The daily morning journal and courier., 1898-08-03
F tnamcral.
The Stock Market.


 New York, Aug. 2.-The tendency of the speculation in railroad stocks to separate itself from that in the indus trial specialties became more marked to-day than yesterday. The industrials have not yet fallen to a minor place in the speculation, as they are likely to do at time when a widespread general demand springs up for standard rail- road securities, but there were evil dences of a continuation of speculative movements in some of them to-day and the realizing was covered by manipula- tive advances in others.
 Brooklyn Transit and Rubber were the most conspicuous sufferers from liquidation, while Tobacco and Cotton Oil continued to advance. By far the most significant movement in the mar ket was the enlarged demand for rail- road stocks. This was most conspicu- ous in the grangers, but the Pacific railroads also shared in the movement, and there was a distinctly broadening tendency all through tue list, various inert stocks making large gains, be- cause of belated advances to the high CT level established in the last few days. The granger movement turned on traffic possibilities and was accom- panied by intimations that some of the group will show an increase in earnings for July in spite of the large falling off with last year,
 Much importance was given to the report received by the state department from the United States consul at Mos COW that Russia is considering a prop osition to forbid the exportation of grain owing to the failure of the crops | to make good the past years large de- | pletion in reserves.
 1 The fact that gold imports were fair | ly inaugurated to-day with the an. nouncement that over $2,000 900 was en- gagged in London for import and over S1 300, ,000 shipped from Sydney for Sar | Francisco had a sentimental effect ir | hardening the market. There was noth- | ing in the local money market, how ever, to indicate the need of additiona- | funds. The sub-treasury is again los. | ing largely to the banks on account ot | w dI eNptllullul anu lltIe IS 1lO dD- preciable demand from the interior ir | spite of the large increase in business | and the movement of the crops. The absence of this usual demand from the | interior offers a relief from possible | currency famine, if dependence were | placed on the New York banks, whose | legal tenders now amount to only $6O,- | SIS, 9,400, as compared with $109 ,9S4 00C | last year. But this does not help tC show what use will be found for the additional gold now on it's way to these i shores, with the specie holdings of the | New York, banks, amounting to oyer 1 $166, ,O00, 900, as against less than $92, ,O00,. 1 900 last year.
 The bond market was active to-day in middle and lower grade issues, which quite generally advanced. The tota
 sales were $3,245,OO0.
 United States threes touched 105 to. | day on sales, and the governments were | strong all around on the announcement | by treasury official that there would | probably be no need of any issue o1 bonds on account of the large interna revenue receipts under the new law | United States twos and the old fours registered advanced F and the fives i the old fours coupon and the new fours advanced 14 in the bid price.
 NET FORK ST0CK MIRRET