Daily press. [volume] (Newport News, Va.) 1896-current, 1898-07-17
NEW YORK STOCK EXCHANGE;

'o'oS' Sees1GS' government bonds.
steady
NEW YORK STOCK EXCHANGE.
NEW YORK. July l6.-wall street
apparently remained unconyinced "a
day that values of securities had henn
Increased by the capitulation of San
tlaSo. ana prices Stubbornly refused TO
;tnVance in fact Of that event The up-
ward tendency OF Americans in Lon
con was viewed with apathy and the
lew advances at the opening here were
no; up to the London parity. The ac
cunulated orders in commission houses
We're OF very small volume the out
side public being apparently taken up
With other interests than specula ton in
stocks. The bears were confident and
aggressive, and were prompt to take
advantage of the absence of buying
demand to attack the market.
There seems no impending develop
inent in the war situation to require
caution on the part of the shorts The
bank statement Is not readily analysed.
The decrease in cash of $4.o49.900 is
practically all accounted for by the
gains Of the sub treasury during the
week on account of bond subscriptions
The governments gain on this ac-
count is not reflected in the deposit
average of the banks as was the case
last week The loan expansion is con
slierably curtailed but still reflects
q good business ituatlon. The legal
reserve requirement is very little
crease in deposits SO that the decline
in cash is almost reflected in the In
crease of the surplus. ..
Early in the week there WAS a very
conspicuous pressure in money seeking
investment. as Il result. probably of
n" certainty that the government loan
would be easily taken UP by small bid
ders. thus releasing funds held against
bids made for large amounts.
The movement was most conspicuous
in what are called speculative bonds
the present high prices OF we'll secured
the speculative bonds. one class is ma de
1r securities OF bankrupt reads with a
reorganiZa ton in prospect. and an e1-
change of existing securities for new
issues. Another is the bonds of newly
ArSnni2cd roads still held by large UNI
dcrwriting $yndicates who have not re-
,lized on them and presumably there
fore not found their true price level.
Another is the So-called income and
adjustment bonds. the amount of the
payment upon which is contingent upon
earnings. All three of these classes
have been largely dealt in during the
week the total par value of sales each
dav running nearly $4,000, 900 and not
falling between s3.o0o000 until Friday
Atch,son y. l3E
Baltimore 81 Ohio. .-........... ID:
Canada Pacific ................ S3l
Canada Southern. ........... 52l
Chesapeake & Ohio. ......... 22l
Chicago 81 Alton ............ 159
Chicago, Burlingtori & Quincy. 1051
G. G. G. g. St. H.. 40!
do do pref'd. ............ 50.
Delaware s. Hudson. 1O4
Delaware, lack. 81 w -. !. 1866
Erie (new) -. IL
Fort Wayne. 80. 17U
Great Northern pref'd. ......... 125
Illinois Central 1Ool
Lake Shore 1888!
! Louisville 81 Nashville. 81
Manhattan Il .-........ ....... Jos
Michigan Central. 1n4i
Missouri Pacific. 341
Mobile Il Ohio. 253
New Jersey Central 50
New York Central. ...... -. 1114
Norfolk u Western ... ii
Northern Pacific. .... ... 2S4
do pref'd 49,. u
| iittsburg.. $3.50. 49,. ......... 17Ut
Reading. 49,. 1Gf
Rock Island. .......... %
st. Paul. So. rs
do pref'd. .... ...... ISL
Southern Pacific. Isl
Southern Railway. Observation-Disclosures. 8
do pref'd. Observation-Disclosures. 30
Texas 81 Pacific. .... 125
Union Pacific pref'd. :. ...... GOV
Adams Express. Observation-Disclosures. 9H4
american Express ~. ....., 1872
United States Express ..... 40
Wells Fargo Express .... lis
American Tobacco. ........ -. 1lSa
DO prefd 100
Peoples Gas Observation-Disclosures. Y7s
Consolidated Gas. ............. 1916
General Electric. .............. 3Sl
Pacific Mail ......... ........... .S4
Pullman Palace Pow
Silver Certificates. SO
Sugar Observation-Disclosures. 1879
DO PREF Observation-Disclosures. 113!
Tennessee Coal T. Iron pa
Western Unlou. ................ JlS
Chicago Northwestern. ......... 1871
DO pref u Observation-Disclosures. l70s
Chicago Great Western ID: