The age-herald., 1898-10-23
Local staple Groceries

F'lour-Best patent, $4.O5Q4.zo. 7 2
 Straight. $3.70.
 sugar-Granulate s5.45; Y. C.. 51kc.
 Coffee-Grecn. S9nhc; Arbuckie, snp pacS s ages, sl0.so; Lovering's packages sio.SO' N'- on's packages, $9.S0.
 Lard, 61sc
 Clear ribs sides, 6c.
 Meiasses-Centrifugal. 15@25c; suse' house. 2eG35c.
 Rice. 51k@6izc. 4
 Corn-Yeilow. 44c; white. 45c. ->ssGs
 Pearl Meal-75c.
 Cream Meal-S0c.
 Hay-Choice timothy. s1s.5o; No. l, siS'o'' No. 2, s12.6O.
 Mixed oats-32c; white, 33Gs5c.
 Bran-Mixed. $12.5o: pure wheat, SlS.
 Cotton seed meal, SIS.
 Tn wnll Street.
 New York, October 22.-The stock market again showed itself inde- pendent of the depressing influence of London and Europe except at the opening when a few of the international stocks were allowed to fall below the London parity. The selling of stocks on foreign ac- count made up considerable proportion of the days business and was well absorb ed at advancing prices. The buoyancy Of the wheat market made grain carrying roads prominent in the movement, the buy ing of Atchison securities, particularly the. preferred, again occupying conspicuous place. But the stocks of all the western roads were well bought and advanced in prices Sugar ended it's downward course very early and closed near the top with a net gain of IA. The underlying strength manifest in the market making the bears timid about leaving short contracts urcoy- cred over Sunday. Tobacco was marked up to l22ss with every evidence of violent manipuation and shorts were driven tp. cover heavily at every stage Of the ao- vance, Even the Coaers showed the ef- fects of the uncertain temper developed by the bears and made recoveries on short offerings The bank statement was Just about as expected, and had little eifect one way or the other. The gain in cash had been imported gold, and by outgo from sub treasury, and the heavy increase in loans of over sl0000,000 represents for the most part loans on sterling, which Is an element in the lending of money abroad The increase in deposits from this source expanded the reserve requirements so far that the increased cash only served to raise the surplus by $3750.T75. Business in both stock and bonds was well distributed and active and the market showed a de- cided tendency to broaden out. The amount of business done was larger than
 
 market has shown growing strength and activity as the week advanced, and has fairly shaken off the lethargy which even the long array of favorable factor in the situation has seemed powerless to awaken from even so phenomenal showing as St. PauIs earnings for the second week, in October, the largest in the roads history, and ,nea rlys $li0.090 over those of last year, yserve1 only to encourage feeble resist ance to industrial manipulation for de- o4..rr fr, tno1yc It is a maxim of professional traders that la dull and sagging market for stocks is bound to produce general reaction.
 The uncertainty of the European political situation was cited for additional argument for a season of dulness and declines, but, curiousiy enough the more threatening de- iveloQments of European politics have, indi- rectly at least, given the stimulus to the stock market which enabled 1t to shake off its torpidity. The weeks events in hnan- cial circles have, in fact, given striking demonstration of the strength of this coun- trys financial position and it's power to treat with indifference the old world de- velopments. There has been nothing in the domestic situation which caused more doubts to finances than the low prices in prospect for wheat when the crop, tenn porarily held back, should come forward. But this week has seen the crop coming forward in unprecedented volume. Yet so keen has been the foreign demand for our
 
 ment has made but little impression in the visible supply Even the domestic demand proves unexpectedly keen, indicating that the sweeping out of the worlds reserves by last years high prices and evidently left void which our unprecedented crop was needed to fill. The later news of the mill tary and naval preparations in France and today in England reAulted in a feverish de- mand for wheat, which, if maintained would mean incalculable advantage to this aurfohp6 hu bountiful harvest at the high prices. The prosperity of the western communities from this cause Is exclusively demonstrated by the movement of merchandise, which car ried earnings of western railroads well above last years level, even before the re- sumption of the grain movement. The weeks improvement in stocks therefore be- gun among the western gran-carrying roads. Atchison preferred took leading place in the movement. The money mar kets have shown themselves equally inn previous to the influence of the stringency at all European centers, the Bank of France being the last of the government aided n- stitutions to advance its discount rate which it did on Tuesday from to per cent. Meantime. the large excess of our exports over imports, 1t has been left at interest mostly in Germany to be liquidated in future. The money stringency and the war scare abroad have thrown not far from 100000 shares of stocks on the New York exchange for liquidation during the week. But these have been absorbed at advanced prices and money rates declining. Foreign markets are known to be pretty we'll strip- ped of the usual floating supply of Amer lean securities. But the conceivable result in the event of actual war in Europe and the tapping for liquidation of the vast amounts Of American securities held abroad Tor investment does not leave the situation free from uneasiness
 The bond market has improved in sym- pathy with stocks as the week progressed and prices have recovered from early de- pression: United States old As have ad- vanced F, the new As coupon and tha s,s registered ss, and the As coupon and 5's coupon IS in the bid price.
 The total sales of stocks were 15o. .sOo in- cluding LA Atchison preferred 1s,5ss, Buriing- ton, 6.6s0; Louisville and Nashville. 4.g75. Rock Island, 3.050; St. Paul, $40. Anaricar Tobacco, 49,45s Sugar, 13,9a5. o''