorities believe
that the exports of gold are not antici-
| pated while call money rules in New
York at about double the London figures,
unless England should return to America
| other large holdings of American stocks.
The bank clearings decreased compared
| with last week, rejecting the fact that
! speculation in stocks diminished little
more than 100000 shares during the
| week, but the general business of the
country continued large and trade re-
| corded no expansion in the business of
| the country. Business in silver certif-
Gates. after a long period of comparative
| inactivity, rose cents to 65c, and closed
only 1c lower. The price attained for the
white metal was the highest in more than
| two years and the certificates traded in
| represented $4,000.
| The trading in Anaconda Mining which
made net rise of 121a points closed only
| at a slight decline below the best. the
| sales reaching nearly 100000. The trade
| in this stock was associated with the
| statement of the incorporation of the cop
per trust which was to embrace this
| company. If the trading in Anaconda,
| together with the trading, in the Green
| and several other stocks, be subtracted
! it will be seen that the trading was very
| narrow and that the standard shares
were very much neglected
Crop uncertainties. together with the
| decrease of s117000 in Burlington surplus
earnings for March left the grangers
fractionally lower. The professional ele-
| ment is largely bearish in certain stocks
| which have experienced an unusual rise,
| while the rank and file are generally dis
| posed to hold tenaciously to their stocks
| in the belief that the present market is
but halt and that bullish enthusiasm
will arouse stocks from their lethargy if
bountiful crops are assured.
For the week the iron and steel stocks
| were irregular to the extent of point or
so. Important changes not hitherto men
| toned are: Advances: Third Avenue, 10;
Canadian Pacific, 95s Minneapolis e. St
Louis, 5la; Minneapolis Il st. Louis Cd
preferred, Az. Declines: Metropolitan
S1a; Tobacco, Az Manhattan, AS; Della
ware & Hudson and Brooklyn Union As,
Az
Operations in bonds during the week
We're on a large scale and many of the
medium price issues made handsome ad-
| vances. The fact that several states have
laws impending or enacted permitting saw
ings banks to invest in certain high-c class
| railway bonds has tended to enhance the
| value of such mortgages. Speculation
| generally was strong and confidence in
| the absence of real, stringency in the mon
ey market forcing the employment of idle
| funds into mortgages which return fair
| rate of interest.
L. S. AS registered advanced u per
cent, the new As registered Il per cent
and the new As coupon and 3s registered
| Is per cent. in the bid price.