The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1897-08-24

1~AS
at 1880 p. m. for home.
The Stock. Ooetoa and Grain M2rxsss
Especial to The Messenger.)
New York. August 23.-The beginning
of a new week brought buying orders
and the feeling was extrememly bull
over Saturday n continued upward,
showing a gain of over 2 per cent.
Higher prices are looked for.
Cotton-Liverpool was higher and the
increased demand was general with the
feeling bullish. The re-opening Of the
northern mills and the demand for
prints were great features.
Wheat was uneasy and excited. The
dollar mark for Saturday brought a
reaction. despite higher foreign a
ket. Trading was wild. The visible
supply decreased 500, 900 more than ex-
pected and caused renewed realizing.
Armour and others are still talking
1.50 before Christmas.
H. w. SILSBY & CO.
(By Associated Press.)
New York, August 23.-The ste TX
market today shook itself free from tie
heavy restraint which was imposed
Upon it during all Of last week and
bounded upward again. Today the
large dealers who threw their hold
ings upon the market last week to real
ize, bought back stocks in enormous
volume n brought the level of the
market about up to that Of last Mon
day, when the rise seemed to have Gull
minated. That great money interests
in today's buying was shown by the
heavy blocks Of stocks hat changed
hands and the extensive buying of
bonds. There was one order for any
part of 81, 900, 900 of a bond which is a
favorite in the speculation at present.
The houses which had withdrawn from
the market last week Inc had Joined
the selling movement toward the latter
part Of the week were o in full force
again in the market today. 1t was
more than a movement Of the large
dealers to buy a at the lower lever
what they had sold.
The move for the abandonment of the
bear movement n the resumption Of
buying was a growing scepticism re-
garding the reports of reduced spring
wheat crop in the northwest. The enor-
nous liquidation in the wheat market
gave confirmation to these doubts. The
continued rise of wheat in England and
on the continent, on the other hand,
vas continuing evidence of the foreign
need for wheat and gave assurance of
great freight traffic to the seaboard to
transport the grain n back again
to transport the merchandise which the
farmers profits would buy. The
strength Of corn n cotton in London
also aided the stock market. The fact
that foreign houses sold grain in the
market n that purchases for export
were largely curtailed did not pre-
vent the sterling exchange market from
weakening hc for actual rates of both
1nnp and Chnrf cfor1inD tho fnrnnar
selling to 4.83$ and the latter to 4.S5k.
This reflects the warning influence of
the measures taken by the Bank Of
England to defer the movement of gold
to this country and was a strengthen
ing factor in the stock market. HI
grangers and all grain carrying roads
led the improvement, Burlington lead
ing with "a per cent. The Wander
bits and sOuthwestrens, the Gould
stocks and International shares were
all very strong n active n few fail
ed to show a net improvement of at
least a point. The anthracite coal
shares, especially the Reading issues,
were also active and strong.
The total sales of stocks today were
Az, 1862 shares, including Atchison pre-
ferred 32,253, Chesapeake and Ohio
$3.50, Chicago, Burlington and Quincy
47.OSO, Louisville and Nashville IL, $50,
N1duildlldH II. o,ooO, WiSSOuIl dClllC
S,579, Northern Pacific 1901, the pre-
ferred 1898, Reading 1905, Roc Is
land 20,320, st. Paul 5000, Southern
railway preferred S,134, Union Pacific
1853, American Spirits 5000, American
Tobacco 1865, Sugar 8,94o, United
States Leather 1920, the preferred &c.
O20, Chicago Great Western 1906,
Western Union 1920. The bond mar
ket showed r~e-awakened activity, the
Atchison, Erie and Northern Pacific
issues being prominent. Northern
Pacific 3s gained Us, Atchison adjust
ment As rs and Erie 3s ~.
There was a lively season Of general
unloading by all classes Of traders in
h wheat pit today, which resulted in
a net break Of &c from Saturday.
Transactions in the aggregate were
1000, 900 bushels and yet trading at
times was dull to the point of stagna-
ton. The selling was right at the
opening when foreign houses joined in
heavily n again near the close. Elk
cept for a brief period Of strength fol-
lowing Immediately after the opening,
the market showed positive heaviness
all day. Many traders on the curb and
even right at the opening, blinded by
their enthusiasm and the sgd advance
in Liverpool futures, took On more
wheat, expecting a continuation of re-
cent exciting bull conditions, but were
speedily turned into heavy sellers by
the unlocked for attitude Of the foreign
element, whose sufferings fairly
swamped III market for a time. The
first trade in December here was made
at 1.O4. 1t then dropped sharply to
1.01A, rushed back to 1.04A and then
settling down to 1.02, hung around that
figure until near the close, when 1T
fell to 1.01k. September ranged from
LOB TO 1.06A and closed at 1.03k. The
French markets aided the bears. They
made no response to Saturdays
strength on this side and closed only
10 to so points up on wheat and flour,
AGAINST AZ 70 < in the adUanca for fha