The daily morning journal and courier., 1897-07-24
Ftmanctal.
Burlington and Wheat Engaged Attention
 in Stock Market Yesterday.

butilnEtOh ana W neat rsnaaGeu Attousioh
 in Stock Market Yesterday.
 New York, July 23.-Discussion as to the probability of increased earnings benefited Burlington 21S per cent, and all the grangers to the extent of an average of l per cent. rise, although wheat suffered an approximate average decline of per cent. with decreased en- agreements for exports for the day, 1t was argued, however, that when the farmers were enriched by the good prices expected for their products they would so expend a portion ot the pro- ceeds that transportation channels would be benefited by a heavy return traffic as well as a large grain tonnage to meet the demands of Europe ana South America,
 While their motives are hardly dis interested, some bulls likened present conditions with these prevailing seven teen years back and would have it believed that the boom of S0-Sl may be duplicated in '97-9S. London bought some 10000 shares against l2000 sold yesterday. These purchases may have been due to the fact that tomorrow is holiday in London, and the traders there will have only until Monday to cover or carry over stocks into the new account. The first of next week will disclose London's true speculative posi- ton, showing whether recent transac- tions there have been short sales of Americans or liquidations by profess sionals, as British advices are that the mi fn, loa fret in a two Is becoming interested in American securities.
 Traders here rather ignored the en- gagement of $1,30O,O00 gold for export as they were more than balanced by receipts of the precious metal from the Klondike region and impending imports of gold from Australia to discharge obligations for American grain im- ported became known. The customary end of the week profit taking sales were offset by foreign and commission house buying. Foreshadowing decided shrink age in imports on the enactment of the tariff bill, the weekly imports decreas- ed for the week third of 8 million, being the smallest amount in many weeks. Sugar fell oft B only on an effort to have 1t appear that the sugar schedule but inadequately protected the company and that the company was to experience increased competition. The stock rose 3h points, a trade journal predicting that insiders would | disclose riches and prospective profits after the tariff became a law. Subse- quently Sugar lost half a point of its previous gain. The fact that the con- pany had advanced the price of soft refined sugar may have had some bear | ing upon the 2$ net rise in the com mon and IA in the preferred. South
 western railways, on daily increased l earnings and investment securities, were in brisk demand.
 | Some shares which figured conspicu-
 ously in the recent advance lacked support and lost fraction, including | Chicago Great Western and Chicago
 Gas. Tobacco was benefited to the ex- | tent of 1% for the common and per
 cent. for the script by the refusal of
 New York states executive to call an | extraordinary term of the criminal | branch of the supreme court to retry
 the tobacco case. General Electric sus- l tained a loss on an adverse legal de- | cision concerning the trolley arm pa | tent part of which 1t subsequently re- covered on statements by officials of | the company that the decision was of l no consequence, leaving the net loss | fractional. Rock Island rose point and half on the stories that replacing l its s54,000,000 extension and collateral | fives on a lower basis was in contem-
 plation. A conference of the leading interests in the road was held in Chi cago early this week and another meet | ing will be held soon, probably in this
 city.
 Following are the closing prices re- ported by Prince & Whitely, bankers and brokers, 16 Broadway, New York, and 15 Center street, New Haven:
 Rid Asked