The times., 1899-08-09
STOCK PRICES IMPROVE
Only a Few Advances of Substantial
Proportions Noted.
Easier Money and Glowing Reports
of Crop Prospects Cause the Up-
ward Movement - Dealings Are
Dull and the Market Nearly mt a
StandstiII - The Grangers Gain.

New York, Aug. S.-Today's stock mar
ket developed considerable Improvement
under the influence of easier money and
glowing reports of crop prospects Deal
ings however were on even a smaller scale
than yesterday and at times so duh that
the market was virtually at a standstill.
Practically the entire list showed improve
ment, but there were only few advances
of substantial proportions and these were
mostly in the industrial shares Commits
sion house business was in small volume.
High prices were broughtsabout almost en-.
tirely by the professional element whose
fears of tight money in the Immediate fu-
ture have been relieved and who disregard
ed the prospects of higher rates in the fall
The market opened fairly active and with
a moderately good distribution of business.
A distinctly better tone was impaired by
the continued comparative ease of the local
monetary situation and the sanguine views
taken by number of prominent bankers
as to the improbability of their being any
financial stringency impending although
the predominant opinion is that higher rates
will rule when the crop movement is at
its height next month.
The action of the Secretary OF the Treas
ury in ordering the issuance of $50 gold
certificates to the amount of $40 900 900
also had its influence as did the further
report that the Government had in con-
temptation the purchase of bonds and the
resultant release of this sum from the
Treasury vaults. London, after its three
days holiday, also reported advancing
quotations for American shares, with good
gains above New York's parity in North
ern Pacific issues, st. Paul, and the Cop
per and Coal stocks. Foreign houses in
this market, however traded in some 49,
600 shares mostly sales of the general llst
Extreme dullness marked the dealings
after the opening hour, although most of
the changes in prices were advances. Dis
tinct frmness was apparent in a number
of issues and the tone of the market was
much steadier. Sugar refining was heavy
on continued realizing, but fuctuated
within narrow margins Tennessee Coal
and Iron developed renewed strength and
gained substantially, although it was about
the only active of the steel stocks. The
other stocks were dull, but made small
gains. There We're some small buying
orders of Consolidated Gas, which made a
good gain.
Commission house business showed slight
Improvement over yesterday and the trad
eTS III the early HOufS WORKED LOT DetJeT
prices on the glowing crop prospects. The
grangers led the railroad list in activity.
end all made small gains, with ST. Paul
and Rock Island gaining. Louisville and
Nashville and Atchison preferred were also
bought by strong houses, and showed small
Improvement The coalers We're unusual
ly active, there being little buying credit
ed to inside interests Reading issues led
In activity. all making good gains and with
especially large dealings in the first pre-
ferred.
There were buying orders for Jersey
Central which led in point of net advance,
while Delaware and Hudson improved in
price on small dealings.
Trading continued on small scale until
near the close when further declines in
the money rate stirred up some increas-
ing activity, notably in the specialties, of
which the Tobacco and coal stocks were
the leaders. In the last hour practically
the entire list advanced Sugar was mark
ed up with considerable aggressiveness
and closed with a substantial gain. The
grangers also made further gains in the
final dealings, and the close was firm and
strong and not far from the best Of the
day.