| Show A RELAPSE IN PRICE Slump in Wall Street Not Easily Accounted For SECURITIES TAKE A TUMBLE Distrust Jind Incredulity ns to Van 1 txos Humors Afloat Are Given as 1 One Hcason for Drop St Paul Was Lifted by Main Force to 167 and Then Dropped Brick to 164 18 L Only a Shade Above the Lowest Prices Generally Show a Loss ou the Day SILVER New York 57V c San Francisco i London i 2rtl LEAD New York exchange 437Vb COPPER New York exchange 10 75 1700 Silver and Drafts Now Yorlc Oct 1213ar sliver 57vio Mexican dollars ttySc Sm Francisco Oct 12 Silver bais Sc Mexican dollars 47it14c I Drafts Sight Sc telegraph ike Money and Exchange Now York OcL 12 Money on call steady at 3 por cent Prime mciciintllo paper IVfrim per cent Htorlln exchange nominal wllh ncuin1 business In bankers bills at lSG I lor demand and at IS3fHSl for sixty days posted rates ISiVielSo and 187 commercial bills S lS3WiU3i New York Metals New York Oct 12Trndint In the market for mctala wan of the usual Saturday halfholldny order and values did not vary from yesterdays close Tin was steidy al > UO i < i24W UadDull at I37 > A Copper Steady lake lG = < glc casting 1Cj1rc SpelterFirm al Jl25ffl30 I Domestic iron markets were steady but dull lc lion warrants 53 y1OO No 1 Northern foundry l500flGW No 2 foundry foun-dry Southoin UOOrtoUO No 1 foundry Southern JllMKi I 1550 No 1 foundry Southern soft 1M51G00 San Francisco Mining Stocks San Francisco Oct 1The official closing quotations for mining clocks today to-day Mere as follows Alia Mexican 1C Andos r fMIOnhlr < 1 Beklicr 14Overrnan tL Caledunla Potus 0 ha Con J1Sav tige 10 ChoJInr O Seg Belthcr 02 ConLldenee IS Sierra Nov 14 C C Va 1 f Silver lilt Crown PoIiit ° Standard C C O Union Con Ii i a Utah Con 02 JUtlco 02 Yellow Jacket 03 Ocekiental Con 03 NEW onic MINING STOCKS Adams Con LIttle Chief 12 Allco Ontario 1073 Brccco llOOnhlr GJ Brunswick OG Phoenix 07 4 C Va lGOPotosl Pcadwoofl SOSavago Mi Horn Silver ll3 Sierra Nov 10 Iron Silver C2 Small Hopes 40 Leadvillo Con 05Slandard 303 BOSTON MINING STOCKS Advehlur6 2I7 IHumboldt 500 Atniilg Cop S < tfl2lPurroL v JOOO L Atlantic 3550 Qulncy 1C300 I Blngham 31 CO Santa Fc Cop 500 Cal it Hccla t0 CO Utah 2IM Centennial 2150 AVInona 200 t Frinklln 175 Wolverine ClOD Osccola 10330 i I Grain and Provisions Chicago Oct 12At the outset thc wheat pit felt the depressing Inlluence of illsnppolnllrg cables The advance hero yesterday had met with no response and December opened ic to Mio lower at S tg to ffytfiCWiC OtferlnH were liberal n the start but the actual selling was on a small scale and of a nature that Indicated In-dicated a desire on the part of the buyers deprens the market with a view to buy Intr In again Commissionhouses began to buy l and a report of a wood demand for the Sonllmosl and N jw York brought an upshot In prices until December sold at oc Local iradcrs also helped by eon nlflornblo buylifc but toward the end of tho short ocsslon prolltlaklnf eased the market and December closed steady a ihiidc higher at 70570 0 Torn lost the greater part of the bullish Jntluenco of the official crop report which advanced prices yesterday Trade was dull and offerings were rather liberal December De-cember closed weak c lower ai CG c December oats wero dull and narrow Tbo close was a shado down al 35lic Provisions were higher not so much from any particular demand as from Iho cessation of the outside liquidation that has been depresblnp iirices for over a 1 wuek January pork closed 15Q17 c higher S high-er lard lOc higher and ribs lOgJlic up RANGE OP THE LEADING FUTURES Articles Open High Low Close Wheat No 2 I October CSJ4 December C9i 70 G9 04 May 73A 71 t lift 12 I Corn No 2 October 55A dari 55l 55A I December 5ri G7A wh W I May 5S 50 5SU 5Syt Oats No 2 October 3I6 31s > 3I AK December KM i 33 a5 > 1 3S14 May 37 37 = i 37 = 4 27 i Mean Pork Ortobcr 1195 January 1310 13 HO IS 10 13 20 Ttluy 1520 xluZ3 1520 1530 lard October 943 QA > UJ2A Oi2 January OCO UO JiOO 007V MKV OCO 910 900 n071i Short lllbs Oriobor 837W SS7Vt > S3Q ffKA January 700 800 787 797i < lay > 707 A S10 7S71A 803 CASH QUOTATIONS Cash quotations were as follows Flour stwulyj winter patents S320fi3ro I tra ighte 2tOfiICO clears 2Cvii3C0 I PPrtng spls 5100 patcntu f310 3K3 I Sralittg 270t 10 No 3 spring wheat 6V1isc No 2 red 70jC 71u No 2 oats Xo 2 whit 5iJSc No 3 white 37Vi tLNo 2 ryo Ki iffGGiiiC fair to choice illllll UiVJMIMVi i > U 1 IILLA seed < > leOI 1S3 No 1 Northwestern 3152 mesa pork Ttr barrel JlloOfllQj lord per IOU Kiuntl bl2 > 45t01 > short ribs sides lloofi js25Ji840 dry salted shoulders boxed 7 < jx 47vtc short clear sides dmtd JSSWHW whisky basla of high Wine 51J cloVcr contract grade SC3 RECISIPTS AND SHIPMENTS Articles Rccps Ships liur Jmtels 2SOOO 3l0 hcatWuihhuls 105000 IUXi I orr blfehtls 2530 WCOOO Oals Uunhds 217000 1C3000 1tye MjUBhQl TCOO Barley bushels 13000 7000 PIIODUCE EXCHANGE On the produce exchange today the but wr market was steady creams 1ifl2l nalrlca iMjiac cheese steady yL1tc cst Jlrm fresh 17340 Coast Grain San Franelco Oct 12WhcotTCnalcr Dccmher rv sic spot nnnor 05flOJ4o CornLarge yellow quiet but firm l57j fl 1c2i BarftyNo wales cash 71 i < 373ic New York Sugar Uarkct Newt York Oct XrAnJi0rkl 1SugarSlcady mar 2e refining 3ElCc centrifugal M teat ho muiagcg sugar 3c refined toady I5 No 7 1l0 No 8 i20 No 9 lL1 No 10 lL0 No 11 J1 No IZ NO13 4tJ3 No 11 i0 staIllard A COI3feetlrnn A Sl90 mold A 45 3L loit p00 crushed 3OU nowdered 2O granuiatj 1510 cubes 3t > j L Butter aDd Eggs New York < Oct ButlrrRecelpls e ilmop7 steady State dairy H jMc lAcfoo l121c Jull ° c ancry 1721o taetozy I2415c I EBSC Rccelpis 6S03 paclages steady Western candled 212I rc uncandled 17 j 91e Wool Shipments From Ft Benton TRIBUNE SPECIAL Boston Oct 12Thu wool shipments from Fort Benton Mont ibis season were 1963000 pounds against 1312000 last year They Include fiftylive cllpu largo i and small and paid rrleght nt the rato ol 5153 to Bobton Less than 10 per cent of the I iotnl was shipped In by rail and the figures although a big reduction from j the high mark of 1SSS show that Fort Bcnton Is still the center of a region producing pro-ducing an Immciibo amount of wool Copper Exports for September TRIBUNE SPECIAL Boston Oct 12Total exports of con per from Atlantic ports for tILe month 01 September amounted to 5JSI tons ot copper cop-per and 727 tons of matte Reducing the 1 malla al 53 Per cent Into flnir copper the total exportation lor Soplomber wag KX > 1 long tons as against GSIO tons for the previous month and 10423 tons for September Sep-tember 1000 Total exports since January Janu-ary but exclusive of Southern ports wore G9fCO tons compared with 120591 ions during the corresponding period last year Weekly Bank Statement New York Oct 12P110 statement the associated banks for the week ending today to-day shows i Decrease i Loans S70SOO7f0 2GriiMO Duposlls 9I2CS39W 45C4CCO I Circulation MbXJbOO 383CO Legal tenders 70053500 4I02CO Spcch 152501000 2H7200 Rescrveb 253113CO 1707010 Ucservo requirements 235C7l225 21CG05 Surplus 1745 175 1923150 Increase The Financier says The statement was again made on rlslncr averages lor cash as has been the caso In iccent weeks The subtreasury paid 5IWOJ on Friday for Yukon gold and there were other payments pay-ments by this office which materially added to tim banks cash at the end of the week More Yukon gold IK now In process pro-cess of transfer hither from the Pacific coast TUB will be received in the current wcck and there are about 000000 of maturing ma-turing bonds uhlch have been accepted by the Secretary of the Treasury which bonds will arrive In the Incoming steam era It would seem provable therefore that the banks will begin the new week wllh a supply of cash considerably greater llniii that shown by the statement The payments of municipal taxes last week were about 25000000 and this amount of lax warrants was also liquidated liqui-dated The fact that the Joan Item did not fully reflect this lurgo liquidation would sccin to show that the greater part of the money released through payment of the warrants was Immediately ro loaned This would Indicate a disposition on the part of the banks to expand loans which they would seem to be justified In doing considering the comparatively largo surplus reserve now being carried Jt Is noteworthy that the acale of operatlona of the smblronMiry last week resulted in a loss Co the banks of 52070700 Thesa excess receipts over disbursements will doubllcs Increase tending ultimately in an Important decline of bank reserves It Is unlikely however for tho reason above noted that this absorption of surplus by tIm treasury will have a deranging effect en bank conditions In the near future Stocks and feonds New York Oct 12TILe cause of the relapse of prices In todays stock market was not altogether clear but the sumo was trUe of the sudden advance of yesterday yes-terday anti the day before Distrust of that movement and Incredulity as to the rumors which were act afloat lo account for 1L because of some Intrinsic grounds of improbability seemed lo bo tIm reason for todays reaction The same brokers commonly supposed to act for the same large standard Morgan Mor-gan Uarriman and Gould interests were active In buying and bidding up stocks today ns they were yesterday SL Paul was lifted again by main force to 1G7 but the lust price was IGI6 only a shade above the lowest the course of thai stock forming an epitome of the whole market Tho Central and Southern transcontinental trans-continental stocks were nearest to it in point of activity but the advance showed a tendency to nprciul beyond yesterdays narrower limits until the enormous realizing realiz-ing forced prices back Prices generally show losses on the day running from 1 to 1 = 1 in tho leaders and from that up to 3i in St Paul and tho local traction stocks which were notably weak throughout Tho decreased loan item of the bunks failed to show the full effect of the repayments re-payments during the neck Of some 15 uOOiXxi of New York city revenue warrants war-rants and the supposition was therefore made that foreign bankers continue their borrowing In the local market lo repay foreign borrowings The disturbance in the Paris money markets point to the llekllhoocl of a continuance of tills process pro-cess The market closed weak at the lowest There has been some upward action In ho alock market during the week followIng follow-Ing the rather prolonged period of depression de-pression The presence of liquidation was distinctly relaxed during the early days of the week but there was manifest lies tatlon about taking up the movement for an advance and even the uncovered bears were not apparently In great haste to cover their short contracts For several days tho market wavered before a pronounced advance drove the bears lo cover The opposing arguments of the speculative clcmonl now represent the belief on the one hand that the dc rcsslon in the stock market has had no other cause than the depletion of money supplies by the autumn requirements uid on the other hand the impression thai the last great cycle of prosperity has reached lu crest with a prospect of gradual decline and shrinkage of business busi-ness and earnings lo be faced The lust named element arc confident lmt the seasona Interior requirements or money are about satisfied or that the lank are In posaesslon of sufficient rc eourccH at present to meet the demands without forcing further liquidation In the stock market It Is argued that sur j1us reserves of the banks now are 517 483173 compared with SIIC3033 at this time laat year and 1177350 In 1SOO The new movement of currency to the Interior Inte-rior lust year after this date amounted to S15S52000 and terminated In the last week In October In 1SSD the movement continued Into the third week of November No-vember but the amount moved after this date was only 1155W Last your however there wan a freo movement of gold from London during Oclober This year there lci no prospect of such a movement The cotton crop has been very slow In moving and this may Involve a considerable consider-able further demand for currency from the South with the possibility of a resulting re-sulting prefsuro upon the exchange market mar-ket that may bring gold Nothing in the recent markets has so clearly dcmonslrulcd the extent to which capital wan embarked In the enterprises en-terprises of the boom period of this year as Ihu recent course of the foreign exchange ex-change market The employment of hundreds hun-dreds of millions of dollars by capitalists and syndicates In tiLe furtherance of community of Interest projects umonfr the railroads and In the formation of the United Slalos Steel corporation was well known to the public and there wero self congratulations upon the unruffled com poaure of our money inmkot under the unprecedented demands put upon it The summers oventc Indicate that not only our own money market but those of pretty much the wholu world besides were drawn upon to provide the credits for the undirlnklngb of American syndicates syndi-cates These foreign borrowings have apparently ap-parently Involved the Bale of bunkere exchange bills of distant maturities wjilch were left uncovered relying upon the autumn outward movement of mcr ulmndlbc lo replenish the supply of exchange ex-change and enable thorn to cover The belated movement of cotton the decreased de-creased corn export and the falling off In manufactured products espcciallv iron and copper haVe kepi down the supply of txchangc and have mado this repayment repay-ment of foreign loans especially directive in sustaining the exchange market and keeping It away from tho gold Import point Moreover the repayment of these foreign loans has been followed to a largo extent by reborrowing In this market so that the loan account of the New York banks has been maintained In spite of the extensive liquidation In the stock market These are symplomo of the extensive lockup of capital not to be Ignored and they bring forward the problem of how I far tho ycarx great financial projects will warrant the sanguine expectations of them during the upictilatlvp cxclte meat of last year The panic in May caused by the Northern North-ern Pacific corner and Iho assassination of President McKinley unset the Calculations 1 Calcu-lations of those promoters und their original prosperous fiffortn to distribute the crop of securities which woro Issued to reimburse the syndicates for their outlay and in their elaborate plans for the recuperation of the market to unable them to renew the process of dislrihii tion WIth the addlllonil outlay made noceg nary by the measures for supporting tim market the coming of the untunm re qulromcius for mionny forfcd nomnre trenchment which exposed somo wellk xpots In the market especially among the minor Industrial which have notably affected af-fected tILe public confidence In securities The future of the market la by no means L clear although tho usual upward reactions reac-tions which are normal to any decline In stocks are bound to occur Expert views on the outlook In the Iron Industry aro not all sanguine Present Pres-ent activity of production Is held to bo duo to making up orders delayed by the steel strike and some eagerness Is shown to secure contracts running Into next year A session of Congress Is a do pressing influence by tradition upon the Block market especially horo a revision of the revenue law Is In contemplation Speculative sentiment is therefore somewhat some-what Illdefined Railroad bonds have been in better demand de-mand at somo advance In prices United Slates new 4s advanced y per cent over tho closing call of lost week BOND LIST U S ref 2s rcglOO U S 5s COUP Sl07n U S ref 2s coup 100 Cob So 4s 57 U S I js rcg 10714 D Jfe R O lH1024n U S 3a coup108 Nor Pac 4s10114 U S n 4s rcg139 Nor Pac Cc Kf U S n 4s coup133 So Pac 4s W t U S old 4s rcg112 So Railway 5su7Vj U S old Is coup112 Union Pae 4s 10314 U S 3s reg 107U P com is107 CLOSING STOCKS Sales High Low Close Atohlson 35200 S > 7814 7St preferred 1000 97 80 Wjjfc Bait O 1EOO 101 lOOVt 100 preferred 93 Can Pac 5IW 112 110A 110Vt Can Bou 100 SlA S3UJ KJVi C O 000 157415 i5 Chic Alton 1800 a 1i ta preferred 77 Chic Jnil 1 lOt 4131 ilri lJi1 preferred 3U > 72A 72 7l l CEJII liO ChlcGtAV SCO lEV 22i 22 A pfd SIB SI-B pfd 000 44 41 l i 41 Chic N W 300 195 lSG < ri 195 C R Isl Pacv 1400 H3 i ll2Vj 11216 Chic Toy Tr ICO Gift 21 21 preferred CCO sou so S C C C St L 100 OPt 97 97i CoI6 Sou 2X 13i 13 13 1st pfd lw 5l1t fl4 51 2nd pfd 100 24VL 21 21 Dela Hud 700 ICG ICC 1CI D 1 V 223i D it R G 100 45U 45U IF preferred 300 02il 92i 92 Erio 17000 12 i 41 41 1st jiid l7n 70V1 GOJi G9 2nd pfd 100 56 M 54 Gt N pfd 1000 104 103 191 Jlocklng Valley 200 13Vt 63i 13 preferred w 71 ill Cent lGOO 1J7 143 113 Iowa Cent 900 41VI 40 404 preferred 300 7S 77Ji 78 L Erie V 3800 71 = 51 U9 CO preferred 12G Louis Nash 2100 104Vt lOt 103t Manhattan L GSOO llMvft 119 i10j Met St Ry 12COO 159A 153Vt I3 Mexican Cent COO 23 23U 2351 Mexican Natl 29200 15 > 1is < 15 Minn SL L 103 Mo Pac 23COO IS i 91 9V MKT 30i 27 r12 ajA preferred 400 52X 52t S2 K J Cent 1GO N Y Cent 3COO 1573t lffi4 1IAJ Non W 3200 53 55 GSVi preferred SS N Pac pfd JS Out V lSW 3i4 33 > A 33 Pennsylvania 10500 14G USft llvA Reading G400 IIV 40 401 1st pfd 200 7G 7G 70A 2nd pfd POO 52 11 51A St L S F 300 52 62L 41 1st pfd 779i 2nd pfd 100 C7 0711 G7 StTjSV 23 preferred GOO 57ii C7 > 1 571A St Paul 02400 1G7J 1W 1G4 > preferred 400 ISSVi 187 1S7A Son Pac SICOO CO 591 5916 Son Ry 4000 83 < 32 52 preferred i lCOi 9C i S6i 8G A Tex Pac > V 1300 41 > A 401f 4W T Si L t 21tf preierrcd j 35II Union Pac t 71COO 1CO1 PS 90 preferred > 1100 S8i SS SS i Wabash i 3600 2Ui 19 = t 1D3 preferred 2300 3SV < 364i 365i Wheel L E 100 IS 18 17A 2nd pfd 23 Wls Cent 200 2H 21i < i 21 preferred 400 1F1 41 41 Express Companies Adams ISO American 1SS Unite States 00 Wells Fargo ICO Miscellaneous Amal Copr 17300 90 S3 RSYi Am C F Co COO 25 25 Zr preferred 0 Am Linseed Oil 15 preferred 45 Am Smt c R 3100 44 131 ISld preferred 800 93 95 97t Ana Mg Co 400 3Cyt 3ui 3G 4 Brook H T 15100 Glt S0IAJ 6O4 Icohopr COO 13 92 92 b Con Gas 700 2187 217 2ic < Coal Tab pfd 115 Gen Elec 200 25SV 255 251 Glucose Sugar 300 47 > 4Gi 4G lull Paper 200 231 23 2Z prcfened 78 lull Power 200 Si SD S3 4 Laclcdc Gas 91 t Natl Biscuit 200 42 42 42 Natl Lead 1 100 SOVs 204 20 Natl Salt 100 M 33 32 preferred s ioo c3 6334 63i No AmerIcan 1 1000 OS 97 01 PacCst oo as 65 60 lne Mail 800 11 i34 434 Peoples Gas 1101 101 IG4 103 Prsd Steel Car 400 30 39 preferred 7s t Pull Pal Car 216 Rep Steel 700 5L 15 15 preferred POO C7 GO GG Sugar GSCO 1121A 118 IIS Tcnn C I COO CDI6 GOVL GOV4 Union B P Co 13 > 4 preferred TO U S Leather SCO 12li 12V 1216 preferred 100 SOVfc SOii 0 > A U S Rubber lCOO 1514 15 11 preferred BO U S Steel 11900 43 43 43 preferred 5930 9lft 93jA 91 Western Union SOO 52i 91A 91 St Louis Wool Market St Louis Oct WoolSteady Territory Terri-tory and western medium llfflG c lIne ll15 c coarse 12igl5c San Francisco Wool San Francisco Oct 2Quotations on wool here today wore Spring Nevada 10ffl2c eastern Oregon 10Q13c valley Oregon Or-egon ISffinc Fall Mountain lambs 73 Sc Humboldt and Mondoclno 10gl2c Live Stock CHICAGO Chicago Oct 12 Cattle Receipts 1200 Including 4CO Tcxann good to prime ateero SJ03 < JJG 5 poor to medium SK > Go90 stookcrs and feeders J3007330 cows Sl 3 cl I00 heifors 20Cri1O0 canners I2i 225 buhis i75I75 cnihc 30G7625 Tuxas stceis Westerns 3G59 550 Hogs Receipts today SOOO Monday 24 061 pnckera slow others strong to Be higher mIxed and butchorf 6O640 to choice hiqavy 650iC 65 otigii Lieavy cSOiG16 iight 6GOG3 bulk of sales JoSUifG20 Sheep l1ccolpL r 20CO slow steady at Fridays decline lambs steady good to choice wether 3COW1D0 fair to choice mixed i2003EO Western slCc fl 280 native lambs iOO50Q Western lambs 323S475 323S475ST ST JOSEPH St Joseph Oct 12 Cattle Receipts 70 market nominal nnttlve 2SjGC0 fox ans and Westeniis 263t3E0 cows uud heifcrn 1J31O bulls and stn 200 5J9 stockers awl fedcrs 15Oicl3Q year lings and calv s S200tflOO veuls 0tflj CW CWHogs Hogs Receipts 4COI market strong to 5c higher pigs steady light and light mixed j0Jil > 27i medium and hoaxv 9 lofrtiiO plgB l7G1iG10 bulk 5474 < Cfo Sheep Receipts none lambs 37uiyiGO sheep J3CQfa359 ewes 275q3l3 KANSAS CITY Kansas City Mo Oct 12CattleTie cclplb M Unchanged from Fridays close Hogs Rccclpls COCO Cc higher Bulk of sales Htfffi10 No Hlicep OMAJ1A Omaha Neb Oct 12Ca ttleIicccipts 150 Ioninnlly stcaily Nnti beet steers It0061U Vesterit steers 175i 423 cows and buffers 27Sg3i0 bulls inings etc S2WE75 Hogs lipceipta 17CO Active Gc higher Heavy 62Oj60 mixed JC2 < > ti322 uehi WlGfjO20 bulk of sales JCa Gii ½ No shed DENVER Denver Colo Oct 12CattleRb cclptu 4IXX Easy JJcnf steers 3 > yi0 cova 173GO stockers and fccdura freight paid tn river 300ff420 bulla stags etc 2COfi2W No hogs or sheep |
