The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-07-02
4 Stronger Tone Developed After Noon
Which Carried Prices Upward.
DECIDED FALLING OFF IN ACTIVITY
a Feature OF the Market All Dny Was
the Ense with which Prices Moved
Roth UP and Down OH sIpall Trans.
netions-The Lnie Rise Was Accom-,
plished without Any Worry Grea.
Amount OF Buying.

NSeW / DIX, July 1.-TO-day'S market
vas somewhat erratic,. the earlier hours
of the day inclintng to reaction. but a
stronger tone developed after noon.
which carried prices all through, the list
ABOVE last nights closing level There
was. no news regarding the general
eie1ation TO account for the early DECLINE
anu It must be attributed to q general
apprehension among the professional
traders that the advance in prices has
outstripped conditions. The late strength
dld not develop until after d period of
le'erlsh uncertainty and u hestating
part Of the bears to take control of
the market. There was q decided fall
ing off In activity and In the outside
interest in the market all day Nor
was there any general heavy selling to
realize apparent
The decline gave every appearance OF
pelng purely manipulatlve in character,
the bulls seeming to assent to 1t as
promising @ benefit to the tone Of the
market. It was not OF q character to
an aggressive short sales, and. in
lact the sales that were made for short
account were covered before the end of
me session, and were largely RESPONSE
pie Tor the rally. A feature Of the mar
ket Gil day was the ease with which
places moved both up and down on small
transactions. The late rise was accom-
pllShed without any very great buying.
Tenectlng the disposition on the part of
neaVy operators to nurse the reaction for
the purpose OF recuperating the market
ana preventing its too rapid advance.
London already reflected an Increased
confidence In the stability Of values here
and bought Quite freely during the day.
Genera1 news as to the outlook for bust
ness continued favorable. The transfer
9 OF s2oo.eoo IN currency from the sub
nTeasuTy to New Orleans Is considered
an indication OF increasing business,
activity in that section
An order from Europe for 100000 In
fold went begging in Wall street, there
Z uelng no adequate profit in the transac-
ton at the ruling rate Of exchange. The
Governments good showing for the rs
ca year with deficit Of less than 3d.
WO.00O. against an estimate a wear ago
or over $64. O00.000 Ia looked upon as a
favorable factor. Louisville and Nash
vale.s good showing for May Of an in
crease Of $S2,021 in gross earnings and
OF s64.246 in net helped that road to
maintain It's prices above yesterdays
close. or near the level all day. This
was true of the Internationals as q
group, with one Or two exceptions. Man
oattan was also markedly strong all day
on rumors that surface railway inter-
asts were about to acquire an interest in
The property. With these exceptions
the whole list declined below yesterdays
close. the loss reaching 1Ac. in Sugar
and over point in Tobacco, CHICAGO
Gas and Northwest.
Inc total sale Of stocks to-day were
SI6.443 shares, including Tobacco, 100:
Sugar, 34,700; Burlington and Quincy,
$500; Chicago Gas, S0.7O0; Manhattan,
10000: Reading, 1900: Rock Island, TO-
900: ST. Paul. $4,000
The bond market displayed a good
tone ofs moderate transa ctions, which
We're largely restricted to the leading
mortgages. Fluctuations were quite
narrow. but were fairly uniform in
fractional gains. The market showed
some irregularity at times but ended
with the principal liens showing advant-
ages. The aggregate sales were 81. 392.-
600. Governments were dull, but hard
ened fracuorally. The transactions
were $4,000. =