The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1897-07-20

New York, July E.-Dcaiings on the
stock exchange were In fairly large num-.
bers and the market was strong as a
whole. Liquidation In Sugar worked a
sympathetic reaction i'm the market for q
short time, but the advance was resumed
before the close by buying to- cover and
the last prices in many cases were the
best. The grangers were notably strong
as being likely to derive the most imme-
date benefit from the promised abundance
OF the crops. st. Paul. Rock Island.
northwestern ana Umana All touched the
highest points I'm the present movement
and 81. Paul and Omaha closed Mt the
top. the former leading the market in
point or activity. Sugar was sold pretty
steadily all day, though not under Sc.
we're pressure and not on violent huctua.
conclusion that the situation In the con-
ference committee was really still to be
adjusted. 1t was not until after the mar
ket had closed that the news of the
agreement Of the republican members was
received and that the belief that indefinite
delay was not likely to occur was preva.
lent. Louisville and Nashville was a strong
feature In the trading. and was bought
for London account as we'll.
The coal stocks continued to show
strength under the same influences that
have affected them all the week. New
Jersey Central gained / point and closed
at IS, the top price and the highest IL has
sold at since early in the year. The break
in the wheat market on reports OF con-
tlnental selling was not without it's effect
on values In the stock market and con-
tributed to the reaction. Tobacco was
keenly affected by the reactionary ten
dency and, together with Sugar. closed
with a net loss of n large fraction. Lake
Erie and Western preferred also closed
point lower. The railroad bond market
was very active and also strong. sharp
gains being shown by some of the specu-
lative issues.
The total sales OF stocks for the day
were l22. $50 shares, including Louisville
and Nashville 5,32s. Rock Island 7.4s5. st.
16, 553.
The steady advance by slow stages this
week should crafty such spectators as
may hope TO market securities on the an
ticipated rise when the business Of the
country has settled down. after ascertain
ing definitely the nature of pending legis-
lation. or course, these expected rises
are often abortive, being stunted by real
ization OF paper profits. But at current
nigh quotations but little liquidation has
materlallzed. The weeks most notewor-
thy incident was the rare combination OF
the extraordinary advance I'm wheat and
at the same time the most favorable crop
advices. The apparently trustworthy for
eign advices indicated n diversified short
age OF crops. The grangers, which will
Deneht largely by this state of affairs.
were uniformly strong. The fiscal years
exports reached unprecedented figures
and attained an unequaled excess over
imports, regardless of enormous imports
anticipatory of the new tariff law.
| There was an early disposition abroad TO
magnify the Importance OF the soft coaY
strike. On Wednesday, however, London
was a fair customer OF the Yanks, and
| while subsequently there was some selling
, from that quarter, 1t was OF q hesltatiug
character, showing a gradual realization
or the improved outlook here and possibly
a knowledge that there were efforts to ar
bitrate the miners and operators diff
ferences. The ~buoyancy of Sugar during
] the early part Of the week was a sustain
ing influence OF most of the list. The
suspension Of a large brokerage house on
the wrong side of the market had but a
transitory depressing effect. Washington
rumors early indicted that a schedule
very profitable to the refining company
would be agreed upon I'm conference.
some Kindly disposition was DISPLAYED
toward the railway properties In the south
and Southwest, notably Missouri Pacific,
vile ia.
The bond trading during the week was
characterized by aggressive strength on
extensive dealings, which embraced n
large lumber OF usually m secur-
tiles. Changes In these liens were usually
attended by wide vibrations. more gener-
ally upward. The demand for investment
account was reflected In the rapid appre.
citation In values OF the gilt-edged issues.
which Is forcing more general purchases
or the middle grade, and speculative mort
cages, which promise a large. return on
funds at this center is evidenced by the
increased animation I'm various outside
properties and the high prices realized
for municipal bonds, which are much
sought Tor. The aggregate sales were
$l1,027 900. Governments were moderately
active and exhibited decided irmness.
state issues were prominent and generally
higher.