The times. [volume] (Richmond, Va.) 1890-1903, 1900-10-26
STOCK PRICES
SHOW LOSSES
Efforts to Resist The Decline Proved
Futile.
SUGAR BROKE IN FINAL HOUR.
This Had Not a Little to DO Wit, tho
Decisive Downward Course Of the
General Marl;ct-Bo.ds Were
Inactive but Firm.
fEy Associated press.)

NEW YORK, Oct 23.-Accordins TO the
phrase OF the professional tFauets
stocks Il reaction IN prices was tteotest-
caily due to-day. The reaction was siren en-.
NonSiy contested by The ball element pes'
their Efforts proved futile and prices gen GIN.
orally SHOW losses ON 1ne Gay. =.
~ sudden and characteristic preah iii
Sugar IN The iiDai hour had not a Mite
to Go with the decisive course o. iile
market downward. Sugar suffered IRON
very heavy liquidation after ITS rsce cns
sharp rise. which was not accouillea toi
10y any news. To-tiay's break was 1ediig
without explanation. except the TACT u
sile previous risc and the resulting f eai-
3zing. The drop in Sugar extended 10 -
points. The weakness was not extreme al
other points in the list, the proht-takihs
having proceeded in an orderly ana quiet
way during the greater part OF the dag
without very serious effect on prices.
IN the late dealings manipulation by
the Bears was in evidence, stocks making
vice declines on light transactions. The.
sheory which professional operators offer
10 explain q reaction like that oil TO-
Gay Is that stocks. as Il result of a steady
and prolonged advance had passed from
strength and organized control into the
hands OF weak ana scattered buyers out
side. who 90 not command large resources
and lack skill to protect their holdings.
The anxiety of this class of holders on
amy sign OF a reaction becomes drag
of time.
To-day's disposition TO sell had no ac-
companyinG' favorable news TO explain 1t
unless il was the fragrant lack of con-
1irmation OF many of the recent rumors
which have been used ~ advance stocks
could be called bad news This class OF
11lulorS conferred about Brooklyn transit
to-day and included rumors OF chanse OIL
co,r,ol in MetroDolitau Street Railway
and explanations of a newly acquired II
1erest by the Pennsylvania Rallroad IN
The property. The stock was pushed up
an extreme 81 on these rumors. but fell
hack ~ in the late selling In the rail-
road list Southern Pacific was the con
cpicuous feature, with an extreme az
Vance of nearly points ana y net SAN
Of 1lk The new Chicago and Alton secuF-
sites which We're traded in Tor the lrst
time, advanced steadily for the common
stock which rose 3 points, T'hlie the pre-
1errcd recorded Il decline
There was nothing in the money market
10 disturb, borrowers. The maximum rate
for call loans was A. per cent, asai1st :,
per cent yesterday, and the rate s1eioeu
Ia az ,,eT- cent in the late dealings 1here
were no deposits al the Sub-ITeaSurS 1or
transfer 10 the Interior Sterling eSchahse
sfCaaied slightly on the 1irmer money
market in London. which Tesui, e ron
The weak return of the aBnk.oL lahsiaiu.
But The Improvement in conditions OF me
Bank of France was really OF greater m
portance. as APIS Is iookco 10 10 coii-
! serve the money situation.
Ii is evident that New DIRK can draw
further gold If it is desired, but total
already engaged abroad for import OF sio,-
800, tflU, less than S4,tbutpi mas pSSh az
7uaIly received and placed in the bank,
ing reserves. The rest Is in transit ana
viii soon become available
The bond market was not Very active
today. but prices were firmly held. Total
sales. par value. S2,5on.Ve. United States
5's advanced u per cent on the last can.
The total sales Of stocks to-day were
Csc, 700 shares.
MONEY AND ENCI9ANGF-Mone on
call firm al 3l&G4l4 per cent; last loan
AZ nor cent: prime mercantile paper,
:.Glti ,,er cent Sterling exchange steadier,
with a.tual business in bankers. bills bills
at 81 S::a4 for demand and at ~. sot4ani stsss
for sixty days: posted rates. S4.S1d4S s.
and 81 SnlaGi4. 50: commercial bills, S4-I98
tdI. set. Silver certificates. 64iEad6olt; bar
silver CO.: Mexican dollars .'o|4.s Gov