The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1894-08-15
FINANCE AND TRADE.
The Days Business on the New Yori
Stock Exchange.

The Days Busineas on the New YORK
Stock Exchange.
NEW YORK, Aug. l4.-Wall street has again
proved it is not entirely safe to take It for
granted that speculative moveme nts on the
New York stock exchange are certain to be
made up on lines which public opinion might
regard as logical sequence OF crop eondi-
tons Asa matter of fact, the street finds de-
nghtin furnishing surprises to its habitues
from which no profit ever accrues to the out
siders. Last evening the share market closed
strong, ana there was buoyancy to the late
trading, with promise of increased strength.
The tariff bill had been passed by both houses
o. the national legislature on the lines laid
by the senate: the bears were jubilant; trust
STOCKS were IN Dad repute; the crop reports
were more favorable; rain had fallen In the
corn belt; grangers were being bonght back by
sellers OF few days ago; the general situation
was improving; sterling exchange was easier,
ana the now oil gold was about to turn west
ward These were the conditions which con-
fronted Wall street this morning, and, as II to
give still more rosy hue to the situation, the
LONDON market came In strong and there were
good foreign buying orders.
On the board at the opening, 1t was expected
that the 0rst prices made would be higher than
those OF the night before, and, as q rule, they
were. Some of the shorts were urgent 20 cover
and Tiers was not little buying for We long
account. The amateurs doubtless believed
steady and healthy appreciation in values had
set In; but the professional tpeculntors, the
cliques ofinsiderF, were not ready yet to let the
market go out of their hands. and SO the usual
tactics were employed TO cheek the upward
movement VIII CO has been in force.
The sugar pool took turn at hsmmering
their own shares. The secretary of the trust
had given out a letter he had written. denying
that the com pany had purchased Sll2. 00O,-
600 worth of raw sugar, and putting their pur-
chases a. only $l2, 00o00J. thereby cutting
down the alleged prospective profits to COM
parativey insignificant sum. II was rumored,
too, that the free sugar bill was dangerous. An
early advance of &C on the stock was quickly
wiped out snd a break OF 5ls per cent was en-
no ders of the shares down easily. big stop
order was caught on the way down, for which
lower figure there was good buying and q re-
covery WAS made to 1925, the osing prices
being q to "a below the closing sale of yester-
day. sugar Preferred lost &c.
The grangers opened higher except for Bur
lington, which was unchanged. The renges
were fractional, except in st. Paul, which was
up IA. The whole group took an early drop
in common with the rest of the market, the ell
tire list becoming unsettled and huctuating
widely in many cases and with much fro
queney. The irregularity continued until the
late afternoon, when strong tone was infused
into trading and rallies were made which
wiped out the early losses and in a majority of
instances advances were recorded on the days
The bond market was strong and active all
day and most of the shares were traded in
largely.
quiet.
MONEY QUOTATIONS..
NEW YORK, Aug. 14.-Money on call, easy,
at per cent; last loan at l per cent; closed
at per cent.
Prime mercantile paper-3@5 per cent
Sterling exchange-Weak, with actual bust
ness in bankers bills at $487l49l 37l5 for
demand, and "a. 81 "a s715 for 80 days
Poeted rates-S4. 81. al. SSl3
Commercial bil,s-S4S54 SO.
Silver certihcates-64g64.
SAN FRANCISCO, Aug. Insight drafts on
New York, per 800, 10c.
Sterling Bills on London, bankers 60 day
bills $4SSl4.
LONDON, Aug. 14.-Consols, 1O2 1-16.
Bank of England discount rate per cent
STOCKS AND BINDS.
Nrw YoRK Aup 14-The closing gu Citations