The daily morning journal and courier., 1905-10-24
EsinHuriaI.
=, - . -==------=========== YES1lERDAK'S STOCK MARK ET
Speculative Movement, of Last Week
 Continued.

New York, Oct. 23.-To-dav's stock market continued the speculative move- rnerlt inaugurated the latter part of last week. The market was broad, active ana strong and showed itself suscepti- Die to some of the normal influences in- separable from a speculative move ment. That is to say it was under the necessity of absorbing the large amount of profit taking to-day as the result of the attractive profits accrued on last weeks advances. It was found that the livelier tone of the speculation of last week had induced some growth of outside demand for stocks. This facilitated the process of digestine, profits and it was accomplished without serious damage to values. Some of the stocks which were strongest last week were held back by this process through out the session, but the strength never theless was well diffused and pretty general. The conspicuous feature, of the trading was by all odds the prominent part still played by the industrial stocks of the lower grade in the speculation In the list of gains of one point and upwards on the days transactions no less than forty of the industrial stocks and specialties will be found to figure While the railroad list was not lacking in strength this showing serves to throw that part of the list effectually into the background, Only handful of the most prominent active stocks moved as much as a point and they were late coming into the movement. St. Paul was the first of the railroads to show strength, which was coupled with professed expectation of an early announcement of the supposed project of an extension of the line to the Pa- cif1c. The equipment stocks naturally held the foremost place in the move nent in the industrials. The extraordi- nary demand for all kinds of euuip- nent for railroads explain the large degree of the demand for these securi- ties. Reports were in circulation before the opening of the stock market giving extraordinary figures of the orders re- ceived by the Pressed Steel Car com pany and, in pursuance of this intima- tion of speculative favor, that stock was a leader of the upward movement. The natural easing of the money mark ct continued in evidence both for call loans and time loans and no check was offered to speculation from that source. Foreign exchange continued very firm and the demand for remittances unim- paired. Call money in London rose sharply in connection wit hthe putting aside of $5,O00,00O by the Bank of Eng land for the Indian council to replace that amount of shipments from India diverted to Egypt. The discount rate at Berlin also hardened again and ster- ling exchange at Paris dropped back. With the approach of the foreign ex- change rate here to the gold export point the course of foreign money markets is scrutinized very closely. The taking of profits on the days rise im- paired the gains considerably and the closing tone was easy.
 Bonds were steady. Total sales par value, $S.970,000.
 uited States .2s declined Is on call.
 NEW FORK STOCK MARKET.
 Opening, Hlghest, Lowest QuOtntIonA
 On the New York Stock Exchange