The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-09-14

the general condition, the country remains
plunged in profound doubt and uncertain
ty The few movements of prices are lit
tie more than ripples on the surface of q
stagnant pool. Members of the stock ex-
change are quite nonplussed. Both that
class who operate on their own account
known as room traders and the commits
sion, house brokers' are equally puzzled
over the immobility of the market. The
few stocks in which any appreciate
movement occurred today were dealt in to
so small an extent as to detract from the
significance of the changes. The Coalers
showed some sharp declines, Lackawanna
losing 21a points, while Reading first
preferred and New Jersey Central were
down at one time about a point, but part
ly recovered. The declaration of strike
in the Pennsylvania region had depress-
ing effect on the general market, as the
contest inaugurated is felt to be fraught
with vast possibilities of harm. Some de-
preston was reflected from foreign ex
changes, London showing uneasiness over
the likelihood Of a railroad strike. The
leading incident of the day in the finan-
cial world was the easing of the private
discount rate in London in response to the
large additional recuperation shown by
the Bank of England. The sterling ex
change rate fell sharply in New York,
Paris and Berlin as consequence, an adj
vance in the Berlin discount rate helping
the movement The London money mar
ket was apparently undisturbed by the
stock exchange settlement and the %
per cent. installment falling due tomor-
row on subscriptions to the British eX
checuer bond issue This leaves half of
the subscription yet to be met. The gen
eral admission that German loan to the
extent of $25, 900, 900 is to be placed in New
York gives additional interest to the ef
feet of the remaining installments to be
paid by American subscribers to the Brit
ish loan. 1t is a safe assumption that
liberal proportion of the German loan will
have to be met by gold exports, the need
of gold being the evident motive of the Ger
man Government in seeking to place the
loan in New York. The Berlin bank which
is usually foremost in Government finan-
cial operations, has for it's correspondent
in New York the bank which holds over
$40 900, 900 of surplus reserves, compared
with the total surplus of 5000, 900 for
all of the sixty three clearing house
banks. Fully 81 per cent. of this banks
reserves are in gold. With the growing
movement Of currency to the interior and
the cessation of money supply on Sub
Treasury operations the future demands
thus indicated on the money market may
we'll have something to do with the de-
termined apathy of stock market specu-
lation II is not improbable that the syn
dictate which underworld the American al
lotment of the British loan may make
further gold shipments to meet later in
stallments on the loan.
The bond market continued devoid of
interest except for a drop of 1R in st.
Louis Southwestern seconds. Total sales
(par value) $4,000.
United States SIS declined 1 per cent.
in the bid ?rice.
The total sales of stocks today were
lis, 700 shares, including the following:
Northern Pacific $780, Philadelphia and
Reading first preferred, 1920; Union Pa
cific. 1885: Peoples Gas, Is, $50.