The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-11-18
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, Nov. 1.-THE stock mar
I ket had to absorb very large volume
of selling to take profits on yesterdays
rise during the early hours of to-day's
trading. The tone of the market for the
rest of the day was rather fiat in spite
of aggressive strength in few promi-
nent stocks and advances by number Of
rather obscure stocks. The profit-takng
was especially noticeable in Southern
Pacific and Union Pacific and held those
stocks under yesterdays prices for the
greater part of the day. The buying in
both of them was, nevertheless, on very
large scale, blocks of 1000 shares and
N upwards of Union Pacifict making their
\ appearance frequently in the record. The
most conspicuous movement of the day
Z was In the Baltimore & Ohio stocks the
1: preferred leading. Its extreme advance
was 21s, the closing being nearly at the
8 top.s The common stock added ~ to its
4 price during the day. The various metal
stocks had a period of strength. Other
wise the market was rather irregular and
disposed to reaction until late rally,
which wiped out many previous losses.
The grangers were conspicuous in the
8late movement, led by Burlington, which
d. rallied an extreme rs. Isolated move
ments Of Importance were advances in
I5the Buffalo, Rochester and Pittsburg
stocks of 3 points for the common and
HE points for the preferred. the latter re-
acting 8 points. Mailing lost 31a points.
Y The hesitating tone of the market was
!. due to a recurrence of anxiety over the
showing to be made by to-morrows bank
statement. This was acceptuated by a
Late stiffening of the call loan rate to 0
per cent. on demand from belated bor-
rowers to carry over until Monday. The
earlier rate had been per cent. and fell
!. as low as per cent.
tEE The sub-treaSury paid out to-day about
: 81, 600. 600 for bonds offered for redemption
; and the sub-treasury's debit balance at
the clearing house reflected its pay
ments for the same purpose yesterday,
the amount being 49, 351 $40. But these adj
ldtions to current supplies, coming late
I in the week, will have a diminished effect
on the cash showing of the banks, owing
Ito the system of averages. The net result
of sub-treasury operations other than
these Is small. 'F
4 The interior money movement by eX-
press and sub-treasury transfers. how
ever. resulted in cash net loss to the
banks of s1,000.000. The heavy loan con-
traction for the latter part of last week,
however. will be partly reflected in this
weeks statement and will help to reduce
1.-THE reserve requirements.
Apparently there has been some ex-
spansion of loans during this week by
the banks with the inflow of funds. The
pet result upon surplus reserves is thus
very difficult to estimate. Sterling ex-
change made further progress upward
to-day and served TO add to the appre-
5hension that any actual ease Of money at
this center would lead to demand for
gold upon 1t abroad. Discounts in Lon
don and on the continent were somewhat
easier and the course of the interior ex-
change in this country was in favor of
New York London sold stocks on bal
ance in this market The demand for
: some of the low grade and organization
bonds continued to-day at advancing
prices. Total sales. par value, $2,375.00O
u. S. new As registered advanced y
per cent. in the bid price