The times. [volume] (Richmond, Va.) 1890-1903, 1900-10-30

PRICES DRl
As DO UNIV ARD.
Professional Traders Either Sold to
Realize or Bought Short,
MONEY MARKET WAS EASIER
Stocks Rallied, Somewhat in tho FinaI
Dealings, but the Closin. Was
stu Below Saturdays
Level.

By Associated f,ress.)

NEW YORK. Oct. s9,-The stock mar
ket showed plainly enough this morning
that the recent headIons speculation has
opcrdone the prosperous conditions Of
fered by the renewed outside interest IN
5 Stocks. Ihere was a conspicuous ao-
sencs OF any sensational story OF vast
continental railroad conSoilcauons anu
new ocean-to-ocean COMBINATIONS, such as
Tere a feature or every Gay last Week.
Like topper, the stock market quickly
feit the need OF the customary bf.acefs
and began to tall away IN a nooa OF de-
preston. I'eopie who bought stocks last
week on the strength OF some OF me
startling stories current We're uneasy TINS
morning when prices began to go down
ward, IN spite OF the absence OIL pad
news, and haStened to sell, adding 10 the
oppression.
among professional traders there was
a general feeling that reaction was
overdue. and they were Influenced also
by the principle that the week before d
national election is bad time TO pc long
OF stocks, owing to the probability OF
aiarmlst reports becoming current linus
the market ignored various 1aNorapIe
factors in the situation, and either SOLD TO
realize or put out short lines. The re-
sumption Fof work among the miners IN
ihe anthracite district was one favorable
factor. putting an end. as it does, TO a
jong-standing drass many widely
varied industries, and settling the per-
sistent uncertainty as 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 violent break
of points and sympathetic weakness in
the whole steel group.
The shutting down of some of the de-
partments of the Federal Steel Com
pary's plant at Joliet seemed to depress
the group. Specialdes and industrials
showed a rather acute reactionary ten
dency following the high artificial adj
vance of last week. Declines in this
group ran from a fraction over a point
up to . and So points In some of the
New York stocks. In the railroad group
the declines We're more moderate, but a.
lengthy list fell from ! to l1a below Sat
urday. Northern Pacific was inclined TO
resist the depression all day, and in the
late dealings it was run UP points from
the lowest, giving better tone to the
whole market The sympathetic rally ex-
ceeded a point in a number Of cases. but
the closing was still below Saturdays
level.
Money conditions We're distinctly easier,
and the maximum call-loan rate was &c.
The tone of the ume-money market was
also easy. Apparently there was no
further shipment from Australia: on Sat.
lrday of s3,o30.060 in gold furtherer this
feeling Sterling exchange hardened in
rcspinse to the firmer money market in
London.
The dealings in bonds were large, but
The price movement was irregular. To-
tai sales. par value. Sl,s4a,o GOO. United
States new = s advanced y ana the IS
and IS registered Il per cent. on the last
call.
The total sales of stock were $4,000
shares.
MONEY AND FXCHANGE.-NIoney on
call steady at :,@4 per cent; last loan.
~ per cent: prime mercantile paper, 3n6
per cent Sterling exlhange firmer, with
ztctu al business in bankers bills at 81. S3?2s
for demand and at S4-SG2s for sixty days.
posted rates. S4.S1@4.S11@ and s.. S41s@4 So,
64l4; Mexican dollars, SOS; silver certifi-
Gates, 54@55. Government bonds strong;
State bonds firm: railroad bonds irregular.