The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-09-22
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest OF Exchange News-Mining Stocks.
Metal Quotations-Woo Prices and
Movements-Grain and Pro-
duce-Rsview of Trade

New York, Sept. 21.-The tone of the
day than for some time past. Not much
pressure of forced liquidation was OBJ
servable as was the case yesterday and
several preceding days AS result there
was a very general and substantial re-
covery in prices. There was a large de-
mand from the extensive outstanding
short interest, and probably this consti-
tuted the principal element in the recov-
cry. but there was also a very good alb
sorption of some of the railroad stocks,
which had the appearance of coming
from large interests which were satisfied
to take stocks at the present level.
Brooklyn Transit continued to comprise
large proportion of the dealings and 9TH
er members of its group had an import
ant influence in the recovery in prices.
revised Interpretation of New York's new
franchise tax bill, which would be less
heavy on corporations than had been ex-
pected found general acceptance among
spectators. The enormous selling for
some time past of Brooklyn Transit gave
color to some current rumors that the
control of the property had changed to
new and strong hands. These two influ-
ences were effective in relieving the To-
cal traction stocks from the fierce at
lacks to which they have been subjected
for many days past and removed from
the situation the most potent element of
depression.
The bears made some effort to contest
the advance and they found vulnerable
spots in Peoples Gas Sugar, Tobacco and
Tennessee Coal. But their success in af-
fecting the general market was very
moderate and their efforts to cover in the
very stocks which they had attacked
helDed on the late advance,
In the railroad list aggressive buying
first developed in Southern Pacific, but
an excellent demand spread to other
points in the list, notably the grangers,
which were all up from to ~ points on
the day. There were notable movements
in Pullman, which rose SIS points, and
Anaconda. which jumped Az points in the
late market on the declaration of a divi-
dend. Chicago, Indianapolis & Louisville
stocks gained 2h and 2& points respect
lively. The Chicago Great Western stocks
showed rather sensational declines but
later rose above yesterdays level, except
for the debentures, which are off points.
London was a seller in the early deal
ings, owing to anxiety over the Trans
vaal situation.
Sterling exchange dropped a fraction
nearer the gold import point, but Is still
well above that level. The call loan rate
in New York dropped late in the day after
the days demand for money had been
practically all met. But the condition Of
the local money market was not materi
ally changed A drop in New York ex-
change in Chicago indicated renewed
pressure from that source for funds. Sat-
urday's bank statement is now expected
to show the New York banks in a some
what stronger position.
The bond market was firm in tone. To-
tai sales. 81, 256. 600
u s. as and old As registered declined
"A per cent. and the old As coupon Il per
cent in the bid price.