Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-10-18
REVIEW MARKETS
FINANCIAL And COMMERCIAL
Stocks, Money, Exchange, Bonds, Grain,
Cotton, Provisions, Etc.

S New York, Oct. lT.-Ihere was
short lived demonstration by the bulls
in the stock market to-day, but be-
fore trading was suspended the early
gains were largely curtailed and in
some cases more than wiped out. The
strength was attributed to various
causes. The temperance this week
upon the floor of the exchange OF seYe-
raj operators who took a large part IN
last springs big bull market and VINO
have been awny ION long summer yaca-
tions, gave something of q fiillip to
buuish sentiment. The quiet tone of
the money market yesterday IN the
face Of operations incident 10 the
change Of old Central Pacific securities
for new encouraged some sentiment for
o rise.
There were one or two stocks In the
list which were notably strong from In
tiividual causes, which was rumored
. but not authoritatively disclosed, and
: which helped to sustain prices. Among
these were Pullman and Great North
ern preferred, although the latter more
than lost the early gain. The Baltimore
and Ohio stocks were conspicuously
strong, the common rising an extreme
~ and the preferred q LcClede Gas
continued It's advance and reached as
high as so.
The Changers, Louisville and South
ern Pacific were quite we'll taken early
in the day, apparently by pool Inter
ests. The public was not in evidence at
any time during the day.
Call money continued at 6 per cent.
or below in spite of the fact that many
banks report their cash still below the
legal reserve. But while the money rate
did not tighten a number Of industrial
stocks, especially those classed as
green In Wall street parlance, show
ed signs OF weakness. MS might happen
&c they We're subjected to discrimna-
zion by money lenders in the shifting of
loans. The Glucose stocks were notably
aHected, the common dropping nearly
eight points and closing near the low
est, while the preferred lost 31s Iron
anu steel stocks as a group also weak
ened simultaneously, Steel and Wire
leading with All extreme decline of ~
Others of the group suffered TO the ex-
tent or between l and 9 points. This
unsettled the bull movement and wiped
out pretty much all the gains which
had been established. Prices struggled
upward again IN the final dealings to a
level for the most part slightly above
last night. but the snap seemed taken
out Of the movement. There was a
warning rally in the rates for foreign
exchange during the day, which was
not needed. Signals Of distress were in
evidence in the German money markets
and sterling exchange fell sharply at
the Continental centers. including
Paris. Discount rates i'll London re-
sponded with an advance, and exchange
rates here both on Paris and London
rose In sympathy. Add to this the fact
that money is still going to the interior
IN considerable volume, that Govern
ment payments through the sub-treas-
ury are again falling off, promising n
renewed decline In the money market
on account of the revenue receipts and
that applications for anticipated pay
ments for Government interest continue
on small sca1e and the outlook for
easier money Is not promising. This
consideration was sufficient to give
pause to the efforts to advance prices.
The bond market was moderately ac-
tive and prices improved. Total sales.
par value. 81, 005 00O
United States bonds were unchanged
In bid quotations.
Total sales of stocks were $4,000
shares.