The times., 1897-07-20
The World of Business.
Vail street YESTERDAY

New York, July 19.-Further and note
worthy advances in the stock market To-
day reflected III general the influences
which have been potent in the specua-
ton since the last week III May. AS
the events OF the meantime have only
strengthened and confirmed what Were
tnen little more than expectations and
indications, the course of prices has been
thoroughly logical. An additional and
special factor in the days market was the
information received from Washington that
the conference committees of the TWO
houses of Congress had finally arrived at
an agreement as to the disputed points
OF the tariff bill, thus insuring the early
enactment OF that measure, and removing
the last hincrance to business improve
ments The recognition of the beReficent
Importance OF the settlement of the re-
vision of the tariff was reflected through
out the general mar ket and the tremendous
dealings in Sugar Refining specifically
Were the|result OF the final adoption OF
schedules regarded as distinctly favorable
to the American sugar refining industry
Sugar Refining today enjoyed one Of
those extraordinary movements which To
a greater or less extent have been features
ceedngly large transactions the stock
scored opening gain of several points,
the magnitude of the transactions pre-
venting the recording Of formal open
ing price Opening sales were made stimuli
taneously at quotations ranging all the
way from 1876 up to 139, as against
1873 "a, the closing quotation ON Saturday
This at once established a new record
afaIa
certificates have ever sold before was
1877 7-S, on Tuesday OF last week. Then
there was a reaction down to 1877 81
II rallied TO 1873, and then fell to 1877 l. +,
but subsequently started upward once
more. The fluctuations were very rapid
throughout the morning, with the dealings
heavy. The highest price of the morning
was recorded about noon. It was 1879 7-S
after more fluctuations and great excite
rnent, and touched Al 1-2 about 100
! o. clock.
Notwithstanding the extraordinary activ-
ity and strength In Sugar that stock by
no means overshadowed the general mar
ket, which likewise possessed these feat
ures to marked degree. The practical
passage OF the tariff bill continued favora
bic adviCes from the spring wheat section
| and generally good railway traffic re-
| turns, together with the prevailing spec
| ulative sentiment, could not very Well
| have but one effect upon prices; nor are
the remarkable developments in the Klon-
| dixie gold regions to be ignored In their pos
sible effect upon values. The money and
| foreign exchange markets " werenot changed
| In any essential respects and there was
no news or developments of political
| or other character to disturb the situation.
| The strike OF the bituminous coal opera
| tors was not tangible influence in
| the trading, and its only immediate re-
| Election was in the fifty per cent de-
| crease in earnings for the second week in
| July, reported by the Wheeling and Lake
! Erie Company. Other roads in the same
sections reporting earnings also showed
| heavy decreases. Advances in excess Of
one per cent We're Common in the granger
shares and the stocks OF the SoUt hwestern
roads, notably Missouri Pacific and Kan
sas and Texas, showed marked strength
The closing was strong at a recession
all around from the best prices. Still,
nearly all the stocks actively dealt in
closed materially higher than on Satur-
| Gay