The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-07-29
GRAIN TRADE OUTLOOK
Large Quantities Of Wheat Engaged for
Export TO The Continent. ,
GENERAL COMMERCIAL REVIEW.
tditie Effect Felt In tho EARLY Dent.
fnss From Lower London Quotn.
tions--stockH We're Exceedingly
Ac'ive-Southern Railway Proper.
tics SHOW Increased Earnings.


4 NEW York, July 2S-The dominating
4 influence of the stock markets strength
4 to-uay was the prosperous grain trade
4 OUTLOOK. Probably over a half million
4 pushels OF wheat were engaged for eX-
4 port to the Continent, although only
4 some third of Il million was reported
4 from out ports. The favorable weekly
4 government grain report was doubtless
j FACTOR In the recovery Of confidence
] 10 the disconcertion Of the reactionlsts
ON the stock market. But little effect
4 was felt In the early dealings from lower
London quotations as the continuance
OF recent heavy buying by New York on
u thc London exchange reversed that
market. Americans there closing at the
nest prices Of the day. A1chison In par
ticular attracting attention. AS Lon
don in the early decline did not respond
very quickly to the local strength, ar
bitrase brokers found frequent oppor-
tunities to buy in London and sell at q
profit here
Meanwhile, however, Louisville, At
Gibson. Southern and Reading were pur-
chased here for foreign account There
was much variety and breadth to the
dealings here. with heavy commission
mouse orders from practically the Open
40 ~ tiiS SiooCs hUEc SlOCkS were aC-
tive to-day than at any time in the
present upward movement. Cotton Oil,
Lake Erie and Western and Oregon
navigation shares, and other usually
dormant as well as the active stocks
MS for instance Sugar and Ahchison pre-
ferred, were features In the days deal
fngs.
The Industrlals and Changers on large
dealings aroused considerable interest,
~ fr. Of if,,1
way properties, including Louisville and
Southern preferred, were up over
point each on prospective increased
earnings, when cotton begins to move
freely. Rumors that the results of the
WaDash's fiscal year would be better
1han recently expected caused the pre-
ierred to rise over point. Sugar, af-
cyter fuctuating erratically touched 1897
:, TWO per cent. of the gain 1t lost on bear
ATTACKS In the final dealings, leaving the
net gain less than point The raid
had but little influence on the rest of
the list. the buying continuing good up
20 the close. although some SPECTATORS
reallzed profits on purchases made ear
Tier in the day. On Boston and local
buying Rubber preferred gained three
points and the common fractionaliy on
reports that the former president CT
the company had made an agreement
g.
iand gained nearly n point on informa-
ton that the earnings for the third
week in July would show large in
crease over last year, showing the large
volume of business now being handled
by the road This report was said to
have been received by some Of the d.
rectors. Two rumors circulated to-day
considerable benefited the properties
concerned. They were that action
1t.,t. Il
Louisville before the January meeting
and that per cent. would be paid on
the Atchison adjustment in October. On
less than the usual dealings tobacco
rose fractionaliy. There were no impor-
'tant losses.
The total sales Of stock for the day
were 500 500 shares. including Atchison
preferred. 1914; Chicago. b and O., 81
30; Louisville and Nashville. 21,47a;
Manhattan L. SECS; New York Central,
ISIS; Missouri Pacific preferred 5265:
st. Paul, 2l,7S5; ST. Paul and O.. 500:
u T., 5,445; Wabash preferred. $3.50;
American Spirits. $780, Tobacco. 10. go
Bay state Gas. 7,2i6; Chicago Gas.
S.625; Lead, $3.50: Sugar $4,000; United
States Rubber 5197; Western Union,
S,120; Chicago G.. W., $500.
keen inquiry developed for Atchi-
son adjustment tours in the bond mar
kct, which moved mp . per cent. to 546H.
This issue has been rather neglected
OF late and the revival of activity was
attributed In part to foreign purchases.
based on the excellent outlook for in
creased earnings by the Southwestern
roads. The general bond market moved
up sharply on heavy dealings, which in
Guided 4 considerable variety OF securI-
ties.
The aggregate sales were $4,000
Government bonds were quiet. but con
tinued to tend upward. The aggregate
sales were $4,000.