The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-07-10
|. ri CESL ER
'nsrs Was ~. No News 10 Account I5tor lie
GeneraI Movement Of the Market.
PACIFIC MAIL !. WAS VERY ACTIVE
S - House BnyIng was
LnckinE.Thcre was AIso q, Mark. d
Diminution I'm the Volume OF Bust.
mess. Sugar and other leading
Stocks Absorbing a Lnrg Amount.

New York, July 9-STthe result Of the
+ Jay trading Is a. small average net gain
IN the price of stocks. But the larger
part Of the sales during the day was
made at prices considerably below yes
terdays close, and 1t was only in the
hnal h0uf that d covering movement
Htiffeneu prices to O. level above last
nights close, and q point or over above
The dow level of to-day in many shares.
There was no news to account for the
general movement OF the market unless
1t was the continued good prospects for
crops, which Sustained the Changers.
Ihe strength OF Des Moines and Fort
Dodge end Chicago Great Western con-
unntu and was attributable to a belated
Share in the Improvement which has
been general In the market for several
weeks, and which was precipitated by
market operations of inside interests of
those properties. Pacific Mail was very
active and notably strong on the re-
puted Intention OF the directors 10 raise
me dividend rate. Omaha was favor
ably affected by q story that the pro
posed blanket mortgage for $165, 900, 600
authorized by the Northwest directors
1or refunding operations Is to be applied
TO the refunding of the Omaha issues as
well, through the merging of the two
roads. This rumor affected Omaha
more markedly than 1t did Northwest It.
ser, a-nd In fact, gave an impetus to
prices In the whole market New York
Central sold at one time during the day
on reports that its officials had secured a
controlling interest III the Lchich Valley.
lhe stock reacted sharply up5n denial
OF thlS report from an accepted authority
IN both New York Central and LIehign
valley affairs. Chicago Gas was vlgor-
oukly attacked and sold down tx below
last nights close on a report that the
plan of consolidation included an In
crease Of the bonded debt but pra cticll-
~ all OF the loss was recovered Sugar
was the subject Of the usual food of
rumors regarding the intention of the
tarif conference but ruled above last
nights close nearly all day and closed
WIN ret gain Of a point, rising sharply
ut the close on covering. The market
was almost wholly made up Of such spe-
Slat incidents as the above. Commission
mouse buying was lacking the London
market was not a factor and in fact
nanipula ton made effective by the nar-
roWness of the market was about the
only influence which made itself mani
resi-. There was a marked tiimipu.ion
IN the volume Of dealings ard Suga~, S.
raul ByTlington, and Pacific Mail ah-
sorbcd ;soout half the total TThe total
safes or stocks today vera IFS 80
shares. Including Sugar 1880. Euri;ag-
ton and Quincy 1900. Chicago Gas !. ;aI.
New York Central $500. Omaha G ,.Cr,
Pacific Mail 11.500 st. Paul ia9U0
n brisk inquiry prevailed for the mid
dle grade bonds, and some substantial
improvements were recorded The -an
erai market, also advanced slightly.
while n more cheerful sentiment pcr,at,
ed the dealings than for some time. The
aggregate sales were 81 ,450 900 Govern
ment bonds were q shade lower all
around. The transactions were $4,000.