The morning news., 1897-08-07

second only to that of yesterday in the
record of the year thus far, and the ami
nation was without interruption. except
Tor a few brief iuls, when prohts we're
taken by professionals. Although the
dealings in stocks were In somewhat de-
creased amount compared with yesterday.
the buying of bonds was heavier. The
efforts of the professionals to bring about
a reaction were abandoned to-day and
the market seemed to move upward a.
most without restraint, except for few
exceptions.
The activity permeated every depart
meht OF the market and the sagging ten.
dency Of prices OF American securities in
London and the continued large selling of
them for London account were ignored.
some of the stocks in which the heaviest
selling was dore 10y London as Illinois
Central, showed the widest advances here.
There was temporary lul in the al
vance Of some international stocks during
the process of absorption of London Of
ferings, ppt il was resumed when this Of
terng had been taken Londons sales
were estimated at about %, 600 shares The
foreign selling was without effect on the
exchange market, which sank heavily,
actual business for demand sterling being
done at %.S6A. and for sixty days at $LS5.
with the tendency still downward Post.
ed rates now reduced nc to $4s6 for long
bills, and $4& for short, respectively. The
failure of London selling to affect the ex-
change market led to some surmlses that
the selling is for short account. Skilled
estimates place the amount of American
railroad stocks still remaining in the Lon
don market at a very low figure Yester-
days good reports of earnings Of southern
railways continued to exert good i'll
huence on the stocks of these roads. The
stocks of iron and steel companies rc-
hected an improved feeling in those
trades, except Colorado Fuel which lost
l3s. and Leather preferred rose on en-
couraging reports of prospects in the
leather trade. LaClede Gas made further
sensational advances.
Consolidated Gas and Chicago retained
their heaviness, though closing with frac-
uonal net gains. Sugar was unable to
retain its rally and closed with "A net loss
OF rs. Manhattan rose buoyantly on re-
ports of a union with surface car inter-
ests, the net gain being Az Total sales
or stocks to-day were 54l 600 shares in
cluding Atchison preferred, 6.2OS; Chesa-
peake and Ohio, 6,460; Burlington, a. 1876,
Illinois Central, 7315; Louisville and Nash
VILE 1900; Manhattan, 1892: New York
Central, 6,9l0; Northern Pacific. 5,400; do
preferred $500; Rock Island, 23,540; St.
Paul, 4,03l; Southern Railway, 1885, do
preferred, l2,4l0; Union Pacific, II 1850,
American Spirits. 10,S0 American Tobac-
co, 1880; Bay State Gas, 9l3O; Chicago
Gas, 1860; LaClede Gas. II, ,4S0; Sugar,
1927; Tennessee Coal and Iron, 9. .055: Unit
ed States Leather, 5,845; United States
Leather preferred, 1702) Western Union.
$40; Chicago Great Western, 25.750.
Values of railroad ana miscellaneous Sc
curities continue to trend upward on heavy
purchases which include a number Of gift
edge liens. The middle grade and low
priced mortgages scored the more note
worthy changes, with foreign purchases
again !n evidence. The aggregate sales
were $4,000 Government bonds showed
some irregularity, but closed firmly on
light trading.