The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-07-20
SUGAR .|l['.|| r tn FEATURE.
Scored elan an Extreme Advance for Day and
4 Breaking all Previous Records.
BIG BLOCKS. Of sT0CK CHANGED HANDS
Tho snri5et Was Ain, ost .UnpnrnIleled
Tor n .sNiy Day both in Point OF
Activity ANA strcnsih-Enormou
Dealings ils lsonds Nns n Fit Ac-
coIhpnnin,ellt tor Tho u ark OF.

New York, July 19.-The stock mar.
ket to-day was almost unparalleled for
July days. trading, both IN activity
and strength. Sucn Influences as a
moderate export Of gold to Canada, some
decreased earnings Tor the second week
OF July were brushed aside as chaff and
nothing was talked of on the exchange
but speedy action on the tariff ide;.i
weather for excellent crops and foreign
demand for our securities. as well az
grain. Enormous dealings III bonds at
advancing prices was a fit accompunl-
ment for broadening stock market.
BY all odds Sugar was the great rea-
ture. the traders realizing that the re-
timing interest had secured the report
Ing of q sugar schedule, that if adopted
by Congress would mean a profitable
business for the sugar company Cor the
ensuing four years at least. Sugar
scored an extreme advance for the day
of 10&, touching 1441s, breaking previous
high record prices. At the very opening
5000 shares were sold at from 13G TO
139. Tremendous blocks Of the stock
changed hands at almost uniformly r,.s,
Ing prices. Six thousand shares Yer,
taken by a brokerage house repu.tcd ia
represent most powerful! 4nteres,
which Is credited with havir.c Recently
acquired large quantities oe tb.t s.'
curity The argument that the new
sugar schedule would 3es,,lt IN some
increase In protection over that provided
IN the present lAw stimulated extern
slve covering o. the part Of the shorts
Mno tenporf -rl!y at least. lost faith ir
.aeir preSr as position. The tumultuous
. .ssne q. the sugar post continued well
80, 80. 1u' >nout the day. 10000 shares hay.
ni cen bought and sold. In the closing
!" >drs the stock eased Off a trine, re-
.eding 2A below the best, but loaned at
- per cent. premium for use over night
sugar Preferred also had shown an en-
IRENE gain for the day Of per cent,
TWO points Of which were lost later.
Inc slackeniHg demand for the specu-
lht'Ve leader only slightly modified the
pronounced bullish developments in the
cest Of the list. Standard shares, how
ever. showed an average rise at the
dose OF to 3 per cent London was
caught short in both st. Paul and Louis.
vile and Nashville. and the foreign pur-
Shases considerably exceeded the sales
Inc railway list was generally in
huenced by further reports of foreign
crop shortages and prediction OF i'm
proved earnings, due to excellent pro.
Sress or American crops. A number OF
prominent railway shares made new re-
cord prices, especially the Granger
roads. Chicago Gas, on reports OF an
other dividend being possible on the
present trust receipts. and American
= cDaSSo. Oh lie concessions made on
the tobacco and cigarette schedule, each
closed at a point advance. OF the large
Industrial shares Rubber Preferred lost
point and three-fourths Reading
Preferred stocks. on improved trace con.
dttlonS and earnings. rose over a point
The total sales OF stocks for the dav
were 4S2.990 shares. including AtchisorI,
S.h00 Atchison Preferred 1897: Chi.
cago. Burlington and Quincy. 1920:
Louisville and Nashville, l1725; Mis-
souri, Pacific. 1880: Missouri Pacific Pre-
ferred. 12,S55; Reading, 1850; Rock Is
land. 1850; st. Paul. 1886; Southern
Railway Preferred. 5,235; American To-
bacco. 1870; Chicago Gas, 1925: Lead.
S,092; Sugar, 11s,462 Suger Preferred
$685.; United States Leather Preferred,
1900 -
The bond market wRs featured bv
enormous transactions, which agEreeat
ed 10000, and included an extensive
variety of issues. The tendency Of
values was upward throughout, which
thoroughly reflected the growing con-
ftdence In the financial and commercial
situation. Purchases by foreign inter.
ests were generally noted and round
amounts Of the speculative issues were
Eaken for local account. The extreme
cams ranged UP to 4 per cent, with
oregon Improvement IS Trust Recelrts
leading. Governments are neglected
put generally firm.
CLOSING BIDS.e
a ...... ~. 125Sl St T, and. e II az