The times. [volume] (Richmond, Va.) 1890-1903, 1900-10-09
TIE BEAR YARTIY
VAS AGGRESSIVE
But Their Efforts to Depress Prices
Were stoutly Resisted.
MARKET BECAME IRREGULAR.
Viii, The Late Break in Cali Money
and Fail in Exchange, Prices Raj
lied Somewhat, but the Market :.
Vas Fcvcrish at tho Close.
MARKET BECAME IRREGULAR.
tBy Associated Press !


NEW YORK, Oct S-TradiHg on the
Stock Exchange to-day was marked by
a revival OF = considerable bear party,
whose activities We're aggressive ana per
Sistent- Their efforts to depreSS prices
were contested by The speculative aoiCeio
OF long stock, who were successful last
week in lifting prices in spite OF the
various unfaVorabie factors winch de-
Seioped in the situation.
The conflicting forces at work were re-
fiected IN q tevefish and Irregular move
rnent Of prices. The marked depletion OF
banking reserves revealed by the oatQf-
day bank statement had the effect OIL htl-
settling public opinion. There was Il con-
Stantf variation between apprehension OF
construction OF money supply ana ils
prospect OF relief by imports OF goId:
itc conviction became pretty Wen Setiieu
as the day progressed that gold w9ula
move from London towards Ne@ ioih
this week
The market for foreign exchange fell
feveI1shiy by successive stages through
out the day, and demand sterling closed
full cent in the pound below trlday
level. which was the last day of active
business in the exchange market ms
price is within "A small fraction OF the
level generally agreed upon as offering a
profit upon imports Of gold at the present
price OF gold and rate for money IN Lon
don, and is probably within the limit that
would allow special transactions which
generally precede a general gold move
Iaent in a struggling fashion.
Owing to the temporary abundance Of
money in London on account of Govern
ment financial operations and receipts Of
gold from India in payment for silver, dis
count rates continue TO fall there and
offer no resistance TO the pressure for
gold.
There was an appreciate narrowing of
the money supply offering in New York.
The prevailing rate held at ) per cent. for
call loans. and ran up to 81 per cent.
during the afternoon, but the higher rate
brought out an abundant supply TO fill
the small remaining requirement, and
rior movement of currency is undated
with the exception of a period of
strength in the iron and steel stocks, led
by Tennessee Coal and Colorado Fuel,
the reactionary tendency was predomi-
rant the leading stocks being Of from
! to points.
With the late break in call money and
fail in exchange TO about the gold point
prices rallied somewhat, but the market
closed feverisf and irregular
The active bond issues We're weak, but
there was exceptions among higll-grade
bonds. Total sales, par value, Sl,0o0,00O.
United States bonds unchanged on the
Total sales of stocks to-day, 2s2. 500
shares.
MONEY AND ENCHANGE.-Money on
call firm at 2Gt2l2 per cent; last loan at
2l2 per cent; prime mercantile paper,
5Gg5l2 per cent. Sterling exchange weak,
with actual business in bankers bills at
S4-S31sd4-S4 for demand and at 81 SOS for
sixty days; posted rates, $i-Sl1a94-S s. and
81 S51s9I4. ST; commercial bills. S4.S094GD
aSuS4 Silver certificates, 6414M65l4; sill
yer bars CAS-: Mexican dollars, DOS. Gov
eminent bonds steady; State bonds
steady; railroad bonds Irregular.