The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-10-07
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
ACKNOWLEDGEMENTS and Pro-
duce-Review of Trade.

New York, Oct 6.-With the exception
Of some profft-taking sales in the last
aour of to-days market, the movement
Il prices was upward almost without in
corruption. The demand was not large at
any time, but the supply of stocks proved
:,r7all, even at the higher prices, except
i, few cases. notably Southern Pacific
which met large offerings at IS. The
re break was made by Brooklyn Tran
It. which was pressed down under a
f ood of offerings to 81, an extreme de-
{ Inc of 3Hs points. The profit-taking
which was induced by this weakness was
most conspicuous in Sugar and Tobacco,
which lost nearly 2 points each of the
extreme advance. @
The initial impulse of the rise came
from London, where the easier money
conditions and the hope of peaceful
settlement of the Transvaal difficulty in
duced large covering by the bears in all
departments. London bought stocks here
to the extent of upwards of $4,000 shares
and showed a special desire for Louis
vile. which led the active railroad list
with a net advance of l3 points after an
extreme rise of points.
The maximum rate for call money was
s per cent. to-day against u per cent yes
terday and 20 per cent. the day before.
The rate fell to 4 per cent. In the deal
ings This progressive decline in the
money rate was an important element in
the strength of stocks and has awaken
ed expectations of a good bank statement
tomorrow. The expectations are based
on the fact that the banks have received
4 $200OC00 in gold on account Of postoffice
receipts from Cuba and drafts from the
San Francisco mint on account OF the
<londike gold deposited there. The gold
engagements in London last week also
2 figure in the expectation, although it will
not be received until tomorrow and will
not figure in the bank statement. As a
matter of fact, the New York banks have
lost to the interior movement, SO far as
known movements are concerned, about
4 Sc, N0G 000 Operations at the sub-treasury
indicate further loss by the banks OF
$2.s61 ,oOo Allowing for the 100000 re-
ctived the net loss In cash to the banks
seems to be upwards of $35Oo,000 The re-
i suit may be complicated by the effect of
money spent here by visitors to the Dew
ey celebration, which is an unknown
quantity. The easier rates for money are
" largely due to offers on account Of out
N side banks, which will be of no advantage
M to New York banks in this weekly show
~ ing.
The relaxation in the London discount
n rate to-day resulted in decline in ster-
ling exchange at Paris. In strong con-
trast was the strong advance in. the ster-
ling exchange rate here. This is said to
b. due to covering by exchange bankers,
4 who have sold bills in anticipation of a
n large outward movement of cotton and
grain. The chartering Of a large number
OF vessels by the British government to
transport troops and the resulting rise in
ra;es for shipping awakened a fear that
shipping of merchandise may be ham,
ppred. ..---..
The bond market continued firm, but
the movement in prices was upward. To-
tai sales, par value, l,550, 900.
u. 8. IS advanced s per cent. and the
new As a per cent. in the bid price.