The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-06-23
THE RISE WAS MARKED
The Upward Tendency Permeated the
Whole Market.
VANDERBILT STOCKS ALL STRONG
Lake shore Made u New Record Price
"A Striking Feature OF the alar.
ket's Course Was tho Comparative
" Small transactions on which
Prices Rose-Good Crop Reports.

ket to-day again gave demonstration
Of Its astonishing capacity for sustained
increase Of prices with only temporary
pauses and trivial reactions. The matur-
ing plan Of the committee OF directors
OF the Chicago and Northwestern for
refunding the bonds Of the company so
as to effect q saving which may be ap-
piled to the stock. has become the cen
trail object of interest in the market.
The upward tendency Of prices which
Tadlated from this stock ultimately per-
meated the whole market. carrying even
the industrial stocks, some Of which
had sagged during the morning, to q
higher plane. NorthweSt's extreme rise
was SIC. Omaha, as being nearest in
relations to Northwest. followed Its
course with closest sympathy. But the
Vanderbilt stocks were all strong in
sympathy. Lake Shore made new rec
ord price Jumping SIC. to It's. This was
doubtless on exact information Of the
benefits to accrue to the stock from the
reminding or the bonds, the time OF the
exchange OF the old bonds for the new
3Hss. expiring tomorrow. The New
York. Chicago and ST. Louis stocks, on
account of the close relation Of traffic
interests with Lake Shore. also showed
marked advance. The first preferred
49, oio o. -, w Dlu
The common stock gained IL, and the
second preferred rs. Lackawanna gain
ed SEC. to 1856 on definite announce
ment that the regular quarterly dividend
VII! shortly be declared. A striking
feature OF the markets course was the
which prices rose. This was, Of course,
more mark eddy true Of the high priced
investment stocks, q very small supply
OF which is Offering in the market at any
Time A quickened demand naturally
marks up the price very sharply. But
the volume Of transactions as a whole
was not large and the dealings were
lacking In animation all day. Sugar
and Chicago Gas. which usually occupy
SO large q share Of attention, and some
other speclalties. were rather heavy and
neglected all day, though they showed n
recovering tendency before the close.
southwestern railroads were particularly
Ulfohs on account Of the good outlook for
business In that section. Continued good
s siop reports sustained the markets. par
ma u'ai a me Grangcrs. The announce
1 anent or a S500000 shipment Of gold for
thursdays steamer, and the probability
that more Will go, did not renew veS-
terday's rather Fictitious alarm on the
SUBJECT. The weeks exports Of gene
q nierchnndise from New York.
14a5n 1oo to SI909,6S0, a decrease of
SiLs'l24 from last week, indicates one
source or the strength in exchange
The total sales OF stocks today We're
R 3sO;a5S a shares, including Sugar. 1900:
GGu cur . and Quincy. 1920: Chlcago
central central. $500; Northwest. Il 500; Omaha
yy,Ioo: Reading. $1,000; ST. Paul. o35O0:
Ms6:ecH Union, G. 200. -'''0o'
trading In railway mortgages was IN
Sun,s.oeraole volume and some striking
aSiiS were made In a few issues includ :
ing Lehsgh and Wilkes barre Sc which
improved 2la per cent. The general
tone or the market was good and freq
purchases were noted OF the prominent
International mortgages for Continental
account. The sales were 81 sos. 900.
governments were more active. hut
without essential change in vaI,,ao ri. :
sales were $4,000. 'e