The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1894-08-30
FINANCIAL.
Braastreet's Financial Review.

Bradstreet's financial Review.
NEW YORK, Aug. 24.-Bradstreet's
review tomorrow will say:
The market had its intervals of hes
itation this week, but has, on the
whole, continued to show strong and
advanced tendency. Trade is largely
if not wholly professional, the public
and the foreign element exhibiting
temidity at the possibility of the veto
of the tariff bill. The large opera
tors, however, who seemed to take
the lead in speculation at present act
upon the belief that the senate bill
will become law either with or with
out the presidents sanction, while the
actions of the short interest in a num-
Der of important stocks supplied the
lack of outside buying power.
The advances which have been Sc
cured were most marked in the stocks
which have heretofore been the object
of bearish activity, notably Burlington
and Distiller's, and the market as a
whole is influenced mainly by the
prospect of business revival as soon
as the new tariff goes into effect. For
| this reason the street continues to dis
regard the accounts of the severity of
| the damage to the corn crop, the
granger stocks being the leaders Of
the advance, which, though irregular,
has extended to a number of special
! ties and low priced stocks. The bond
market continues to show activity and
the trading at present embraces a
large variety of advanced quotations.
London as already indicated has taken
| little action or interest in the market
and the cessation of its purchases has,
caused a temporary recovery in ex.
change rates. The market is not at
| fected by the rise of silver and silver
securities, due to the Chinese-Japan-
ese war, but the fact that the move
ment of the crops is bringing some
gold to the United States for small
notes and the heavy internal revenue
receipts are replenishiDg the govern
meut's Golfers produce distinctly fa-
vorable impression.
Stocks and Bonds
NEW YORK, Aug. 24.-Today, as
during the week, distilling has been
the chief interest of the speculation on
the stock exchange, by reason of the
heavy transactions therein and the
conflicting reports touching the pro-
posed loan of So, 900, 900, which it is al
legged the company is endeavoring to
negotiate or as is claimed in some has
secured. There seems to be very lit
tie doubt that the mystery thrown
around this financial transaction is for
the purpose of manipulating the stock
| in the interest of an outside operator
or clique. Street gossip has it that a
| leading director of the company is
| anxious to obtain line OF the
stock and that the announcement
of the making loan is deferred to
enable him to buy stock at profit
able figures. The shares advanced
/ &c in the early dealings, receded SC
and sold up per cent before noon.
After midday another reaction set in
of lac, when an uncontirmed rumor
that the loan had been obtained, a
sharp upward turn was taken on
heavy buying, carrying the stock up
| to 1-2 per cent from the low price OF
the morning, the last being the best
price of the day.
Sugar was an exception, and after
gain of lac around the opening fell
/ l &c to 1s2 to 3,4c; a subsequent
rally Of l Sc was made, with a final
reaction of 3.4c. United States cord
age preferred shows loss OF l l &c,
Iowa Central preferred and Baltimore
and Ohio Southwestern preferred
per cent and few other shares lsS to
3-4c. The more prominent advances
on The day were Hooking Valley pre-
ferred. 4c; tobacco, &c; Ore Navigation
go; Lake Erie and Western prefer.
red, 2 Is; do. common, l 1-2; United
States Leath preferred and New Jer-
sew Central, 4; Ohio Southern, / 2,
Pittsburg G. G. @. and st. Louis pre-
ferred, /; Richmond Terminal prefer
red, Canada Southern, Chicago and
Alton, Illinois Central, Laclede Gas
I preferred, ! per cent. The bond mar'
ket was strong all day and there was
decided Increase ia the volume Of bust
ness. the transactions aggregating 3d.
594 900. The Reading issues were
again most prominent i'll the dealings
and there was also heavy business
done in Texas Pacific seconds!
The principal advances were: Ore
gon Navigation collateral trust fives,
8: Southern Railway, fives, 12; Cen
trail Pacific skies, of '9G and gen, cleo
debenture lives, 1-2; st. Louis South
ern arsts, / 4; do. seconds.
STOCKS