Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-10-25
REVIEW OF MARKETS.
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange, Bonds. Grain,
Cotton, Provisions, Etc.

3. New ork, Oct. 24.-Ihe stock mar
ket was distinctly reactionary to-day
IN spite of some strong spots. Profit
taking was on a very large scale. Sales
on this account were quite well abb
sorbed, and there was no sign Of de-
moralization of prices. In fact the
pro1lt-taklng became obvious. and some
Of the room traders turned bears and
sold the market moderately. The bear
faction was not aggressive, however,
and made no great inroads on values.
Neither were the bulls inclined to re-
sumo their campaign for the advance
after taking their profits, and the mar
ket was inclined to drag during the lat
ter part Of the day. Some attempt was
made to infuse strength into the mar
kct in the last hour by the bidding up
of Union Pacific and Baltimore and
Ohio preferred. This induced some
slight covering by shorts. but SO far
as general resumption Of the advance
was concerned the attempt was
abortiye. Prices were very unsteady at
the close, and in many cases were pur-
suing a downward course.
The active realizing In the first hour
was much helped by a notable access
sion of outside demand, which was at
tracted by yesterdays sharp rise fol-
lowing a week Of stubborn resistance
to all attempts ut driving prices down
ward. This demand and continued ma
nipulation by n section of the bull party
served to wipe out pretty generally the
opening decline and bring the market
back to about last nights level HaV-
Ing reached that point the downward
course began. and, with the exception
Of some irregular fluctuations. the mar
ket continued heavy below last nights
level for the rest Of the day.
Special points of weakness In the
early dealings were Sugar, American
rOlN Toll n
Pullman and Brooklyn Transit. Ag-
gressive strength was shown all day
byGU. S. Leather. which was taken in
enormous lots and rose at one time to
22&. The closing was point below
that. New York Central, after small
fractional advance, met with heavy Of
ferings Oh the announcement OF an adj
d!tional stock issue of sl5.000.000. The
stock moved somewhat irregularly dur
ing the day within n narrow range OF
prices below last nights level. The
London market reflected some depres-
sion upon this market. and the under
tone there was distinctly weak owing
to uneasiness regarding the position Of
the British troops In Natal The Sug
gestlon of the Chancellor Of the Ex-
chequer that tax on South African
gold mines may be looked for to defray
the expenses Of the war was apparent
~ not relished by the SPECTATORS In
the mine market. Londons sales in
this market We're upwards Of 10000
shares. The general weakness Of cop
per mine shares had depressing in
fluence on speculation. The weakness
of Anaconda on the exchange was sup
plemented by break In Amalgamated
Copper In the outside market and by
weakness In Boston.
The hardening tendency OF money
was discouraging factor for the bulls.
Most OF the days call loans were made
above six per cent. and the rate rose
to per cent. late in the day Bankers
generally asked per cent for time
loans and were dsnclined to put out
their funds for the longer periods
Rather less money was shipped to the
interior to-day. but the outgo while
diminished, still continues. The sub
treasury Is also absorbing funds.
Realizing was in evidence in some
portions of the bond market making
the price changes mixed. Total sales
par value, $2.450000.
L. s. old As advanced Il and new As
ard 5's nc. In the bid price.
The total sales of stocks were COZ 300
New York. Oct. ei.-standara oil,
4.6lG4.G7.