The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-09-20
The WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest of Exchange News-Mining Stocks
Metal Quotations-Wool Prices and
Movements-Grain and Pro-
duce-Review of Trade.

New York, Sept. 19.-The delicate ten
sion of the speculative temper was Illus
trated by the course of to-day's market,
which seemed to be going prosperously
on its way towards recuperation and re-
covery in prices until the last half-hour
of trading. After that time prices were
bowled over in every direction like a set
of ten pins which had been set up simply
to be knocked down again. The selling
movement was in full force when the
market closed. Some of the earlier gains
were held, though in other prominent
stocks the notable advances achieved ear
lier in the day were completely wiped
out. The market gave every appearance
of having thrown off the incubus of the
money scare. The reports from abroad
were of a more conciliatory attitude on
the part of President Kruger and the de-
cision of the French government to par
don Dreyfus caused a rally in foreign
markets. Professional operators who had
secured stocks at yesterdays low level
had turned bull and there was a fair
volume of dealing in commission houses.
attracted by yesterdays late recoveries
the opening and trading was very active
for q time, but on a descending scale.
After prices had gotten back to yestcr-
days close a demand of substantial
character prevailed for standard rail-
roads Some spccialtieS, notably the New
York traction stocks, which have suffered
violent losses. were marked up rapidly.
Late in the day very buoyant tone car
rieI the coalers upward under the lead
o: Lackawanla, which advanced an eN-
trcme 11K. Other members OF the group
rose from az to 4 points. Metropoltans
extreme rise was 6k. Brooklyn Transit
was UP a one time Az. Many other spe-
cialties were up between ana points
and the active railroads very generally
showed gains of from / to ~. Such was
the state OF affairs when traders began
to take profits In the coalers and Metro
politan Street Railway. 1t did not take
the bears long to wipe out all the gains
in Brooklyn Transit.
Ths advance in prices was accompanied
by professions of confidence that money
market difficulties had been passed. Call
money ruled at 6 per cent. and above
during the day, the banks not losing
quite as heavy as last week, either to
the sub-treasury or to the interior. But
the outward movement OF money is more
than sufficient to make inroads upon the
legal reserve of the banks. 1t is known
that many loans which have been called
have been placed with other borrowers
or have resulted simply in shifting of
colaterals. while the loan was marked
UP but was left otherwise undisturbed.
Reports were in currency that considera-
Bile money had been placed in call loans
for account of Canadian banks. One
New York bank took out additional cir
culation in Washington to the amount
of $3.50, 600 for which notes had already
been printed and made available for cir
culation. Except in these cases there is
no evidence of any actual replenishment
OF cash for the New York market nor is
any discernible In the immediate future.
Bankers express the opinion that money
will continue hard at per cent. One of
the vagaries of the situation is that ster-
ling exchange held steady to firm to-day,
with buying for London account of more
than 15,000 shares of stocks, while it
dropped sharply yesterday in spite of
London's selling of more than 10000
shares. Competent authorities do not
look for gold imports until much later
in the fall
Bonds showed gains and held better
than stocks in the late weakness. Total
sales. s2,29O.O00. u. S. bonds were I'M
changed in the bid quotations.