The San Francisco call., 1901-11-01
EASTERN MARKETS.
Ne7u York Stock Market.


NEW YORK. Oct. Sl.-Except for special
averages in'a few individual stocks, to-day's
nar1e. down near stagnation many times
There pressure to sell, but prices
gravitated TO a lower level owing to the par
alysis Of demand. The central cause of this
state OF affairs was the advance in the dis
count te Of the Bank of England to 4 per
cent compared with the per cent rate which
has maintained since June l3 last. This gives
unmists kable notice that further demands are
pending upon the banks stock of gold, which
the rise in the discount rate is intended to
protect by diVerting the damage upon New
York No doubt seems to be entertained that
this object VIII be achieved. In fact arrange
mSnts were perfected to-day for shipments of
gold TO Paris next week The weekly state
ments of the Bank Of England and the Bank
check tie rencls demand upon their reserves
and as clearly the necessity of the latter for
gold during the week what the English bank
has lost. In Paris the requirement is supple
mented by a pending Stock Exchange Settle
ment so that the bills discounted have been
increased nearly S45, 900, ,0G0 and the note circu
lation has been exDanded over $50. 0oo. 900 dur
ing the week. These conditions serve to ex
plain the large recall of Paris credits which
has been going On for some time past, although
it has been suggested also that foreign lenders
of money are thus expressing dissatisfaction
with some Of the syndicate purposes to which
the borrowed funds have been put The gold
to-day, bringing W. the days gain by
that Institution from the open market
last to s3.GS3.C00. Chicago exchange on New
York also weakened to-day and $4,000 was
deposited at the Sub-Trea sury for trans
fer 10 New Orleans On the other hand the
Sub-Treasury paid out over half a million
dollars en- account of gold deposits at San
Francisco and Seattle and made a payment of
$l13, III for redeemed bonds, thus clearing up
the last of the acceptances under the late offer
Of the Secretary of the Treasury. Renewed
doubt TO the extent to which the foreign
demand for gold may go chilled all speculative
enthusiasm Hopes are Drofessed that to-mor-
rows dividend and interest disbursements will
soon came back to relieve the money market.
but this did not seem to revive any feeling of
cheerfulness in the stock market. Neither did
the announcement Of the determination of the
treasury to resume bond purchases, altnougn
the inclusion in the offer of long fours is
likely to attract considerable tenders, judging
by the experience of the past summer. Among
reason assigned were Delaware Lackawanna
and Hudson, a number of the Vanderbilts and
Chesapeake and Ohio, the last on Philadelphia
Anal gamated Copper was depressed upon the
inclusion of plaintiffs in Montana suits
agar s. TIE company. The stock closed above
the lowest The Northern Pacific settlement
fell into the background with the heavine SIS
and neglect of the Paciflcs, which continued to
the close and made the market easy. There
was considerable selling in United States
Steel and Glucose and Smelling were weak.
There were some strong spots in the bond
market. but the price movement was 1rregu-
lar. Total sales 81. .1s5. 900. United States
bonds were all UNCHANGED on the last CALL
NEW YORK STOCK LIST