The times. [volume] (Richmond, Va.) 1890-1903, 1899-10-06
STOCK MARKET
DULL BUT FIRM
Recent Disturbances in Foreign Mar
kets Have Little Effect.
CALL MONEY WAS STILL EASIER.
And the Impression Prevails that the
Period of Extreme StriDgcncy is
over - Bonds Were Dull
Through sympathy.

NEW YORK. oct. 5.-The stock market
Today continued TO show marked indit-
ference 10 the disturbances In foreign
markets on account of the war scare and
Of money difficulties, as well as 10 the
continued stiffness Of the local money
rate. Prices dipped at the opening on
the rumOr of an invasion OF Natal by the
Bocr forces and on the further advance
In the Bank OF England's official rate
of discount. But the opening prices were
for the most part the lowest. and the
market quite promptly set about retrieV-
ing its decline. The liquidation for Lon
don account was comparatively of small
volume sales not exceeding 1000 shares
lu fact, the foreign stock markets SEEM
"a 10 take no very serious account Of the
strained condition OF affairs. and even the
kanir mining stocks which would be
most vitality affected by the war were
quite firm.
The market for call money in New York
showed further relief from the extreme
strinCency though by no means on an
easy basis. To-day's maximum rate was
~ per cent. and II fell before the close
below the legal rate.
The undertone Of the market for stocks
was very firm This was not due 10 any
large demand, even I'm the case of stocks,
which moved quite widely, but rather 10
the bidding up of prices by those inter
csted in securing higher figure for their
holdings This biddng-up process now
over. fhlltQ TO bl4nE OUT ltb 10 va N'4iir'-.'
which fact was significant OF the mar
kers hrmness. Another was the large
number Of stocks not usually deaiI m
which were brought into activity. ana me
numerous odd lots which were ieCuIucu
on the tape. The latter feature IS always
indicative of Che presence OF the bargain
hunter. who IS buying stocks outright TO
hold as an Investment class or buyers
who do not depend on the money market
for borrowed funds. There Is undoubt-
D. f.f.. f.rafff q ON
gent poriod for money Is over. The de-
mand from the interior for funds con
tinucs large. and may encroach on tlc
reserve Of interior banks loaned on can
i'm New York The rising discount rates
in London caused an additional advance
go the rate for sterling exchange here
in Paris and I'm Berlin and the weak re-
turn of the Bank Of France discourases
the idea that either London or New
York can hope for large relief from that
centre.
The bond market was very dull in sym
uafhy with stocks Total sales. par value
81 275.oOO United States rs declined r.
now As a. and the 3 . and 5's Is an the
bid price. coo
shares. including Atchison preferred 10
$50. Chicago Burlington and quincy,
BOO. Louisville and Nashville. l4'o''
Manhattan. $3.50; St. Paul, 1900 Soutn,
crn Pacific. 1920; American steel anu
Anaconda Mining Company. 1850; Brook
lyn Rapid Transit. 22.660: Continental o.
bacco. 500. Federal steel. S6l7; Feo-
pies Gas. GJSJ. Sugar. 2o,Jio, Iehiiessce
coal and Iron, 1850; united S'a,ea
Leather. 1880. United States Leather
preferred, $3.50
MONEY AND EXCHANGE.-Money on
can firm at 4012 per cent; last loan az, a.
,.s~ cent orime mercantile paper. jl2Q6 !
r,er cent. Sterling exchange firm. win
actual business I'm bankers bills ct - ~
nd SIS for demand and at S4SgsR T. NJ |
.or sixty days: posted rates, Sisl "a"
ana 81 SCI: commercial bills. $500 800
silver certificates. $685.. bar silver |
49,. Mexican dollars. A.. Government |
bonds weak: State bonds Inactive ran