Omaha daily bee., 1897-08-08
STOCKS AND BONDS.
Most Lively Half Dny'. Trndinr in n
Long Time-Mnnhnrtnn'sJ Jumn.


NEW YORK, Aug. wall street has not seen
lNelier half day of trading than that Of
today for quite indefinite period. All Of the
favorable factors that have been in force during
The week continued to exercise an influence and
there added these several causes thar
carried tha market up with u surge 10 u higher
level al around. Principal of these the
sationHl jump In Manhattan Elevated stock.
which opened with running sales Of a thousand
slares NJ lO21a TO 400, as nEninst s9l4 NJ last
might close. Almost nln,ediutely the Ilrics rosa
further 10 Jos, and reacted quite violently, buI
siendied again ana closed at lO6la net gain
of ~ per cent. Probably the large existing short
interest In this stock wRs responsible for this
sensational movement in part. a story thut the
AietrupuIitan Traction c6npauy md rnnde mn
offer to purchase the elevated system which urer
under favorable consideration sent the stock
M and uncovered stnp loss orders for M sl1orfs
The scarcity OF The stocks resulted IN the shorts
quickly bidding up The price on themselves. An
other very Significant fenture Of the day
The fact that London changed front and turned
buyer OF American securities. Prices Of these
securities Were higher IN London at the opening
account, even after prices here had risen above
The London purity, Some of the stocks which
London uas most perSistently sold of late were
Inc fuvnriteE for purchase, notably St Paul. An
other factor in the rise the further reduction
ing the price down To 81 SJi2. The EranEers We're
lcBders in paint Of activity and showed sharp
EainH 90 new record prices in "a period Of several
yeHrs The NHnderhilts. also. were In Keen de-
mlnd Tor investment buying Illinois Central lend
inG. Belief IN an Improvement IN the anthracite
Cuul traffic for the coming fail lifted group to
Il higher level, the movement being especially
shuwed a notable gain on prospects that II would
he benefited hy general Improvement In business.
The industriais were comparatively neglected. al
each realized ] per cent, Chicago Gas EHsf River
Gas ana Laclode Gas each showed declines ex-
lehuliiE 20 ltf cent IN Lht Two Hisi ihintu
In the Nnnderhilts, Illinois Central led with 3la
per cent adNnnce Cunhdn southern showing "a
per cent. OF the grangers, burlington ana 81.
Iuu each gained l4s per cent and New Jersey
Central led the cualers with ~ per cent udvHnce.
other notable gains We're: Long Island. per
cent; Metropolitan Traction. per cent; Western
Union, ~. per cent; I'ttshurg Cincinnati. Chicago
81 Lnuls freieried per cent, ana Canadian
Pacific, Colorado Fuel, Ihnos steel and Iowa
The market for securities during the week has
reflected decisvely the confidence nf capital that
prosperous times for this country have set IN.
The deyelopments m the general situation have
Justitrd the faith which began 10 manifest us n
in the tone OF the speculutinn three months
asa. ana the strength Of tnday's market
nrrts the belief Of still further Improvement
for the future There Were about 50. NJ shares
Of stock sold on the local stock exchange dur
tns the week The par Eglue Of The bonds mar
rising market, and AZ level of prices that has
tHVorite stocks never before. Yet the faith
of the outside public In stil further nppfe-
witnessed 10y me constantly increasing volume
of commission house purchases The prnfes-
Hiuuul operators seem 10 be the only ones tinEed
largely based on technical considerations, such
that reaction must come after 80 long con-
tuued a rise They operate In the confidence
that most nf the recent buying has underlying
IN amy reaction The bears made a determined
effort Thursday reach these stop orders,
hut the outside buying took the market out ~
their hands ana grove them 20 hry hack their
short sales IN the last half hour of the dHy,
This the only marked reactunHry feature
N the week. The most Rtri6inE fart IN con-
nection for the weeks great market has been
the persistent selling for London account. no
sign OF interest In American securities being
manifested from that center until today. when
some ~ 500 eo shares huuSht for
London account The London prices up 20
dBy have been heluw the New York parity ana
New York operators have made par1 o. their
purchases the London market. The indus
trials very heavily dealt an week and
Tohac0o closes llis per cent higher ana sugar
Gis Leather preferred IL up "a and Cotton
OIL prefgred 81 Great activity was ALSO dis
PLAYED IN the granEers the gain extending IA
fAs IN Burlington. "a N 81 Paul and 81 IN
Chicago Great Western, this last stock having
come forward ~ a leading place IN The list uf
active low priced shares The rOglers all
np over points and New Jersey Central 81,
Illinois Central leads the high priced Wander
hits IN al Of which there was Enod buying.
win advance of sss. ana New York Central
gained { Manhattan lsads the whole list with