The times. [volume] (Richmond, Va.) 1890-1903, 1900-10-23
SHARP FURRY
IN CALL MONEY
Active Speculation Brought 10 STAND
still in Final hour.
EARLY GAINS WERE WIPED OUT.
Heavy Selling for Profits Carried
Level of Prices Materially Below
Best Ct Da,. and Took Al
Snap Out of Market.
EARLY GAINS WERE WIPED OUT.
ay Associated fFcss.o

NEW YORK. Oct 22-To-day's furi-
ouSi!. active and oueyanl speculation
. VS. brought up With sharp turn in the
maj hour IN The traaing by a hurry IN
the rate Tor call money. winch carried il
Up 10 . per cent TINS was accepted
an adnoniuen that the speculation WAS
oteiTuhlaS the ncwly-aIcqu4lea resources
Oh Inc money market. ana very heavy
set in.
IN some OF the stocks most affected by
Lhe late selling The ear.ler gums We're
clitiielS wlibed out and the az trdSe level
WAS carried down considerably bg.oW tiie
best OF Inc day The effort OF the bulis
10 retrieve their ground caused i very
t 1iiseltied tone, but the closing was, on
ttt Nila!e, easy, Win The buUyaut snap
apparently taken OUT from the market.
NEUTRALITY-SUSPICIOUS. this late setback there
were some very striking upward move
lisAiS oil prices, especially in the steel
group, and the largest Gays business IN
STOCKS since the earlier part of the year
was transacted at d level of prices We'll
above those OF Saturday
Spectators reyeleu IN the revivifving
streams OF gold which are pouring into
lie New York money market from many
quarters o. the world. Yesterdays in
coming steamers from Europe brought up
he total receipts OF the gold engaged
lnere Tor import TO over S:,,DU9.0,5t and
Saturdays receipt Of s4,Spo,o9O II san
francisco viii be made Immediately avail
apie 10 the New York market by te!e-
graphic transfer. The balance OF the
total engagements in Europe which
amounted to upwards OF SlnUv.V,al, is last
following on the heels OF the shipments
already reported Neither on SATURDAY
nor to-day Was there a single dollar de-
posted at the SJb-Treasury Tor transfer
To the South or West which is a conciu-
siye demonstration o. the marked decline
OF the interior requirements for currency.
tterfirS exchange fell back TO near the
Soid-import point. and the continued
downward tendency OF interest rates in
don, u ~
quiescence in the threatened further de-
nlands Tor gold trcrn New York
II Is important to note that the weak
ness OF sterling exchange is largely due
10 the heavy buying ri stocks Tor Lon
don account, which amounted according
TO reliable estimates, 10 5000 shares
Exchange made from this source, unlike
that due to the cotton movement does
not involve q corresponding drain from
New York, such as is required 10 move
the cotton crop. London'S large buying
was reported ODE due, in u degree, to
speculative covering OF calls for -Ameri-
can stocks which London has sold quite
freely for some time past, and which the
current rise in prices forces that market
10 provide itself with The consequence
OF these various faN0ring factors was
what the brokers cs->ed the best open
market for stocks since last spring.
This was taken advantage OF from the
outside to realize on 4 very large scale.
and the professional operators became
somewhat uneasy as they detected evil
dence of inside selling. The squirt in the
cali-money rate was all that was neces-
sary to precipitate the general selling
movement.
There was greatly increased activity =
bonds as well as in stocks. and prices au-
vanced very generally Higil-grade bonds
Were not conspicuous in the dealings.
Total sales. par value. 81. 10000. United
States registered Us advanced Is per cent.
on the last cali.
Total sales CT stocks We're S67, 200 shares.
MONEY AND ESCFIANGfG.-Noney on
cali firm at ;i6t5 per cent; last loan at =
per cent; prime mercantile paper, .lG6
per cent. Sterling exchange easy. with
actual business in bankers bills al 81 S:i'<
Tor demand and at 81. Sn9s674. soy for sixty
days: posted rates. 81. Sl1aG4.S2 and 81. 50
I4.S51a; commercial bills, $4-S014 a.. St}&I.
Silver certificates 6413Giti5Ia: bar silver.
GIL AlAlox.c..,, .inlI.lr.s -Na. G1n,ar.,n-