The daily morning journal and courier., 1897-07-20

StreltSlu' DuCli AuhueACeS aS ~ llLouSI- ate export of gold to Canada, some de- creased earnings for the second week of July were brushed aside as chaff, and nothing was talked of on the ex- change but speedy action on the tariff, ideal weather for excellent crops and foreign demands for our securities as we'll as grain Enormous dealings in bonds at advancing prices was fit &C., compartment for broadening stock market
 By all odds Sugar was the great feat ure, the traders realizing that the re- fining interest had secured the report ing of a sugar schedule that if adopted by congress would mean profitable business for the Sugar company for the ensuing four years at least. Sugar scored an extreme advance for the day of 1O%, touching 1441a, breaking pre- vious high record prices. At the very opening 5000 shares were sold at from 136 to 139. Tremendous blocks of stocks continued to change hands at almost uniformly rising prices. Six thousand shares were taken by a brokerage house reputed to represent a most powerful interest which is credited with having recently acquired quantities of that se- curity. The argument that the sugar schedule would result in some increase in protection over that provided in the present law stimulated extensive cov- ering on the part of the shorts, who temporarily at least, lost faith in their previous position.
 The tumultuous scene on the sugar post continued well throughout the day 116,000 shares having been bought and sold. In the closing hours the strength eased off a trifie. Sugar preferred had shown an extreme gain for the day of 8 per cent, two points of which were later lost.
 The slaekqning demand for the spec ulative leader only slightly modified the pronounced bullish developments in the rest of the list. Standard shares, however, showed an average rise of l to per cent. London was caught short in both St, Paul and Louisville and Nashville, and the foreign purchases considerably exceeded the sales The railway list was influenced by further reports of foreign crop shortage and prediction of improved earnings due to excellent progress of American crops.
 A number of prominent shares made new record prices, and especially the granger roads. Chicago Gas, on reports of another dividend being possible on the present trust receipts, and Aneri- can Tobacco on the concessions made on the tobacco schedule, closed at a io4 oH +ta faMo iy,,1 wi I shares Rubber preferred lost a point and three fourths. Reading preferred stocks, on improved trade conditions and earnings rose over a point
 Other net changes of a point or more not hitherto enumerated, follow: Detroit Gas 8, National Starch, first pre- ferred 3A, National Starch second pre- ferred 4, Pitsburg, Cincinnati, Chicago and St. Louis preferred s1s, Great Northern preferred 3, C., C., c. and T., Erie first preferred, Denver and Rio Grande, Consolidated Gas, Iowa Gen. tral preferred, Lake Erie and Western, Manhattan, Metropolitan Traction, Min nesota Iron, New York, Chicago and St. Louis second preferred showed ad- vances, while Northwest and Brooklyn Rapid Transit showed fractional de- olines.
 The bond market was featured by enormous transactions which aggregat- ed $S, 10000 and included an extensive variety of issues. The tendency of val ues was upward throughout, which thoroughly reflected the growing con- fidence in the financial and commercial situation. Purchasers by foreign inter- ests were, generally noted
 Governments were neglected, but gen. erally firm.
 Following are the closing prices re- ported by Prince & Whitely, bankers and brokers. 16 Broadway New York, md 1R Center street New Haven.