The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-10-13
MARKET NOTES.

Money is reported easier at to Z per
cent, but there is still apprehension that
the street is counting too much on the
relief expected from the anticipation of
interest by the government. Banks
have lost this week to the sub-treas
ury over 100000, and there is no in
dication of a let-up in this kind of alb
sorption
Some experts figure that pre- payment
OF government interest will not release
$4,000, OO0
There is more and more talk about
promoting Vice President Hall of the
New York, New Haven and Hartford,
to succeed President Clark.
Russell Sage, In discussing the money
market, says: 1.-THE situation in money
circles indicates a growing demand for
legltimate purposes. There need be no
expectation of unusual conditions I'M
less there is a revolution in foreign
money conditions. Out of present con-
dltions. one prominent feature has been
developed. Loans are being based upon
iirst-class collateral Only. There is no
disposition to lend upon what might be
termed trash for the sake of getting
good rate. have just been informed
That there are loans of about $4,000, 900
OF cheap industrials which have been
called and which must be replaced by
good oollaterals or they will be retired
from lending circles at once. In the
operation of placing the better grade
securities for those of semi-doubtful
character there is ground for belief
that the sound dividend paying stocks
VIII go to a higher price in the stock
market. In fact, l am inclined to be
pulllsh on the stock situation, in spite
of what seems to be high money mar
ket" ---''-
watson q Gibson--If history repeats
itseir, the stock market in London will
ADVANCE from now on, as it did here
arter declaration of war was made
by our government against Spain.
London-Consuls unchanged. KAT
mrs now higher than Wednesdays clos
ing. Yankees firm. No stock about.
Bank of England returns considered
good.
The enormous railroad business is not
confined to the big lines, as witness
Great Western, Minneapolis and ST
Paul and Wisconsin Central. whose
monthly statements show a steady in
crease from month to month.
one broker says: They say water is
Delng squeezed out in Planters" 1t was
declared that a prominent New York
man, hurt in B. r. T., had to sell Plan
ters.
At the moment there would seem 70
me absolutely no buying power behind
the low-priced coppers. The criticism
that the banks unwisely Disseminated
against these cheap copper stocks as
collateral may later prove to have pre-
vented severe liquidation, in that it has
compelled purchasers to take up and
pay for tho stocks bought. This fea-
ture is believed to be one of the strons
in f1n
ton.
The foresight of the MANAGEMENT OF
the New Haven road in making heavy
purchases of supplies early in the year
and before the big advance in prices
has, 1t is officially estimated, erected
saving to the company this year OF
over 100000 The roads business fol-
the current months considerably ahead
OF that for September, and its passen-
ger traffic in particular has made 4
very satisfactory gain
The subscriptions for the new bonds
of the American Bicycle Company
which have been received at the office
or WinsloW & Co., bankers, of this CITY
have been satisfactory in amount, con.
sidering the condition of the market
Script receipts were issued to subscrib.
ers yesterday, in place of the bonds
which will be delivered in the course
of a few weeks.
Wheat was a little easier this morn.
ing, and inclined to dullness, the adj
vance Of from IS to sd in English ca.
bles being considered as a matter OF
freight adjustment, and had very little
effect, although private Liverpool ca.
BILE reported the advance as due to the
American advance yesterday and t.
ensier consols. Foreign houses were
sellers, and the crowd at first seemed
to be playing for lower prices today
Closing Liverpool cables were Nd lower
than the top, but about Nd higher thar
| last night. Later in the session, whea
advanced suddenly over 1sc a bushel
the export business being the cause O.
the rally, with St Louis a good buyer
in fact, starting the advance. There
| was apparently large short interes
to cover, which caused a genera.
scramble in New York and Chicago
| Under present conditions. we can SEE
but one side to the market.-Howard
| Crosby & Co.