The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-08-05
Stocks and Bonds.


New York. Aug. 3.-The market for
securities received further impetus to-
Wara higher range of values today
buylnS was animated and in large vol
ume III all parts. not only ii the stock
market, but bond market as well. The
confidence of the general public in the
revival of business and the improvement
OF values to result was plainly manifest
Ill the large commission house orders eN-
ecuted on the floor of the exchange, those
being i'll such number and of such i'm
portancc as to overwhelm all attempts
| OF the professional operators to check
the advance and to manipulate the mar
kct, for reaction. All the news was
such as to push on the enchantment of
prices. Reports of crops continued most
| encouraging from all quarters and the
continued rise in prices in the grain mar
ket reflected the confidence of buyers
mat grain prices We're to be realized for
the crop. Returns of railroad traffic
from the west and southwest showed
the grain movement to be in such vol
lmc as to leave the amount of business
to he done by the railroads only Ques-
tion of the number of cars they can Sc
| cure to transport the grain offered. The
westward movement of merchandise is
also reported to be large for this season.
so that the trains carried westward as
well as those coming eastward are pro-
| dncing revenue for the railroads. The
| buOyancy of the industrials was the re-
suit of the bright outlook for the trade
in the particular staples in which these
, great corporations deal. The gas COM
panics especially. were benefited. Con
solidated Gas leading with a net gain of
ID points. The exchange situation
! was also much cleared. the quotations for
| actual business in sterling exchange be-
ing S4.S7 IA for sight bills and S4.S5
"a for sixty days. The declining ten
| dency is due to the free offerings of grain
| bills, which are likely to increase from
| this time on. In view of this fact fur
| ther exports of gold are unlikely to oc-
| cur and the annual rcfiux Of the yellow
| metal will probably begin at an early day.
. The very adverse trade balance to To-
suit from foreign purchases of grain is
considered to he the motive of the per-
sistent dissemination of foreign OK
| changes TO invest in American securities
and of then. disposition TO take their
profits by selling these securities in the
| New York market.
| Sales of This character were large to-
| day. especially of Northern Pacific pre-
| ferred. London offerings of Northern
| Pacific preferred were well absorbed To-
day. and after the close in London the
stock rallied to point above last nights
close. The following list of advances
indicates the proportions of the move
ment: Consolidated Gas. ID: Fast
River Gas. 3: Sugar preferred, 3 Is
Sugar. Brooklyn. Union Gas. Chicago
Gas, General Electric, La Cledr Gas
Oregon Navigation. st. Paul and Duluth
both common and preferred and Spirits
preferred, points or over.
Those stocks which gained a point Ol
over were: Cotton Oh preferred. Tohac
60. Canada Southern. Canada Pacific
Cleveland, Cincinnati. Chicago and st
Louis, the Changers. Lake Shore. Louis
vile. Chicago. Indianapolis and Louis
| vile, Metropolitan Traction, Michigan
! Central, Norfolk and Western preferred
Oregon Navigation preferred. Oregon
Short Line. Tennessee Coal and Iron pre-
| fcrrcd.
| Railway mortgages were in large vol
| ume. The "low-priced securities We're ca
gcrly sought for by domestic and foreign
buyers. The general tone was very
strong. with specific influence operat
| ing to enhance values of some liens. no
| tably Oregon Improvement Consols rs
| Trust rccciDts were conspicuous for II
| rise of > - ner cent ~ 30. with 'latcl
reaction to 2S. The aggregate sales
| were S3.99OOO0.