The daily morning journal and courier., 1900-02-10
Etnantial.
' T T5 - IK E STOCK ~ ARK EY.

Complete Withdgaw of General
 New York, Feb. 9.--There seemed to
 be a complete withdrawal of the gen.
 eral interest in the stock market which
 was so conspicuous factor in the ac-
 tive trading of the early days of the
 week. The two days reaction in prices
 served to discourage the outside demand
 and orders to commission houses fell to
 practically nothing There was con tinual dribble of realizing sales all day and the bears industriously pecked at the market here and there, wherever they detected evidences of rallzing, or
 Of long stock offered for sale. The most notable price movements were in
 the speculative industrials and special
 ties. Late in the day on the report of
 a renewed British reverse al Ladysmith
 the bears made determined raid on
 Sugar and Third Avenue, forcing them
 off an extreme 8 3-S and IA respect
 lively. The general list failed to re-
 spond to any marked degree and SUD-
 port was accorded to the stocks at
 tackled, forcing the bears to cover They
 made final futile attempt against St.
 Paul. but the market closed generally
 firm and at rallies Of from 1 to 3 IA in the stocks which had been attacked.
 The tone in the general list wal listless and heavy for the greater part of the
 day and i. was not greatly affected either by the late attack of the bears or n ru1 b.,J point ill only few stocks. American Tobacco was conspicuous exception to the general weakness during the day and after early declines rallied strongly IA, closing at about the best There was good demand for Erie first pre- ferred, which carried it up at one time o-S, most of the gain being lost Much doubt existed as to the probable effect on this market of further British re- verses in the South African war and the confusioli of mind was clearly reflected in the late movement of the market The forecast of the bank statement to- morrow had much to do With the dis inclination to extend speculative com-- mitments. The recent movement of funds from the sub-treasury into the banks has been reversed and the latter institutions have lost on that account S6S5,000 The shipments of money to the interior have increased over last week and the receipts have diminished so that the net gain on that account has been cut down to little over S1 1OO0,- 0O0, Allowing for the sub-treasury ab- | sorptions the weeks gain in cash will l therefore be insignificant. The liquida- i tior of speculative profits ir the stock ! exchange during the week may have relieved somewhat the pressure on the . banks for credits. The call money mar | ket has not shown any increased press ure for funds, but the rates for time | money were distinctly tirmer in tone to- lay. Loans on exceptional collateral were made earlier in the week at 1-2 per cent for short pe1iods. but the minimum rate to-day was advanced to per cent. Sterling exchange also har- lened in sympathy with the rise in dis ,ount rates in London. The rather vio- ent break in the price of cotton on speculative liquidation probably had some sympathetic effect in the stock market.
 Business in the bond market fell off and price changes were ir-