The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-09-07
Howard. Crosby & Co.'S Boston Letter.

NIloWdIu, CTosDy & 20. S Boston Letter J
Boston, Sept 6.-Liverpool opened with
wheat quiet and unchanged. In Chicago
the market opened barely steady. North
west receipts are gaining on last wear,
being 945 cars today, against 472 last
week and 1119 same day last year liver
there is the unsettled South African situa-
ton. In New York wheat had a dull and
teatureless opening at steady prices. The
trade was of a professional nature and
the crowd little short, which accounted
for the steadiness. The foreign element
was disinterested and home-crop features
unimportant Later in the session wheat
developed considerable strength on bull
lsh northwest markets, and the sharp
competition among shorts aided mate
rally IN advancing prices, but otherwise
there was but little feature to the market
Prime reports damage to corn by hot
winds, yesterday being the hottest day
that the west and south have known for
many years, If ever, in the month of Sep
tember. French and English country
markets closed quiet. with wheat off coast
and on passage easier and neglected. The
general favorable weather in the last 10
Gays mas allowed spring wheat to reach
maturity and the crop is practically Sc
cured. An accurate estimate of the crop
can not be made for many months. but
leading authorities figure it to be from
525, 6OOO0 to 575 900, 900.
The stock market opened strong and
utterly Indifferent to the continued, con-
hicting advices as to the Transvaal sit
udloH. w nat looked ike a corner on
Tennessee Coal & Iron developed, and
that stock scored another 9-point rise
The reason given by the insiders for the
advance is that the company is at last
getting the benefit of the advanced prices
for iron and profits are rapidly accumu-
lating for, the common stock but the
gossip of the street is that they are gun
ming for a certain young and daring
operator. Colorado Fuel & Iron advanced
over points, but lost part Of the gain
Manhattan, Metropolitan and BROOKLYN
Rapid Transit each rose over point: and
Brooklyn Rapid Transit and Tennessee
Coal u Iron offer a curious comparison
as neither stock has ever paid a dividend
nor earned any up TO a year ago at least
The grangers showed fractional gains.
ANACONDA was weak in sympathy with
London, and after the first hour the gen
eral market quoted down and eased off
somewhat. Traders sold around the room.
helped by brokers of at least one bear
interest Commission house business was
light. The market for American seclIri-
ties in London opened steady In New
YORK the tone OF the money market con-
tinues firm Germany has a big line of
Amerlcan securitie-, probably more
Northern Pacific than anything else;
while Paris has no American stocks
There are a number OF powerful nools
who are DESTROYS of higher prices and
may be able to bring them about: but
while they are making confident predic.
tons. the heads of some of the largest
financial institutions dwell graveIy IN
the over-eXtended condition Of The street
ana the contraction of its cash holdings
Ihe only outcome these observers can
foresee Is the liquidation of pyramided
accounts and other weak holdings.