Daily press. [volume] (Newport News, Va.) 1896-current, 1899-11-17
REPOR is
NEW YORK STOCK MARKET.

response this morning to the promise OF
relief to the money market contained
in Secretary Cages circular Offering
to redeem S25. 900 900 OF government
bonds at the market price of Wcdnes-
day. The first hour of the trading
witnessed q Very broad. animated and
buoyant market. the activity and
strength being very generally distrib-
uted throughout the list. The rapidity
of the advance invited considerable
profit taking and there were quick re
cessic''s from the opening level. But
the land for stocks continued IN
appc i and until the higher level was
reacl'' again the buying continued.
AT til high level there was d diminu-
ton in the demand but the undercur-
rent Of demand remained remarkably
firm and offerings to realize were quick
" absorbed The whole market hinged
on the days developments concerning
the treasury department offer. though
the opening strength was added to by
sympathy With London, where the
markets We're affected by the rumor Of
the death Of the Bocr general. General
joubcrt. The Very considerable amount
Of bonds brought to the sub-trcasu:y
during the day sustained the strength
Of the market. .. ~
TOTAL OFFERINGS.
The total amount offered was S2.S9i.-
600. but Wall street was full of rumurs
Of very heavy blocks of bonds ;iccum,-
lated in banking interests for the cx-
press purpose Of awaiting themselves of
the first offer to buy by the treasury
department. The aggregate amount
covered by these rumOrS was conSu-
erably in excess Of the total amount OF
bonds TO be taken up by the treasury.
No continuation Of these rumors could
be had. however. a buoyant tone was
impaired to other government issues
at the call on the stock exchange APP
parcntly on tn" theory that the offer OF
the secretary of the treasury might Ia
ter be extended to include additional
bonds.
The money market was somewhat
easier in tone but did not yield below
per cent. The response in the foreign
exchange market, however. was mark
90. Posted rates for sterling were
marked up d, full cent in the pound and
actual rates rose half Il &C mt all around
in spite of easier money market at
London and 1T continental ccntcrs.
Tho strong tone Of government bodS
would naturally serve to discourage the
acceptance by holders of the offer Of
the treasury departments 50 f;tl. as
the available supply is concerned it
was known up t" Il recent time that
the New York banks would have diff
Guilty in obtaining additional govern
mrnt bonds as security for government
deposits, in the event of an offer by tho
treasury department to increase its de-
poSitS. .H"
ACCUMULATION or BONDS.
There has been some accumulation
Of bonds by the banks in the last few
weeks. but no reliable estimate can be
obtained Of how far their previous
holdings have been increased The
previous holdings We're mostly in use
as security for circulation and for
government deposits, SO that their sale
to the government would! not serve %
Increase the money supply in the mar
ket. 1t is not believed thar private
holdings of bonds ana holdings b
t'duciary institutions as investments
will be drawn upon to any extent in
response TO the offer or redemption.
The bond market was active ana
strong. the speculative issues and reor-
ganiZation bonds being favorites. To-
tai sales. par vale. s3.57O,0 900.
The total sales of stocks today We're
49,, 400 shares.
Stocks closed as follows:
:Ntchson Observation-Disclosures. 23a2ss
AtchisOn. prcf'u Observation-Disclosures. Co.'S
BALTIC & Ohio Observation-Disclosures. 50
Canadian Pacific Observation-Disclosures. y4a:
Canada Southern Observation-Disclosures. 49, Z.
Chcssl. & Ohio Observation-Disclosures. 2S[s
Chicago Great Western ......... 1l*4
Chic. Bur. & Quincy .............. 1895
Chic. Ind. & Louis. .............. II
Chic. Ind. & Louis. pref'd ......- ~
Chic. 4 East. Illinois ............. 96l:
Chic. x Northwestern ............. 1851:
chic. Rock Island & Pacific ...1l4is
G. G. {. * St Louis .............. 60
colorado Southern acknowledgements. 63t
Colorado Southern, LIST pref'd ..... 81
Colorado Southern, "a rrcf'd ~. ISL.
Del. 4 Hudson Observation-Disclosures. 122
Del. Lack. & Western ..... 1901.
Denver & r. G.. Observation-Disclosures. 21l.
Denver & r. g.. prcrd ............ 1913
Erie, LIST prcf'd Observation-Disclosures. :!7A
Great Northern, prcf'd ...... 17+
iiockihS 'soal ACKNOWLEDGEMENTS. 10 .
Hooking Valley Observation-Disclosures. 50
Illinois Central
iowa central 14ls
iowa Central, pref'd Observation-Disclosures. 59M.
Kan. City, Pitts. & Gulf ....... So
Lake Erie & Western ...... is
L. E. & Western, prefd ........-... rs
Lake SHORE .......... 19S
Louisville & Nashville ... ST.
Manhattan =: 1o3
Metropolitan st. Try. 191
Mexican Central Observation-Disclosures. 1s3s
Mimi. & st. Louis Observation-Disclosures. 10
Mimi. Il st. L.. prcfd ............. %
Missouri Pacific Observation-Disclosures. iS7G
Mobile & Ohio 45l~
Missouri. Kan. & Texas 123I
Missouri Kan. & Tex, pref'd w :;93s
Now Jersey Central ............. .12334
New York Central ................ .131 "a
Norfolk 4 Western ............ 27as
Norfolk & Western. prcfd ........ 7o5s
Northern Pacific Observation-Disclosures. 552s
Northern Pacific prcf'd ............ 75ss
ontario & Western ................ 257s
Oregon Ity. & Nav. ... ~
Oregon I>y. x Nav. pref'd ....... IS
Pehnsylvan1a Observation-Disclosures. 130%s
reading -..................... p
Reading. lst prcf'd Observation-Disclosures. ;,97s
Ecading. - rrcfd acknowledgements. II Z.
Rio Grande Western ............ 80
tIo t;randc Western. pref'd ....... 81
ST. Louis 4 San Fran . Ip7.