The times. [volume] (Richmond, Va.) 1890-1903, 1899-09-09
MARKET FEELS
THE WAR SCARE
As a Result Considerable Stock Was
UnIoaded Yesterday.
FALLING PRICES; THEN A RALLY.
The Tigbtncss of the Money Market
Was UnreIicvcd - Sterling E1r
change in New York Fell
sharp Fraction.
FALLING PRICES THEN A RALLY.

NEW YORK. Sept s.-Consideraole
tiock was thrown upon the mtIhtt t'-
DAY as a result OF ine fears OF war Dg
ana The condition. of the local money mar
kct was "a continued cause on uuttslhes15,'
The market took the offerings very VIZ
ana SO no very wide preecn,a W. it' ~
in prices. First prices az "a nuihDeI OF ,nV
interuatiOuals were the lowest on tHS ueyg
notably Kansas ANA Texas liel'tIeu "iH
Norfolk and Western preferred WhlcH
not down 90 the London parity, 4s a run
and vigorous support was l0ithcoillhs
az the decline. Kansas ana leAas PIE
ferrcu and Norfolk ana western preieifou
recovered their losses. and there was
rally an along the line. Nea noon mere
was renewed weakness on lhe CIRCULATION
OF alarmist rumors regarding the out
come OF the British Cabinet meeting. The
general level of prices fell lower than on
the first dip. There was movement 10
cover short contracts. when authentic re-
ports were received OF me Detter ieehhe
elgonderd ln London atter the cabinet
meeting About the same time Manhattan
was taken in hand and marked up over
points Metropolitan street railway, Sn-
rar and Brooklyn Rapid Transit rose
simultaneously The general leNel or
prices rOeca large fraction. SUFFICIENT IN
many cases 20 wipe out earlier losses.
Tennessee C0nl rose agrrcssiVcly 70 llt ln
the final dealings. and Manhattan touched
JIG. tho spcclalties generally showing
some response. pacihc Mail suffered a
loss OF nearly 4 points on the statement
Of a decrease IN July earnings, but faiifd
afterwards The ughtuess OF the money
market was unrel. eyed. The time loans
were held at per cent, and can loans
for tho most part ranged from j 4n gu. up
20 per cent. The late fall 1n call loans
occurred after the needs of most borrow
crs had been met, and was without Sib-
nlhcance. a further decline in surplus
reserves iu to-morrows Dank statement
81 a f0regOne conclusion. INC movement
OF currency by express Indicate q net loss
20 tho interior hy the banks OF c9nslo-
erably over @.09oOop. ana me SUD li ti,l,-
uavmeuts for taxes and deposits for tele-
graphic transfer 90 the interior OF So,D5O-
90. No sot-om is apparent against this
lott OF cash of upwards Of $S.JOO.OJ Stcii-
ing exchange in New York fell sharp
fraction this morning IN spite OF hlgheI
discount rates iu London, but the bankers
rate for demand sterling partly recovered
in the afternoon. The recent irmness on
sterling exchange IS attributed 10 a de-
mand Tor bankers bills TO cover short
sales made against cotton DIS.
The bond market showed yielding ten-
dency on a moderate volume of transac-
ffons. Total sales. par value. S2OlOOJO.
United States bonds were unchanged IN
BID quotations.
The total sales Of stocks to-day were
48T. 200 shares, including Atchlsou, 300
do preferred 2l7J0: Burlington. LOO
Rock Island 1864. Louisville and Nash
Vile, $500. Manhattan. 1850, MeU9p9n-
tan Street railway. 400. 81. IauL l',o'',
Missouri Pacific. jG2j. Missouri Kansas
and Texas preferred. 5195, Northern Pa
cihc. ESQ. Southern Pacific, 1850 South-
crn railway preferred. Goo Union racine.
1850: do. preferred. 7,1Gj, American steel
and Wire 1850. American steel Hoop.
5. 700; Federal steel. 1000 Sugar, 1880:
North American, a,I20. tennessee Codi
and iron. ~ 2Sl. United States Leather.
1890. Brooklyn Rapid Transit &,5G0:
Confidential Tobacco. 800. colorado tuel
and Iron. S10J. Anaconda, 5000.
MONEY AND observation-disclosures on
call firm at 2UG per cent? last loan az =
per cent. prime mercantile paper 4l4H3
per cent Sterling exchange easier VIII
aefuei business in bankers bills at 81 S6H
a. scr for demand and az Sis34i .sPi for
sixfv DAYS. posted rates, 81 S6@ul Sii2i
commercial Bills SfS2 Silver certificates.
F0igll0Na, Government bonds steady;
stafe bonds steady: railroad bonds weak.