The times., 1898-08-06


| Northern pacinc, pfa... 7lh 73A 72sS 73ss
racine MALI. .......... SlA 3lA 3i 3lA
| Phlla& heading .......... Is Is1s IL 1874
Soutnern halfway pIo 523s 32S 81 32ss
| Texas Pacific. $500. I2m l2as i2ts l2n
| Tennessee Loal ana iron 70 "a z6 26A
| Union Paciuc new. .45S 2on 243s 25A
| L, D. Leather pfd....... CS.4 tS4 beA CS 4
| W abash. pfd. ........ lyH 20 I9b %
Western Cnioa Tel...... .3;s VA g3,s vi
| U. L. pfd ....-........-... GA G37s 6s1s g3.a
A. .. w .-..-..-.-. ~ S91a 81 80
| U. 5. Rubber ............ 3sa 401s 36H 59A
| U. >. Rubber pfd..-..... Wa W vo1a W
There was an excellent stock market
| yesterday. There was some hesitancy in
! the first hour, and some selling, but the
| professional element, which made this
movement, was caught neatly by the
strength of the later prices. After II
| o'clock there was almost a continuous
advance to the best prices yet in many
| issues. There appears to be an indication
chat substantial advance is coming.
| The immediate prospect OF peace Is not,
| perhaps as bright as ii was two days
| ago. 1t is not certain now, as 1t seemed
on Thursday, that Spain will accept
the American terms today. Ye;, few
| doubt that the end of the war Is not far
distant.
London was a seller yesterday, for some
| there was, as said before. an effort of
the professional element to put down
the market by hammering the indus
trials. The industrials went off for
time, but the remainder of the market
would not follow them. Then the manip
ulators gave up the game and the trust
stocks went up with the remainder OF
the issues. Sugar closed at the highest
figure of the day. and other industrials
did almost as well.
The grangers were the feature of the
day. These issues were bought by in
vestors and spectators alike. They did
not hesitate at any momen. of the day.
The condition of the grain-carrying
roads has been the subject of comment
in this column several times of late.
The fact that their position is exception
ally good at this time cannot be dwelt
upon too strongly, however Burlington
had an advance yesterday which car
ried IL 10 112, the highest point in re-
cent years Rock Island was also bought
well. There is no good reason why Bur-
lington should not pay larger dividend.
The Brunswick City Company stock was
fairly active yesterday and strong. The
reason of this is probably TO be ex-
planned by the official announcement that
the company's funded debt is almost en-
tirely paid off The Brunswick company
has real estate in the industrial city OF
Brunswick, Ga, valued at A.0o0,0o0 The
bonds have been paid off by a syndicate
of New York business men, who have
subscribed to the stock Of the company.
The earnings of the Southern Railway
for the fourth week of July increased to
the remarkable extent of $4,000. Oregon
Short Line reports for June an increased
surplus of 5000. The earnings of the
Texas Pacific for the fourth week of July
increased $1,000. For the month the in
crease was S, 900. From January l the
increase was S476,000.
There was strong buying in Spanish
fours in London yesterday. The price
went up TO ~, the highest price since
several months before the war.
New York. Aug 5.-Dun's Weekly Re-
view of Trade tomorrow will say:
Failures Were in number fewer than in
either of the four preceding years. and in
amount of liabilities smaller than in any
year excepting the last, when July fail
ures were both fewer and in amount
smaller than in any previous year. Two
large failures of real estate corporations
make up nearly a quarter of the aggre-
gate this year, and few others not con-
nected with the general condition of bust
ness make up over 40 per cent of the man
ufacturing aggregate. In the three full
months since the war was declared the
failures in manufacturing and trading
have amounted to only $4,000 more than
last year and have been smaller than in
the same months of any other year.
Prospects of peace stimulate many
kinds of business. In spite of records. the
impression prevails that delay and hesi-
tation have legitimately resulted from
war. and larger contracts are in fact COM
ing forward for iron products with a bet
ter general demand in most industries.
The volume of payments through all
clearing houses was the largest ever
known in July, being per cent larger
than in 1892 for the month and for the
past week III per cent larger Most in
dustrial works have resumed, after a
shorter vacation, with fewer participating
than usual. A few labor troubles only
call attention to the fact that this sea-
son has been remarkably free from sucb
hindrances.
In spite of a promise of 100000 OoO bpsb-
els of wheat, including 900, GOO, 900 Snring
this year. the price is 21-2c higher far
the week The disposition of farmers to
hoid back their wheat for prices more like
those obtainable recently accounts for re-
ceipts being Sc per cent smaller than last
year, but exports, including flour. were
3,64l,6fl bushels, against 2,530, ,725 for the
same week last year, and for five weeks
OF the crop year l2,414,S39 bushels, against
e,S73, 1872 last year.
Corn exports for the week have been
only 1734.3i1 bushels. against 2, .09O last
year, though the price has scarcely de-
clined- Cotton is unchanged and crop
advices are so favorable that with acre
age not quite half of l per cent smaller
than last year some expect crop nearly
1,G00,GG0 bales larger.
"A rather better demand for staple cot
ton goods does not relieve the overpro-
duction in print cloths, and goods are
practically unchanged in prices Western
stiffness in holding wool and the New En-
gland wool paper drifting this way and
largely refused indicate another attempt
to tire out the manufacturers, who are
actually offering for worsted wool to
cents below asking prices and not buying
scarcely any. Sales at the chief markets
amount to 4SS6,600 pounds for the week.
against 12 052, 500 last year.
1.-The iron manufacture has nearly if
not quite, resumed it's full production
except in the valleys, where Bessemer
producers are closing in turn under
agreement TO force prices upward The
demand for rails includes bids for next
Winter and next year; a Chicago sale of
1000 tons for Japan, and Eastern sales
of 5000 tons for American roads; $500
tons for Prince Edward Island next year,
and 24.000 tons deliverable in three years
for Mexico Plates are in unprecedented
demand. Bars are so much stronger that
many mills refuse less than 81 for iron,
though steel bars sell largely at 90 cents