The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1897-07-23
NAVAL STORES.


New York. July ,1--The stock market
today. generally was steady to firm. but
at the closing was strong. at a better
level for. not only the more active shares.
but also for shares usually quiet and I'M
obtrusive. One Of the most potent In
fluences was a 2 cent extreme rise in
wheat and the export orders Of over i,Oo.-
600 bushels OF wheat. while yesterday tho
enormous quantity OF 100000 bushels
were engaged for export. which Is the
largest days business I'm a number OF
years. Other influences were the treas
ury's continued gain In gold. favorable
crop outlook and predictions OF the tariffs
early becoming a law. Predictions were
not wanting that this country would
have a large credit balance abroad next
year, although there was a possibility of
moderate gold exports soon. Speculative
and commission house orders were sus-
tanning influences in the local market.
while foreign banke maintained that
recent London sales were really the liqui-
dation Of purchases in London for New
ent movement were recorded by Chicago
Gas, Rock Island. Brooklyn Rapid
Transit, Lead. Chicago and Great West
ern, and Missouri. Kansas and Texas.
preferred as we'll as some notable stocks.
Compared with a month back. twelve in
dustrial stocks are quoted today at an
advance of over 4 per cent, while twen-
ty railroad stocks are up over 2ia per
cent. This rise, of course. Is a constant
temptation to those who, for several
years, have found short sales at every
sharp advance ultimately profitable. but
the bulls argue that the improving bust
ness situation and expected increase in
railway earnings may carry the market
above the figures prevailing before the '93
panic. Sugar rose to 1857. receded to
142La and closed with a net loss OF q per
cent. 1t is claimed in some quarters hat
the interests most active In the recent
advance Of the speciality have realized on
much of their holdings, but there Is no
way Of verifying such rumors. Lead was
buoyant on buying attributed to tarint
changes. Chicago Gas advanced on con-
fident buying In view of the dividend ex-
pectations. consolidated Gas broke 4
pc. cent, part Of which II subsequently
recovered. The disturbing feature SEEM
ingly was fear that the consolidation OF
other companies. IL II materializes. would
lead to sharp competition. The grangers
were In particularly good demand. nota-
bly, Rock Island, which improved on re-
and Oklahoma. Crop prospects also
strengthened southwestern stocks, espe-
cially st. Louis and Southwestern. pre-
ferred and Missouri. Kansas and Texas.
preferred. Hopes Of an early settlement
of the soft coal strike uplifted Tennessee
Coal and Iron, although the June report
was far from favorable. Wheeling and
Lake Erie preferred was also benefited
by the former influences. The rise in
Brooklyn Rapid Transit was on the con-
viction that important street railway
unions were approaching.
The total sales OF stocks today were 30s.-
500 shares, including Atchison. preferred
5,515, Chicago. Burlington and Quincy IA
42O, Missouri, Kansas and Texas. pre-.
ferred 10, 81, Reading 200, Rock Island
1900, st. Louis, preferred 5.l13, st. Paul
q, 94s, American Spirits 6.977. Chicago Gas
Is, $50, Lead Is, 01. Sugar 30, 3l6, Tennessee
Coal and Iron $3.50, Business I'm railway
and miscellaneous bonds was in con-
siderable volume at marked enhancement
In values of some securities. The aggre-
gate sales were s.. 267,00. Governments
held firm on light transactions. The sales
were 1900.