The St. Louis Republic., 1904-11-19
EXCITING FURRY IN STOCKS
LASTS BUT A SHORT TIME.
SUGAR AND AMALGAMaTED
COPPER THE CAUSES.
Secretary Shaw's Call on Nation
al Banks and Setting of Time
Causes No Apprehension.

New York. Nov. 1s-There was an ex-
citing furry during the first hour OF to-
days stock market, principally due to the
continuance Of the wild movement in
Sugar and Amalgamated Copper, with
which last nights market closed. But
the edge was taken Of the movement by
the successive setbacks to Sugars efforts
to get up. by the relapse In Amalgamated
Copper and Tennessee Coal to a point
under last night and to The yielding of
Union Pacific TO the extent Of point.
As these stocks formed the main force
ton had o strong sympathetic effect on
the general market There were no other
! movements Of sufficient importance in an
upward direction to offset this influence.
There was also q resumption of violent
advances in some Of the obscure quarters
Of the list, which has grown to have
distinctly unfavorebae effect on the gen.
eral market
The days news Of actual conditions was
not unsatisfactory. The engagement Of
5000 additional gold for Paris tomorrow
and the promise OF a reflection in to-
Dorrow's bank statement OF the heavy
Withdrawals Of gold for export were with
out influence, as money on call was easy
and banks which held out for the III per
cent rate had difficulty in placing all OF
their available funds
The reports by the banks Of the weeks
currency movement by express showed a
considerable balance In favor OF this CEN
ter and the midnorth tide Of pension pay
ments is modifying the subtreasury re-
Quirements on the banks The strong
condition Of Chicago national banks a5 OF
November 10: In aecordanee with the sAii
comment. and 1t was alleged that CHI
cago institutions were seeking to place
many millions Of loans in Wall street
SHAw'S CALL
Secretary Shaw's call upon national
banks for return Of Government deposits
set definite period for that operation.
ing It which has been weighing upon the
quirement for 10 per cent Of deposits
held nf W tS 'anSa anS tSe Is and Sns
SIS, 100000, or Is cent Of holdings left to
as late as March 15. the operation causes
little apprehension.
interior is expected to have set in to
meet the first installment and the nor
NAL ease OF the spring money markets is
looked to to provide for the second in
A good impression was caused by the
reports OF the large number OF railroad
work after having been laid of during
the period OF retrenchment. Railroad
gross earnings SO far reported for the
show an increase considerably exceeding
rs per cent compared with the corre-
ponding week Of last year, and the sec-
md week earnings received to-day
showed the higher level well maintained
But the pressure to take profits was per-
eistent in the market and carried prices
, backwards repeatedly.
The result was a general showing of
losses at the last. even in stocks that had
been strong. The market closed weak on
an active selling movement.
Bonds were active and irregular. Total
sales par value s10,S80.000. United States
bonds were unchanged on call.
New York Money Market.
New York, Nov is.-Close: Money on cali
steady, 1011 per cent: closing bid 2k; offered
cent; 30 days and months. sA@4 Prime mer-
camille paper 4HH4& per cent. Sterling ex-
. change strong with actual business in bankers
!, bills 1t 4sessd4S7 for demand. and at Gsin5To
Ae&l0 fog e-day bills: posted rates f.ST4.Sb;
commercial bills f-s57s. Mexican dollars iskc.
Government bonds steady; railroad bonds ir-
irregular.
. Petroleum.
: savannah. Ga. Nov. n-Turpentine steady;
,s M hGs'1 sTsni I'm 2; nss ssso: ? seS; ssss:
: Z 80: II A.zs: n si5o: w G. s4.75: W. ". S.
q Bar Silver.
Isondon.i Nov N.-Bar silver quiet; 1eSd per
New York. Nov. B.-Bar silver ssLc.
Treasury Statement.
Washington. Nov, H..Avaiiahie cash balance
New York Stock Quofations.
New xssh Nov. M-Tolisw1ng are to-day's