The daily morning journal and courier., 1901-10-26
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Z 4 SIO OCk " Rk ET.

| Market.
 New York. Oct. 25.--The bulls had hard work to sustain tre market to-
 day. and the efforts to continue the ad-
 vance were frustrated by the realizing
 encountered. The coalers continued to
 move upwards this morning and there was revival of the bull movement in
 St. Paul. But the heavy realizing
 which had been in progress during the
 week under cover of the new points of
 strength has aroused suspicion that the whole movement was manipuative and desgned to unload stocks. A number of special weak points added to the diff ficulties of the bulls, and the money
 and exchange situation showed the ne-
 cessity of caution for those depending on call loans The whole marked turn
 ed heavy before the closing and was in that condition at the last. The days
 net changes were reduced for the most
 part to insignificant proportions. St
 Paul rose at one time points, but its
 net gain is only 1A. Peoples Gas fell
 an extreme 22s on the continued selling
 induced by the franchise tax decision
 of the Illinois supreme court allowing
 taxation on the market valuation. The
 stock received inside support and its net loss was only three quarters per cent. The New York municipal stocks broke sharply, apparently In sympathy with the Chicago stock, the declines running from 1A to 3s. Amalgamated Copper was rather dull, but ruled be- low last nights price in spite of the firmer market for raw copper in Lon don.
 Another jump in foreign exchange had a disturbing effect on sentiment as rates are now brought to a level near to the gold export point for Der lin and Paris. Exchange experts affirm that no loss would occur on shipment at to- days rate. It is obvious also that the requirements of these centers are not vet satisfied. Paris took another $1 ,00O, 900 from London to-day, and ster- ling at Berlin fell again. The London discount rate was pulled up to near the bank rate, which would give op- portunity for an advance in the bank rate to be effective fin restraining the outgo of gold. Conditions thus promise additional pressure on New York, The wheat exports for the week are consid- eraby below those of last week, thus lessening the volume of exchange and the cotton movement does not seem to replenish the supply of exchange bills The preliminary statement of the cash by the banks foreshadows a, weak bank statement tomorrow. In spite of the payments by the sub-tre ury on account of gold deposited at Pa cific coast points amounting to s2,320- D00 that institution has taken from the banks a net balance of $1 ,64S,000 The net loss to the interior on the direct express movement is estimated at less than million, including q shipment of nearly g, 100000 to Philadelphia on ac- count of the payment by the Pocahon- tas Coal company for the flat top coal 
 The change in the loan item ia prob ematical It is supposed that borrow Ing in the local market for repayment If foreign loans has proceeded this week. But at least one of the leading banks has been a heavy lender on call ,n the stock exchange reversing it's re- ,ently prevailing policy.
 Railroad bonds were less active in with stocks and the specu- } ative issues were inclined to react. The otal sales par value aggregated $2,- 25, 900. I
 United States threes coupon advanced ( per cent. on the last call
 AEW YORK STOCK H4R KEr pcning, Highest. Lowest Quotation I In the New York Stock Exchange. reported " by Prince & Whitely, Brokers 15 Center I street New Hayeu.