The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-10-09
STOCKS AND bonds.
Depletion Of Hank Reserves Unset
ties Speculation.

ties Speculation.
New York oct s-Trading on the Stock
Exchange to-day was marked by a revival
Of considerable bear party whose activi-
ties were aggressive and persistent The
efforts 20 depress prices were contested
by the speculative holders Of Ions
stock who were successful in the work IN
ufting prices in spite Of tho various un-
favorable factors which developed in the
situation. The conflicting forces al work
were reflected IN "a feverish and irregular
movement OF prices The marked deple-
ton of banking reserves revealed By the
saturday blnk statement had che effect
Of uusettiiug speculative opinion.
There was constant variation between
apprehension over "a construction OF money
supply and the prospect ~ relief by i'm
ports 81 gold. The conviction became
prefty well settled az the day progressed.
Tint gold would move from London to-
ward New York this week. The market
for foreign exchange fell feverishly by
successive stages there. throughout tho
dav. aud demand sterling closed a full
cent in the pound below Friday level
which was che last day OF active business
In the exchange market. This price Is
Within a small fraction OF tho level gen
orally acreed upon as offering profit on
import ~ gold ai the present price Of
gold and rate for money BOO London. and
DIS probably within the limit that would
make the special transaction which gen
orally preceded n regular gold movement
iu struggling fashion. Owing 10 the
temporary abundance of money IN London
on account Of government financial opera
fions and receipts Of gold from India in
payment for silver discount rates continue
20 fan and ofer no resistance 20 che
pressure for gold Wshout future demand
To support the aNchange market the
Hood Of cotton bv ms which continues 70
appear IN the market insures movement
hither of gold. which only a sharp ad-
vance in foreign discount rates viii serve
70 check
such contest for gold as would thus be
procipitate1. even II e. resulted IN favor
81 New York. miRht not b. an altogether
reassuriug circumstance FOR spectators.
az the forcing Of liquidation IN foreign
markets might have a reflection here.
Hence the unsettlement OF the speculat-
I've mind to-day. in spite 81 tho prospect
Of gold imports There was also an ap-
probable narrowing Of the money supply
offering In New York The prevailing
rate held az per cent. for cali loans and
ran up to 3is pcr cent during the after
noon. Tho higher rate brought an album
dant supply 90 ON the small remaining re-
quiremcrt. and the rate ran on 20 2is per
Gems The Interior movement Of currency
continues unahafcd
with the exception or period Of
Strength in the steel stock led by Ten
nessoe coal and iron. the rcaciiouary ten
dency was predominant but the leading
stocks were on from ] TO 3 points. with
the late break iu can money and the cali
900 exchange 90 about the gold point prices
rallied somewhns. bat the market closed
fcverish and irregular The active bond
issues were weak. but there We're excep-
lions among high grade bonds Total
sales par value HOODS on United States
bonds unchanged on The last call.
Tho sales of stocks to-day were 2si 900
shares including Atchison $3.50. do pre-
ferred a7l5. Baltimore and ohio. 8 $50
Burlington 1880. Manhattan S315. MIS-
souri, Pacific. $50. Northern Pacific. IT,
@lo. Reading lst preferred 7t3o. St Paul.
$50. Pennsylvania. ISIS. Southern Pa
cinc $50. Union Pacific. SIS. American
steel and Wire. ii.slo. American Tobacco.
20 Brooklyn Rapid Transit $500: Fed
orBi steel 6A0 Peoples Gas. 81. so /.
Sugar 30 $50. Tennessee coal. 1875.
Nfvy YORK stock List