The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1897-07-30
The New York Stock Market,

New York. July 2s.-The dominating in
f1uence of the stock markets strength to-
DAY was the prosperous grain trade out
look. Probably over SOC, 900 bushels OF
wheat were engaged for export to the con-
tinent, although only some $3.50, 90 were re-
ported from outports. The favorable
weekly government grain report was
doubtless a factor in the recovery of con-
fidence to the disconcertion OF the re-
actionists on the stock market. But little
effect was felt In the early dealings from
lower London quotations, as the CON-
tinuance OF recent heavy buying by New
York on the London exchange reversed
that market, Americans there closing at
the best prices OF the day, Atchison In
particular attracting attention. As Lon
don in the early dealings did not respond
very quickly to the local strength. arbi-
TRACE brokers found frequent o%pportuni-'
ties to buy In London and sell nj n profit
here. Meanwhile. however, the Louisville,
Atchison. Southern and Reading were
purchased here for foreign account.
There was much variety and breadth to
the dealings here. with heavy commission
house orders from practically the opening
to the close. More stocks were active to-
day than at any time I'm the present up
ward movement. Cotton Oil, Lake Erie
and Western, and oregon Navigation
shares and other usually dormant as
well as the more active stocks. as for
instance Sugar and Atchison. preferred,
were features in the days dealings.
The industrials and granger on large
dealings aroused considerable interest.
IAh hp dltMdt
properties, including Louisville and South
ern, preferred. were up over a point each
on prospective increased earnings when
cotton begins to move freely. Rumors
that the results Of the Wabash's fiscal
year would be better than recently ex-
pected caused the preferred to rise over
a point. Sugar, after nuctuating errati-
cally touched 1884. 2 per cent, Of the
gain Ii lost on bear attacks in the final
dealings. leaving the net gain less than a
point. The raid had but little influence
on the rest nf the 1Gt tho htxrfp~ -
tinuing good up to the close, although
some spectators realized profits on pur-
chases made earlier I'm the day. On Bos-
ton and local buying. Rubber preferred
gained 5 points and the common fraction
ally on reports hat the former president
OF the company had made ar agreement
with the present management Rock Is
land gained nearly a point on informatIon
&hat the earnings for the third week in
July would show a large increase over
last year, showing the large volume OF
business now being handIed by the road.
Tnis report was said to have been re-
ceived by some OF the directors. Two ru-
mors circulated today considerably bene-
fitted the properties concerned. They
were that action might be taken on the
dividend Tor Louisville before the Janu-
airy meeting. and that 3 per cent. would
be paid on the Atchison adjustment i'm
october. On less than the usual dealings
Tobacco rose fractionally. There were
no important losses.
The total sales OF stocks for the day
"Sit oSsrSg sHdfeS, including AtPhlSOu
preferred s.2ii, Chicago. Burlington and
quincy 1910. Louisville and Nashville
2l,i.5. Manhattan l. 5,225. New York Gem
trai 3.sIs, Missouri Pacific preferred 5.265.
! ST Paul q. 135. st. Paul and Ohio 5.OsD.
Union Pacific 5.ii5, Wabash preferred g.
go, American Spirits e.16s. American To-
bacco 1920, Bay State Gas 1926. Chicago
Gas s,625, Lead $50, Sugar 1868. United
States Rubber 5.Ig7. Western Union s.sgs.
Chicago Great Western $40. A keen I'm
curry developed for Atchison adjustment
= ; III the bond market which moved up
2 per cent. TO 5i4. This issue has been
rather neglected OF late and the revival
OF activity was attributed In part TO for
eign purchases, based ON the excellent
OUTLOOK Tor increased earnings by the
southwestern roads. The general bond
market moved up sharply on heavy deal
inss, which included a considerable varie-
~ OF securities The aggregate sales
: were 300. Oh. Governments were quiet.
but continued TO tend upward. The age
gregate sales were 10000.