The daily morning journal and courier., 1899-10-03
H. C. WARREN & CO.,, 1O8 Orange St.
The Stock Market.

New York, Oct. 2.--The stock market had to face this morning the accumu-
 lated depression of three days trading in sagg1ng market In London while the exchange was closed here. The drop in prices at the opening was a wide one, numerouA railroad stocks showing a loss of apont or over and Tennessee Coal showing an extreme decline of seven points. The local trad CTS were inclined to feel that London was unduly depressed especially with reference to American securities, and they started to bid prices up again. The first loan of the day was made at per cent. and this encouraged an op- timistic view of the money outlook. The rally was short lived and the course was quite consistently downward for the rest of the day. A sharp advance in the coalers on the advance In the price of anthracite was intellectual to check the decline. London sold not only during the first hour, but as long as offices there were open for business. Liquidation from that source reached between 46000 and 50,000 shares. The violent decline in British consols had an important sentimental effect all though it was afterwards explained that this was partly due to the expec- tation of new issue. But the new
 issue is as significant of the practical certainty of war as any incident that has thus far occurred, so that the e1- pIanation did not afford relief to, the stock market.
 Long sterling was weak on selling against sterling loans. The local money rate quickly moved upwards when the renewal of loans carried over from last Thursday began to influence the mark ct, The call loan rate was carried up to F per cent, while the money market was still in full activity. It was then rushed up to 30 per cent, after which there were violent fuctua tions down to 10 per cent and up again to 8 per cent at which rate the last loan of the day was made. The closing was 90 bid and 35 asked. None of the expected re- lief to the money market wae in sight to-day. The developments in London lessen the probability of further gold imports and the condition of New York exchange at interior points indicates a continuance of the demand for funds from that source. The money left in the city by the visitors to the Dewey celebration was not in evidence in Wall street. though much had been made of this prospect of relief by the speculative The sub-treasury has gained nearly $1 100000 from the mark ct since Friday. Money seemed to be in supply at the higher rate from the proceeds of time loans made some time since. But the loaning resources of the banks are evidently exhausted at pres ent The decline in prices was made 1 without any evidence of demoralization, but last prices were the lowest. Net losses in the railroads are quite gener- ally between l and points, and the selling was well distributed through the day. Among the leading special- ties losses ranged from 2 to 5%. the latter Sugar
 The bond market was not active, but was weak in sympathy with stocks | Total sales par value, $1 ,2300OC.
 United States 2s and the 5s declined ! 1s per cent. in the bid price,
 Closing Prices
 Following are the closing prices reported " Prince X Whitely. Bankers and Brokers | ,2 Broadway, New York and 15 Center st, New Haven.
 Bid Asked |