The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-10-30
STOCKS AND BONDS.
Encct Of the Reactionary Turn Cen
orally Felt.


orally Felt
New York Oct 2a-The stock market
showed plainly enough shis morning that
the recent headlong speculation has over
done the prosperous conditions offered by
the renewed outside interest In stocks.
There was conspicuous absence Of any
sensational story OF vast continental rail-
road consultations and new octan 10
ocean combinations. such as were "a fea-
ture Of every day lost week
Like a topper. the stock market quickly
folt the need Of the customary "hracer."
and began 70 fan away In a mood Of de-
preston. People who bought stocks last
week on che strength Of some Of tho start
ling stories current were uneasy this
morning WHOM prices began 10 go down
ward, in spite OF the absence Of bad news
and FASTENED 20 sell adding depression
Among professional traders there was a
general feeling that "a reaction was over
due and they were Influenced also by the
principle thnt the week before a national
election IS "a bad time to bc long Of stocks
owing 70 the probability OF alarmist re-
ports becoming current Thus the mar
kot ignored various favorable factors in
the situation and either sold to realize
OF pus ont short lines
The resumption Of work among the min
ers In the anthracite district was one
favorable factor putting an end. as a.
does, 20 long standing drag on many
widely varied industries. and settling the
persistent uncertainty as TO the ANAL out
come Of the controversy. Nevertheless
the coalors were heavy preliminary
decline IN Tennessee Coal uncovered a stop
loss order. causing violent break Of I
aHHHFs Sea ooh
ness ~ the whole steel group. The shut
ting down 81 some departments OF the
Federal Steel Company plants al Joliet
seemed also to depress the group The
Important special,ies and industrials show
90 rather acut" reaCiionary tendency,
following the highly artificial advances
Of last week Declines Ia this rroup ran
from fraction over q point up 10 3 and
aA points Ia some of the New York
stocks. Ia che railroad group the declines
were more moderate. but q heightened
list zen from ! TO IA below Saturday.
Northern Pacific was inclined 10 resist
the depression all day and In the late
dealings &c was run up points from the
lowest. Swing better tone 70 the whole
market The sympathetic rally extted-
"a point Zoe number Of cases. but the
coslng was sim below Saturday, Lowell
Money conditions were distinctly easier
ana fhc maximum call loan rate was {
ger cent The tone OF che tlme money
market was also easy Apparently. there
wls no further unensiness over the future
81 the money market The nows Of fur
thor shipment from Australia on satur-
day Of 10000 in gold furthcred shis feel
Ing Sterling exchange hardened in re-
sponsc TO the hrmer money market In
London.
The deallngg In bonds we're large. but
the price movement was Irregular. Total
sales. par value. fl7f5.00O.
United states new as advanced x and
ne b and 5s registered. =. per cent on thc
last call
The sales Of stocks aggregated s7 900
Including Atchison. 1850. Atchlson pre-
ferrcd. 1888 baltimore and Ohio. 500
Manhattan l3e20 Missouri Pacih Is 40:
Northern Pacific. m.i25. Pennsylvania
~ 100, Reading nrst preferred. $40. ST
Louis Southeastern preferred sZl5. 81
Paul c735 Norhern Paclnc. y 90. Union
Incihc $50. American Steel and Wire
1880 American TOBACCO. 1889. Brooklyn
Transit. sass. Federal steel. 7.tss: Pacific
Mail ~ s55. Peoples Gas GEO. sugar
$500, Tennessee Coal 1878