The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-09-29
WAS UNFAvORABLE,
n. Y. Bank Statement
Distinctly That
Way.
TURN AGAINST THE SHORTS.
Boston Trading Was Mar
row-Market
Notes.

An unfavorabie bank statement, more
high money rates, some selling of stocks
and later rally. with small volume of
transactions. marked the Wall street
day. the last business day until Mon
day
Despite the 10G15 per cent money rates
and the disappointing bank exhibit,
the market held well. and losses were
about offset by later rallies in the few
prominent stocks. In the afternoon,
business was suspended practically.
The Prokers celebrated the arrival of
Admiral Dewey with a band concert
and general festivity. and there seemed
to be general relief that for the next
three DAYS there will be no market to
worry. The ticker became absolutely
silent in the middle of the afternoon.
AT that time the average of leading
stocks was Il lower than at the close
yesterday. A az fall in Brooklyn
Transit. with partial rally, was the
marked feature. while Tennessee Coal
advanced2 and Sugar lost H. Thestand-
ard stocks eased fractionally, recover
ing in part. The bank statement
showed further loss of over thirteen
millions in deposits. with loans de-
creased somewhat over one-half as
much. Lawful money reserve holdings
(specie and legal-tenders) decline four
and one-half millions. and the surplus
of excess of reserve above legal re-
ouirements is reduced over a million,
and stands at less than two millions.
materially lower than usual at this date
in preceding years. After Oct. 1 it
soerns to be expected that monetary
'ditions gradually win improve. and
/ sensationally high rates on the
elk exchange will give place to a
settled firm range in conformity to the
basic facts of the genuine demand for
money caused by the country's great
business prosperity. Sterling exchange
is lower and continued gold imports
seem assured. There was no change in
the Bank Of England's rate of discount
rodav
Boston had a good market. what
there was Of it. Business was light in
volume but strength was shown in sew
eral directions. Albany rallied 7. to
257. on the COMPROMISE at the annual
meeting, and so-called combine" min
ing shares improved notably Butte and
Boston sold UP s. to 70: Utah IL. to
AZ, on good-size6 dealings: United
States IL, to SO; Centennial 15s. to $685.
and Arcadian T. to SO, Baltic fell back
l, to 22K, rallying to 2412, selling later
at "a: Santa F'e hardened r. to 1874
mere are signs OIL renewed animation
among the copper interests. or those
back Of a certain prominent group; per-
haps another instalment of Combine"
is about ready to make public, but it
probably is not too much to say that
another great rush to subscribe a la
Amalgamated is not expected. AS to
the general copper group, there is a
better feeling around and some of the
low-priced stocks. Mass, for in
stance, are attracting favorable
attention. Gold Dredging was strong
er, at 2612. Bonds continued reason
ably active, with firmer tone Bust
ness flattened out in the afternoon,
while Wall street was making merry in
patriotic celebration, but the firm I'M
dertone was sustained.
The following quotations were made
on the Boston exchange yesterday, on
stocks held III Worcester and vicinity:
BOSTON QUOTATIONS.
(Reported by Kinnicutt & DeWitt.)