The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1897-07-13
The New York Stock Market,

NOW 1UTk. July IW--IWe GAN = mlrkat
for stocks was devoid OF interest Today
was "A holiday on the London exchange.
The actual tone impaired to the opening
hour by London was lacking. The whole
temper OF the stock market. Furthermore,
has taken on a waiting disposition
Transactions on the exchange In the ag-
gregate reached barely half "A hundred
thousand shares sold and one-fourth of
this amount was Sugar. This stock was
erratic during the day. on the conflicting
rumors regarding the tariff, but did not
move over "A very wide range. II nuctu-
ated above last nights close during the
whole session at one time. going II. above.
but closed with n fractional net gain.
Only ten other stocks were dealt In TO
the extent OF 1900 shares. The grangers
were most active next TO Sugar and en-
joyed continued benefit from the reports
of good crop prospects. New York Cen
trail was active and higher ON account
of the persistence OF the rumor that its
leading interests We're about to secure
control OF the Lchigh Valley railway.
Pacific Mail added a fraction to it's price.
owing to the continued belief in AN ad-
ditiOnal dividend to be declared. Chicago
Great Western. Des Moines and Fort
Dodge. and kekouk and Dcs Moinos. pre-
ferred, continued to improve under mark
ct operations of inside interests. the lat
ter stock advancing Az points. 81. Paul
ment OF gross earnings. showing an In
crease Of over 81 1000. Minnesota Iron rose
a point and Rio Grande Western, prefer
red, ia. The Rubber shares were heavy.
The close showed a majority or stocks a
| small fraction higher.
The stock market retained It's usual
midsummer lctharEy during the week.
There have been indications OF strength
on several days during the week, but the
upward movement was fcobl" and not
| sustained. The commission house busi-
| ness which has reflected the growing in
terest in the market by the outside public
up 10 last week has practically ceased.
The heavy buying by large capital which
sustained the market for so nan weeks
is no longer in evidence and the con-
| clusion of dealers X obviously that IL is
prudent for the stock market to walt for
general conditions TO come up with it.
The most attention in Wall street H. paid
at present to the reports OF crop pros
poets and prices. The harvesting OF
abundant crops at good prices by the
farming population are regarded as most
vital to the sustaining OF prices at tho
advanced level. The granger roads have
led the advance throughout ana continue
to show the greatest strength and firm
ness. The passage Of the tarin bin
through the senate had been looked for
ward to- as "a favorable factor IN wall
street, but had been discounted. The
strike Of soft coal miners has had its
effect in checking the upward tendency OF
prices; but there are not lacking express
sions Of confidence that the strike may
lead the way TO an opportunity OF bet
tering the dcplorabie condition existing
all through the soft coal trade by inn
proved wages as well as by improved
profits to operators and transportation
lines.
i llt Hf'h liz piSS'l WITHOUT n EllD-
ment of gold To Europe. and the belief is
general that the years outgoing gold
movement has come to an end. Sterling
exchange has shown a slowly hardening
tendency as the week progressed. even
in a very dull market. There Is a disposi-
ton to sell long exchange wheat for fu-
| ture use.
The low rate for call money has falls
during the week from Ia per cent. 10 |
per cent. The net changes In leading
| stocks for the week are small, but are
mostly lower. Some noteworthy gains are
shown by inactive stocks.
The bond market ruled fairly active
during the week and considerable strength
developed in the Rilt-edged liens. The
dealings generally lacked fapture. aside
from extreme irregularity I'M Ae Industrial
| securities which impaired ID a the gem
\ eral market. Purchases I'd T1nvestment
| account were observable In many in
stances. and a better speculative demand
occurred for some OF the low grade mort
| cages. Some heaviness was noted to-
wards the close OF the week i'm the more
active mortgages, but without effect on
the general trend. The principal ad-
vances were: Brooklyn Transit SIS. "a.
New York SIS regular 2s. Galveston.
Houston and Henderson SIS ,; Indiana,
Illinois and Iowa. firsts 4. Rensselaer, and
Saratoga firsts pa, Iowa Central frsts 2.
Mexican National incomes y. 2Iz. Susque-
hanna and Western general 2, Peoria and
Wilkesbarre and Eastern frsts "a. The
declines were: Central Of Georgia Bank-
ing Company. gold fves "a. Cleveland
and Pittsburg sinking funds rs "a.
see division, 3 per cent. Governments
were quiet and fairly well held dur
ing the early dealings. subsequently,. how
ever. general weakness developed on
profit taking with the new coupons. re-
acting TO l24iz.