The Portland daily press., 1899-08-22
FINANCIAL and COMMERCIAL
Quotations Of Staple Products in the
Leading Markets.
New York stock, Money and Grain
Market Review.
(From Price, Mccormick s. Co., ZIG Mid
die street.)

die street.)
New York, August 2l.-The afternoon
market was dominated by weakness in
Brooklyn caused by rumors of the resign
alton of President Rossiter. Heavy liqui-
dalton took place not only in Brooklyn
but In the local traction shares generally
but very soon extended throughout the
general list. The buying power CON-
tinued aggressive, however. and Tor
awhile little impression was made by
those interested in bringing about low
er range OF prices. Shortly before TWO
O'CLOCK, however, rumors that the Trails
vsal had rejected the ultimatum Of Secre-
tary Chamberlain threw chill over the
bullish sentiment that characterized the
whole market up to midday and selling
began on a larger scale than for q. week
past The so-called Flower stocks seemed
to suffer most severely, Brooklyn Rapid
Transit selling down from 100 Ia to
103 5-S; Peoples Gas from 121 IL to 1870,
International Paper from ii to 80, and
Federal Steel from co i-2 to 81 Is. Such
extensive declines were naturally with
pronounced effect upon the whole list
and the downward movement was some
what sensational A sharp rally on
covering by shorts steadied the market
towards the close and as result but
fractional losses In railroad shares were
recorded for the day. The general under
tone continued strong with sentiment
still favoring the side of higher prices
under the belief that whatever the future
course of price in Brooklyn, International
Paper or like stocks in which the public
is but very little interested may be the
general market viii not suffer much. the
rumored trouble in the Transvaal will
doubtless prove much less serious than is
now feared and underlying conditions so
favorable to investments securities win
again reassert themselves. The close was
fairly steady at slightly lower than last
nights prices in all but the specialties
above mentioned.
Chicago, August 21.--Wheat market
ruled weak today on selling but by local
longs as well as by bears owing to the
favorable response by foreign markets to
our advance of Saturday and prices dur
ing the early part of the session declined
3.4 cents. Liverpool reported their market
as quiet, lid. higher for the day. Con-
tinental markets were steady aud a shade
higher. Worlds shipments we're reported
at 6,S00.0O0 bushels. Amount on passage
to Europe dec. 1900, 600 bushels. Visible
supply dec. rather less than expected,
namely 90. coo bushels, receipts at primary
points were 10000 bushels against 1, 4O5,-
900 last year. Cleannces from Atlantic
seaboard 1876 000 bushels wheat and flour
receipts at Chicago and the northwest
were S6s cars against / 1856 cars last year.
Weather throughout the spring wheat
belt rhowed some Improvement. q ash
demand YVES good for local miIlers but
rather quiet for export. Weather abroad
is reported TO be favorable for harvesting.
SNOW, who, has been travelling in the
northwest reports the spring wheat crop
yielding less than generally expected.
Our own private adyiees from South
Dakota indicate that the crop will be at
least 20 per cent less than a year ago.
Trade has been fairly large all day and
We still believe that prices will rule high
er later on, although market Will get set
backs from time TO time, but on th csc
weak spots we advise taking the oppor-
tunity to buy. Estimated receipts tomor-
row 1856 cars.