The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1901-10-26
Rush TO Realize FIuCtuated Bulls
Attempts to Sustain Prices and
Money Question Was a Factor
Against Them
DAYS CHANGES WERE
ALMOST INSIGNIFICANT
Foreign Gold Market Conditions
Attract Notice Here-RateS
Have Reached Point That
Threatens Export Movement to
London and Paris

New York, Oct 25-The bulls had
hard work to sustain the market to-
day and the efforts to continue the ad-
vance were frustrated by the realiz-
ing encountered. The coalers contin-
ued to move upwards this morning and
there was a revival of the bull move
ment in St Paul. But the heavy real
izing which had been in progress dur
ing the week under cover of the new
points of strength has aroused sus-
picion that the whole movement was
manipulative and designed to unload
stocks A number Of special weak
points added to the difficulties of the
bulls and the money and exchange sit
uation showed the necessity of caution
for those depending on call loans
The whole market turned heavy be-
fore the closing and was in that con-
dition al the last. The days net chang
es were reduced for the most part to
insignificant proportions. St Paul rose
at one time points but its net gain
is only / "a. Peoples Gas fell an ex-
IRENE 3-S on the continued selling in
duced by the franchise tax decision of
the Illinois Supreme Court allowing
taxation on the market valuation. The
6LNNA IGNGlNtu lnSlUt 6uDDOIl anu us
net loss was only ga. The New York
municipal stocks broke sharply, ap-
paTently in sympathy with the Chica-
go stock, declines running from IA to
3-S. Amalgamated Copper was rath-
er dull and ruled below last nights
price in spite of the firmer market for
raw copper in London.
Another jump in foreign exchange
had a disturbing effect on sentiment as
al To
to the gold export point for Berlin and
Paris. Exchange experts affirm that
no loss would occur on a shipment at
today's rate. l is obvious, also, that
the requirements of these centres are
not yet satisfied. Paris took another
1000 600 from London today and ster-
ling at Bedlin fall again. The London
discount rate was pulled up to near
the bank rate, which would give OPP
portunity for an advance, in the bank
rate to be effective in restraining the
outgo of gold. Conditions thus prom
Use additional pressure on New York
The wheat exports for the week are
considerably below those of last week
thus lessening the volume of exchange
and the cotton movement does not
seem to replenish the supply of ex-
change bills
The preliminary statement of the
1NNt'-A
Ows a weak bank statement tomorrow
In spite of the payments by the sub
treasury on account of gold deposited
at Pacific Coast points, amounting t.
$2320,000. that institution has taker
from the banks a net balance of ST.
64S,0O0. The net loss to the interior or
the direct express movement is esti-
mated at less than a million, including
a shipment Of nearly $1,000, 600 to Phil
adelphia on account of the payment by
the Pocahontas Coal Company for thC
Flat Top Coal Company. The change
in the loan item is problematical L
is Supposed that borrowing in the 10
cal market for repayment of foreign
loans has proceeded this week. But a.
least one Of the leading banks ha.
been a heavy lender on call on the
Stock Exchange, reversing it's recently
prevailing policy.
Railroad bonds We're less active il
sympathy with stocks and the specu
lative issues We're inclined to react
Total sales par value 80, 1926 0O0 U. S
Is coupons advanced IA per cent on the
last call.