The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1897-09-14

New York, September 1.-THE rener-
al zone OF the market for stocks was
strong today and there was no heavy
pressure OF realizing sales; but there
was more or less weakness at different
points scattered through the list. The
Northern Pacific issues were heavy on
the continued bad showing of earnings
the fourth week in August showing q
decrease and the months decrease in
gross earnings amounting to Sl2. 1874.
Ih1s showing Is in marked contrast to
the heavy increases which are shown
by other railroads almost without ex-
ceptlon. Some of the roads in the
southern group We're unfavorably az
fected by fear that the yellow fever
quarantine would interfere with their
traffic and also by the government
bureaus report of the ~unfavorable con-
dltion or the cotton crop. The effect
was noticeable in Louisville. South
western preferred the Mobile and Ohio
Missouri Pacific was under more or less
pressure OF profit taking. The coalers
were also weak, the Reading issues be-
ing under pressure to a marked degree.
Inc bulk OF today's trading was CEN
tered In the grangers and Kansas and
Texas, and these were strong with the
exception Of Chicago Great Western
and Northwestern, which closed at q
fractional decline after having risen q
point net. Kansas and Texas preferred
closed at a net advance of IL. All OF
these stocks closed f~ractionally below
the pest, but at net advances. The re-
SUITS In the list generally were some
what mixed. Outside gas stocks. es-
pecially Bay State Gas, were weak and
local gas stocks were strong. Brook
lyn Union Gas gained 9 points. ConsoI-
ldated Gas advanced at one time 3
points but closed at a fractional de-
cline. Manhattan ranged freely over
2 points and lost a fraction net. To-
ledo and Ohio Central rose over z
points and Pullman 2 points. A fea-
ture or the day was the sharp recovery
or silver Of I'D to 25Ed in London and
1c to 55c in New York. This was due
to the decision Of the bank Of England
authorities to hold ~one-ffth Of the
banks reserve in silver. Today's price
Is "a above the owest In london and
3hac above the lowest in New York.
Probabilities point to an early hard
ening Of rates for money and an in
auguration Of gold imports. The most
important event Of the week was the
action OF the st. Paul directors in de-
claring an extra dividend OF 1 per cent.
bringing the years distribution I'D "a
D per cent. This carried both st. Paul
and Burlington more than / per cent.
above par. led to renewed buying OF
the grangers and strengthened the
whole railroad list. The decision IN
pay 8 per cent. OIL the adjustment
bonds OF the Atchison Company was
also a strengthening factor. The enor-
nous increase In August gross earnings
shown by Illinois Central (S511. 22s),
Missouri Pacific 3477. 27S), New York
Central N456, 219). and other railroads
was the most substantial encourage
ment to the buying. The financial
Chronicle estimates the total Increase
for August OF thirty-eight roads re-
porting gains In excess OF $50, 900 at g..
$685. ESQ. The hope that the strike Of
sort coal miners was near to a settle
ment was an encouraging factor, az
were the good prospects reported in the
trade reviews. Totaal sales OF stock to.
! day were 23S. 705 shares.