The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-10-30
SENT IH PRICES down
WALL STREET MARKET SHOWED
A REACTION FROM LAST
WEEKS BOOM
LOSSES IN THE ACTIVE LIST
II
They Were the Feature Of the Day
Heaviest Dealings There In
Sugar and brooklyn
Rapid Transit.
LOSSES IN THE ACTIVE LIST

l. rs Close. Day.
Bar silver. New York. :s,....... .644 64ss
Call money, New YORK;. 3@4 49,.
- III
NEW YORK, Oct s29s-The stock mar
ket showed plainly enough this morning
that the recent headlong speculation had
fered by the renewed outside interest in
stocks. There was a conspicuous alb
sence of any sensational story of vast
continental railroad consultations and
new ocean-to-ocean combinations, such
as We're a feature of every day last week
Like a topper, the stock market quickly
felt the need of the customary "bracer,"
and began to fall away in mood of de-
preston. People who bought stocks last
week on the strength Of some of the
startling stories current were uneasy
this morning, when prices began to go
downward, in spite of the absence OF
bad news, and fastened to sell, adding to
the depression.
Among professional traders there was
general feeling that a reaction was over
due, and they were influenced also by
the principle that the week before ma
tional election is a bad time to be long
on stocks. owing to the probability of
alarmist reports becoming current Thus
the market Ignored various favorable
factions in the situation, and either sold
to release or put out short lines. The
resumption of work among the miners
in the anthracite district was one IA
vorable factor putting an end as it does
to a standing drag on many widely
varied industries, and settling the per-
sistent uncertainty ais to the final out
come of the controversy. Nevertheless,
the coalers were heavy. A preliminary
decline in Tennessee coal uncovered a
stop-loss order, causing a violent break
of points in the stock and sympathetic
weakness in the whole steel group. The
shutting down Of some departments Of
the Federal Steel company's plants at
Joliet seemed also to depress the group.
The important specialties and industrials
showed q rather acute reactionary ten
dency, following the highly artificial ad-
vance last week. Declines in this group
from a fraction over a point up to
and 312 points in some of the New
York stocks. In the railroad group the
declines were more moderate, but q
heightened list fell 1 to ~ below Satur-
day. Northern Pacific was inclined to
resist the depression ali day, and in the
late dealings it was runfup points from
the lowest, giving a better tone to the
whole market. The sympathetic rally
exceeded a point ina number of cases.
but the closing was still below Satur-
days level. Money conditions were dis
tinctly easier, and the maximum call loan
TdlS WAS per CENT Inc tone OIL the
time money market was also easy. APP
parently there was no further uneasi-
ness over the future of the money mar
ket. The news of a further shipment
from Australia on Saturday of s., 100000 in
gold furthered this feeling. Sterling eX-
change hardened in response to the frmer
money market in London, which was
result of the operations Of the Bank of
England in Withdrawing gold from the
the money rate. From Berlin came the
report that the money market conditions
have. ceased to excite apprehension, a.
development that helps to, account for
the strength OF Northern Paciie.u iiss-z
The dealings III bonds were large, but
the price. movement was, Irregular Total
sales, par value, 81, IDS, 0e0! ~.
United States new As advanced y, and
the IS and IS registered Il per cent on the
last call