The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1894-09-05
FINANCES AND COMMERCE.
New York Stock Market.


inRs at the stock exchange were charsc
terized by hrmness. and even Sugar,
which has been under the hammer for
some time back, developed Q little more
strength. This was succeeded by 8
weaker tone, London having sold soue
Louisville and Nashville, which was
accepted by local bears, who were bear.
ishly inclined, as indicating change
in sentiment on the part o, foreign
operators. That tho Foreigners should
think of accepting profits III this stock
after lis recent ton point rise, did not
appeal to the bearish fraternity. In
fact they forced the issue and extended
their lines, especially in the Grangers,
which, they argued, would have 20 go
lower on account OF the leaders forest
fires in Northwest following the partial
failure of the corn crop and the poor
showing OF earnings made by the Rock
Island for August.
Except in the stock named which sold
down from G536 to 645S they met with
poor success st. Paul refused to yield,
and in fact held strong, the increase in
earnings for tho month Of August
operating against the seller Sugar
after its early fractional gain dropped
l Il to 1885 and Chicago Gas was also
heavy selling down to TAX on the story
Of big gas war. In the meantime
Western Union had become strong and
had gained nearly two points, selling
up to 91T. This rather disconnected
those operating for lower prices and
about o'clock there was q scramble to
cover. Previous to the time mentioned
there were indications in General Elec.
trio. Canada Southern and Rock Island
that somebody was feeling for stock.
Bids for the issues named were made
at frac tional advances above the last
previous sales without bringing out any
stock, With the result Of finally making
the shorts pay the holders prices.
In consequence Sugar rose 2ss to 15O%;
Wee fern Union. 2; ST. Paul, lx; Rock
Island, TX; and Burlington and Quincy,
n; Canadian Southern, IL; Big Four,
/; Louisville and Nashville, 1; Northern
Pacific preferred, r.; Missouri Pacific,
~ Northwest, 81 Omaha, 4; General
Electric, l%;Cordage, u; do. preferred,
1; Lead, / Is; do preferred, IL; Cotton
Oil preferred, Is, and Manhattan, 2L;
Pan Handle common, III, and preferred,
2%. The last named figured more prom
inently in the dealings and were un-
usually active. The rise in the market
was generally ascribed to manipulation
by pool which has been credited with
bringing about the recent wide changes
in American Sugar. They now, so the
street story goes, have turned their at
tention to the general list. This as it
may it should not be forQ often that the
settlement of the tariff question, at
least for the time being, has stimulated
trade.
General business is better and rail-
road earnings made pretty good argu-
mont in Wall street, where sentiment is
the controlling factor. Net changes
show gains of Il to 3 per cent, Western
Union and Manhattan leading. The
market closed strong. The bond mar
ket was active and strong. Sales Of
listed stocks aggregated 1877 900 shares;
unlisted, $1,000. Treasury balances:
Coin, SIS, 463, 900; currency. SOS, $50, 600.
Money on call easy at per cent. last
loan at one and closing offered at per
cent. Prime mercantile paper. 4@4%
per cent. Bar silver, 65H. Sterling
exchange weak, with actual business
In bankers bills at 4s5A@4s5E for
sixty days and 4s6@4s61 for demand F.;
posted rates, 4S5N@4s7. Commercial
bills, 4s4@4s4d. Government bonds
steady. State bonds dull. Railroad
bonds strong. Silver at the board was
&C bid and 81 asked. Norfolk and
Western closed at 26.