New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-08-07
SHARP RALLY IN WHEAT
GENERAL EVIDENCES OF BETTER TINES
REPORT OF PENNSYLVANIA RE-
FUNDING PLAN.


REPORT OF A PENNSYLVANIA RE-
FUNDING PLAN.
There was another jump In wheat yesterday
September wheat (wheat deliverable in septemoer)
sold as high as A% cents bushel. and CLOSED al
s4% cents, which III cents above Thursdays CLOS
ing price December wheat closed at &s CENTS or
" above Thursday. The quotation for cash wheat
No. Northern, was 90% cents. There was small
recovery in silver. Commercial bars were 90 cents
an ounce which was u cent above thursdays
price. There again great activity IN STOCKS
For a majority OF the stocks on the active isl I'M
proved prices were recorded. Some advances were
Burlington and Quincy. IA: Chicago Great west
ern IA Detroit Gas 2: Erie second preferred IA
Illinois Central 2ss: Illinois Steel S7s Laclede Gas
common 2; Laclede Gas preferred, 6ls' Manhattan
AZ: Metropolitan Traction 2; Minnesota iron, o.
New-Jersey Central l. New-York Central. l@t' sus-
ouehanna and Western preferred, !; putnam =
southern Pacific 2is: Tennessee Coal and Iron IA;
Leather preferred, 2: Rubber common, /; Ruboer
preferred. N 49,
The head OF house which was active III the
great bull campaign OF 1879 said yesterday re-
gard the situation now as more PROMISING 'n"',
was eighteen years ago. The great FACTOR at '"at
time was the resumption OF specie payments ana
the importations of gold in payment for exports OF
wheat We had gone through period OF depression
and Mr. Gould Mr. Woerishofer, Mr.. keene' MT
Vanderbilt and others Joined hahds III HaA'"s
great market II must he remempereu "o"e,o''
that the 1879 boom was made on uedr Ho"c!' ''''"h
us I remember as high at times as Y OF per cent
a dav Nav money is from l to per cent the
world over with the available amount enormously
greater than was the case before ROADS were theh
new bonded for per cent and with earning capac-
ity yet untred Now we have many OF 'he same
roads reorganized with their bonds al per cent
with ample means in their treasures and with an
enormous traffic assured business resumes lts
normal PROPORTIONS The foreign trade situation Is
nearly AS strong as IT was then Al '"e io
ment we are paying for large importations IN ah'ci
patton of the change In tariff but as soon as 'hat Is
over we shall be importing gold with Europe In po-
sition to lose IT, The gold production OF the "orid
&c much larger now than then. and will be great
factor In the bull speculation, which mas oeeh run
ming In mines and industrals In London ana WHICH
will appear in railways and Industrial STOCKS mere
Banking houses which do large pusihess WIN i"i-
porters uptown yesterday found the demahu from
th.se people for exchange practically nothing ana
the result was that they had bills for sale IN the
market in quantity. This Is significant FEATURE as
II tends to show that payments Tor importer soo''
have been made to a larger extent than was AT one
time supposed. 1t Is also fact that sugar re-
anine interests and importers OF wool nave not oee
In tn. exchange market in the last DAY OF Two
,,bich noints TO the same thing holding good win
regard T., sugar and wool People VINO make n spe-
calty of commercial bills say there Is large guam
tty Of exchange In sight and they are pears OF the
market
n
new Glucose Trust said yesterday that ne h@u "o
stock for sale al present prices, and that ne went
info the new concern with intention OF making
money out OF the development Of the company.
member of another large house. known 10 DE inter
ested in the company. said that there was no STOCK
for sale II is understood that there is large SUD
scriptlon to the stock in this city ana mat ID.
names Of some Of the best houses in the Street and
Of their customers are included In the Hs'.
Far as the market for glucose Is concerned ther"
has been no material change In the week Frices
been made al 81 IS a hundred bit these were 40
small l5ts II is considered almost a certainty
,hat the trust will begin business about August 10
II is reported that the management OF the rem
sylvane Railroad mas under considerable" P''i'
for refunding the mortgage debt which is!Is Que o.
or before 1906 The largest single amount is the
Sterling per cent loan OF $2'oZoVo' ana tere art
s4ns,oO per cent bonds which mature In the same
wear Maturing before 1895. there are Nsys'NO an
dalia first per cent bonds maturing THIS year ana
81 600 900 second per cent bonds maturing IN 1873
Pittsburg Chicago and St Louis - 10 the amount
Of ss6s3CO0 mature In 1850 and $4,000 Cleveland
and Pittsburg consolidated Is In the same year.
The New-York News Bureau yesterday had the
following in regard TO railroad earnings:
Intelligent speculation in Wal Street concern.
itef with the future nor Win T'a' h S favoratI
Change in the OF railroad tranlc returns
last week Of July. Testimony to the rapid re,
viva Of prosperity in the South Is TOO varied ana
earnings for the week clearly indicate that an i'm
portanr traffic movement has set n ,cconnt som n
the last few years to such an extent hat Us credil
is fully rehabaed and further Surplus 10y
holders very striking gain sho%n IN a ane RE
gain here 10000 above the returns for the fourth
week Of july 1895 The Southern Railway also
yious years and the forthcoming annual report Of
the company It is understood. Will be- nigny gratl,
S Sn Southwest nj we find that Missouri Kansas and
Texas for the fourth week In July reported gross s
revenues in excess Of the largest July week IN the
companys history
Among the Granger roads the movement Of cereals
NAV be said TO have hardly begun. Yet 81. Paul
and Rock Island few days ago recorded catering
for July and ha Gsa raes Sn
which is cooperating thoroughly with the
cent and Ike gain for the entire month In The
BUSINESS IS already reyvins in CONSTITUENTS Of the
h ses 1sye''''"' u e'''.. ~
watched WIKI iDteres, rom now on industrial re-
vval is expected 70 bring good revenue 70 roads Ike
provement in hs anthracite coal Industry may not
be felt immedately by the trafic returns Of the
forward to with conhdence by al persons who have
made sa ,Hs sGay Of n hG in the con-
The first bale OF Georgia cotton sod at
auction at 90. cents pound in front Of the Cotton
Exchange yesterday II was consigned 70 Hubbard
Bros & CO. and was bought at the sale by John
Collins & Son.
FLOUR RISES. But BREAD WILL NOT
THE INCREASE IN THE PRICE OF WHEAT NOT
FELT by THOSE WHO PATRoNIzE BAKERS
The rise in the price OF wheat has caused no
corresponding rise In the price OF bread yet and
the large bakers say that II will not unless wheat
should go over 81 bushel.. And even then the
prices Of the loaves would probably remain the
same but the loaves would be smaller. The bakers
also say that with the coming OF good times their
husiness will increase in volume hat thev ran