The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-11-01
MARKET NARROW,
Federal Steel Up 21-2
Steel and Wire
Rises 2 IA.
LITTLE CHANGE IN WALL STREET.
Boston Trading Limited in
Volume-News and
Notes.

The combination of renewed none
tary flrmness and of the British disas-
ter in the Transvaal, made for a dull
stock market in Wall street yester-
day, with some softening of prices.
There We're some strong features, no.
tably the steel shares, Federal rising
21a and Steel and Wire "a. Broadly
speaking, the net changes were few.
Thirty per cent money and the British
reverse have done little more than to
check the rise; no heavy selling of
stocks has taken place, and the market.
instead of declining, as it might have
been expected to do after a good rise,
merely becomes quiet and halts. The
basic strength of the speculative DO
sition is made. clear in this compare
tiVely small response to the money and
the war influences.
But here the money question comes
IN; funds are needed in general bust
ness the return flow from the west
as yet is small; November interest and
dividend disbursements must be pro-
Vided for at a time of low bank re-
serves, and it is not strange that the
expanding buoyancy of the speculative
market has caused another upward
able for such operations Hence yes
terday's rates of 5000 per cent But
the stock market certainly holds well
against this renewed demonstration of
the fact that we are in an era of higher
prices for money as well as for other
commodities. Money is active and is
even tight for speculative purposes. al
belt for general mercantile and bank
ers' needs there is no stringency-only
ro Of
been a sharp liquidation in the specu-
latiye market and present holders are
able to take care of their stocks the
market responds but little to the money
stumbling block against which spec
ulators have
RUN ONCE MORE.
The New York stock market opened
Weak-American Steel and Wire ASH,
Atchison preferred 65% c., B. & Q.
1884, Continental Tobacco 42b. Fed
eral Steel 54A Leather q, Leather
preferred S1A, Louisville and Nashville
S6lR, Manhattan 109%, Missouri Pacific
4S, New York Central 1879 BROOKLYN
Transit S512, Northern Pacific 54%
Peoples Gas 1141s, Rock Island 115, Su-
gar l52, ST. Paul 49, Southern preferred
So, Tennessee Coal and Iron III, To-
bacco l22, Union Pacific 46%, Union Pa
N'AAS GU 80. ne STOCK market
opened at sharp declines all through
the list, on news of reverses to the
British troops at Ladysmith The in
ternationals and the prominent spe-
clalties led the decline. OF the former,
Norfolk and Western. Missouri Pacific.
Louisville and Nashville, Baltimore and
Ohio preferred and Union Pacific lost
from l to IA, and of the latter, Sugar,
Steel and Wire and International Pa
per went down as much. The trad
ing was very active and heavy. and
large blocks of stock were thrown on
the market
supporting orders were distributed in
the leading stocks and the downward
furry was soon checked. The recov-
cry, however, was feyerish and there
were points of weakness. New York
Air Brake slumped six points. To-
ward II o'clock a drive against Man
haitian and Sugar brought sympathetic
weakness in the standard stocks and a
new lower level for many issues were
made.
The following quotations We're made
on the Boston exchange yesterday on
stocks held in Worcester and vicinity:
STON sTO CKs
(Reported bV KfnnictIft & Dewitt