The times. [volume] (Richmond, Va.) 1890-1903, 1901-11-01
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PRICE MOVEMENT
WAS IRE gu. AR
Market Approached Starvation Save
in Few Stocks.
WAS NO PRESSURE TO SELL.
Prices Grasl;a,ed to Lower Level on Ac-
count of Paralysis OF nenaad ad-
vance in Discount Rate Wasa
Further Cause.
Market Approached Stagnation Save
WAS NO PRESSURE TO SELL.

Dy Associated prcss.)

NEW YORK. Get. Sf.-ESccpt for spec
sal movements in q few individual stocks.
to-day's market ran down near TO stasna-
ton many times. There was no pressure
10 sell. but prices grayitated TO lower
Level on account ot the paralysis OF oe-
nand. The central cause OF this state OF
affairs was The advance In the discount
rate OF the Bank Of England to per
cent, compared with the ) per cent r ate
which has maintained since june lon,
last This gives unnllstakaple iioucc Siis'l
further demands are penuiES upon me
bank s stock OF gold, which the rise III the
discount rate is inteilded to protect ~
diverting the demand upon New ofh. no
uptipt seems to be entertained mat ms
object viii. be achieved In TACT, arlanSs-
,ntnts were already perfected to-oaS Tor
shipments OF gold to Paris next Week
The weekly statements of the Bank OF
England and the Bank OF France SHOW
the need of the former to check The
French ocmand upon their reserves, and
us clearly the necessity OF The latter Tor
recuperation. The French bank has
gained in gold during the week about
What the English bank has lost The
10 the extent OF S11.ooo00o. incident 10
fiie meath-end requirements In Paris
this requirement is supplemented b.
That the bills discounted have been i'm
creased nearly Si5co0,oGN, and the note
circulation has been expanded over S3,.-
aNt.tfb The week lie Ppli cNpOrtS
figured in the sub-I'reasuTy statement to-
day, bringing me days gain b. that IN
sutuuon from the open market to S., l6a.-
ppo, and the gain since Friday last to
S3,S:n,dG0 Chicago exchange on New
York also weakened to-day. and $4,000
was deposited at the sub-Tresury FOX
transfer to New Orleans.
On the other hand, the sub Tree sury
paid out over half q million dollars on ac-=
count of gold deposits at San Francisco
and Seattle. and made a payment of :sIi2--
l:I for reueened bonds. thus cleaning UP
the last of the accentance under the Il tG
offer of the Secretary of the Treasury.
The renewed, doubt as to the extent For
foreign demand may have chilled senti-
mcnt here. but hopes are expressed that
Tomorrow exports and dividends will
soon come back to relieve the money
market.
The Northern Pacific settlement fell into
the background with the heaVness and
neglect of the Pacific stocks --hich con-
tlnued TO the close and maoc the market
easy.
There were some strong spots in the
regular Total sales. par value 81, 16j.
Coo. United States bonds We're al! I'M
changed on the last call.
The total sales of stocks today were
S5:;, 100 shares.
MONEY AND ESCI1ANGE-Mone-- ~,
call STEADY at 21.G4 per cent: last loan,
:; per cent: ruling rate. 4 per cent: prime
mercantile paper. 415GI:5 per cent Ster-
ling exchange firm with atual business in
bankers bills at 81. S6a4 "a. SG1s for demand
and al 81 s35s44. s3&i for sixty days:
cial bills. s.. S2Gl4. SSls. Bar silver, 57k:
Mexican dollars. 10 Government bonds
steady: railroad bonds irregular; State
bonds inactive.