The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-07-18

So'oof,fVi circulation, decrease, $l4l, fuO.
The banks now hold $46, OS6 800 in excess of
the requirements of the % per cent. rule.
New York, July 17.-Dealings on the
Stock Exchange were in fairly large num-
bers, and the market was strong as a
whole. Liquidation in sugar worked a
sympathetic reaction in the market for
a short time, but the advance was resum-
ed before the close of buying to cover, and
the last prices, in many cases, were the
best. The Changers We're notably strong,
as being likely TO derive the most imme-
dlate benefit from the promised abundance
of The hops. st. Paul, Rock Island and
Northwestern and Omaha all touched the
hlshest point in the present movement,
ana ST. Paul and Omaha closed at the
top, the former leading the market in point
or activity Sugar was sold pretty stead
lily all day though not under severe pres
sure and not on violent fluctuations the
traders having finally come to the conclu-
sion that the situation in the conference
committee was really still to be adjusted
1t was not until after the market had
closed that the news of the agreement of
the republican members was received, and
the belief that indefinite delay was likely
70 occur was prevalent. Louisville and
Nashville was a strong feature in the
trading, and was bought for London ac-
count, as well as the coal stocks continued
10 snow strength under the same infiu-
ences that have affected them all week
New Jersey Central gained a point and
Closed at ~, the top price and the highest
II has sold at since early in the year The
oreak IN the wheat market on reports of
continental selling was not without its
erect on values in the stock market and
contributed to the reaction. Tobacco was
Keehly aHected by the reactonary ten
dency, and, together with Sugar closed
with net loss of a large fraction. Lake
Erle ana western preferred also closed a
point lower. The railroad bond market
was very active and also strong, sharp
gains being shown by some of the specu-
lative issues.
Inc total sales of stocks for the day
were l22, $50 shares, including Louisville
and Nashville, 5,32S; Rock Island, 7.445
81. Paul 1852; American Tobacco, 1885,
Sugar, 1858.
The steady advance by slow stages this
week should crafty such SPECTATORS as
may nope to make the securities on the
ANTICIPATED result when the business of
the country has settled down after ascer-
tanning definitely the nature of pending
legislation. OF course these extended rises
are often abortive, being stunted by reali-
zatlon OF paper profits. But at current
quotations. little liquidation has material
lied. The weeks most noteworthy incident
was the rare combination of the extraordi-
nary advance in wheat and at the same
Time most favorable crop advices. Appar-
entity trustworthy foreign advices indica-
ted diversified shortage of crops that
promises tive returns for both
wheat crops. The Changers, which will
benefit largely by this state of affairs,
were uniformly strong. The fiscal years
exports reached unprecedented figures
and attained an unequaled excess over i'm
ports, regardless of enormous imports an
ticipatory Of the new tariff law. The An
thracite roads were strong on the Vacat-
ing of the order for ipuuirxr into fba
coal companies methods on the ground
that the LeXoW antitrust law
was unconstitutional. There was an
early disposition abroad to mag
nifty the Importance of the soft coal
strike. On Wednesday, however, Lon lon
was fair customer of Yanks and while
subsequently there was some selling from
that quarter it was of a hesitating char
acter, showing a gradual realization of the
improved outlook here and possibly a
knowledge that there were efforts to ar
bitrate the miners and operators differ
onces The buoyancy of sugar during he
early part of the week was a sustaining
influence on most of the list. The sus-
pension of large brokerage house on the
wrong side of the market had but a tran
STORY depressing effect. Washington ru-
mors early indicated that schedule very
profitable to the refining company would
be agreed upon in conference Some kind
N'HfSN'ANASAA
road properties in the south and SOUTH
west, notably Missouri Pacific which was
bettered by 21s, and Louisville and Nasn-
vile, 1%.
The bond trading during the week was
characterized by aggressive strength on
extensive dealings, which embraced a
large number of usually dormant securi-
ties. Changes in these liens were usually
attended by wide vibrations more gener.
ally upward. The demand for invest
ment account was reflected in the rapid
appreciation in values of the gilt-edSed
issues, which is forcing more general pur-
chases Of the middle grade and specll
tive mortgages, which promise a large re-
turn on capital invested. Plethora OF
FUNDS at this center is evidenced by the
high prices realized for municipal bonds.
which are much sought for. The aegre-
gate sales were 81, 027,0O
Government bonds were moderately ac-
tive and exhibited decided firmness. State
bonds were prominent and generally
higher.
New York Closing Stocks.
Atchison 1874 do do pref .... 81
90 pref ........ 25l2 st. Paul ......... IS
Bait. & Ohio .. ga do pref -. 14oih
Can. Pacific -. C6Il ST. p. & O.. 65G
Can. Southern 50 do do pref Id
Cent. Pacific -. Ssi st. p, NJ e, M III
Chos e, Ohio ~ CO Daofao -