The Portland daily press., 1899-09-15
PMAAClAL AMI COAaERCIAL
Quotations Of Staple Products in ihe
Leading Markets.
New York stock, Money and Grain
Market Review.
lLsttsr Of prioe. Mccormlok 8 Co.

the news from the Transvaal, he Lon
don papers being inclined to thu belief
that the demands OF the British govern
ment would bs acceded to; that cons,-
quently there would be now war. Fur
ther, there was no advance In the Bank
Of England's discount rats. .and the week.
ly statement of the bank made a distinct.
ly favorable showing. The proportion OF
reserve to liability is now sc Is per cent
as against 81. .25 per cent last week and
1881 per cent last year. Foreign houses
were fairly large buyers during the frat
hour, Of the International stocks, their
purchases being especially noticeable in
Atchison preferred and st. Paul. Their
purchases to st Paul induced some of
the traders to follow them, the profe
slonal buying being based on the belief
that London often has better Information
in regard OF st, Paul than we do and
therefore there were fairly good grounds
for believing that the dividend would
be Increased. just after two o'clock 1t
was announced that the St. Paul directors
had declared the regular semi-annual div
idend of two and a half per can't. Among
the mora conservative brokers this action
of the st. Paul directors met with ap-
proval. There are many Improvements
which, II not absolutely necessary are
dssirsble, and it 10 In suoh prosp srous
tlmes as thess that such Improvements
can be made. In the annual report of the
st. Paul Company 1t was shown that
there was one branch, for In 'ta noe, of $40
H. l..
iron rails. To apply surplus earnings for
the equipment of this branch with steel
rails is sound railroad policy; by making
the necessary Improvements at such
time, the company win be enabled In bad
times TO maintain the present rate of
dividend.
Other strong stocks were L. Q. and
q, FL, but both of them made their
highest prices at the opening and grad
day on what looked like sales by insiders.
There was q continuation of the
strength of American Tobacco, the buy
ing being again through so-called in
sldehrokers.
b. r. 4 was under considerable pres.
sure and did not enjoy very much support
from the Flower brokers.
The money market was distinctly easier
tina yesterday The morning loans were
generally made at six per oens, while
during the afternoon great deal OF
money was lert at five per cent. 1t is
believed that the lover rates are, to.
some extent, caused by the heavy liquida.
tion which took place during the early
part of the week. The Rock Island di-
rectors declared the re gular dividend.
1t is stated that Burlington will earn
for the year approximately $50 Oj0,0C0
The road Is said to have enough ton
mage in sight to keep it busy for the next
year and a half.
THE WHEAT MARKET.
Chicago, September Il. After advanc.
ing s-sc early, later broke $3.50 on longs
realizing. The September option was
relatively weak and the premium mar
rowed TO is over Deoember. Foreign
markets were very quiet, Liverpool only
Lid higher for the day. Continental
markets we're generally steady and un-
changed. Weather in this country and
abroad was reported favorable. Receipts
at Chicago and the northwest 1926 cars
aagiust 1882 cars last year. Clsarances
from Atlantic seaboard 492. COO wheat and
-four. Receipts at primary points were
1,34l, 600 against l,1l0,000 last year
Cash demand was very quiet here and
there was only a moderate demand at
seaboard for export. Trade here has not
been large today and what there was,
was of local professional character
Small export demand is the disoouraging
feature and until this improves prices
are likely TO work to lower blsis. Es-
timsted tomorrow 1876 cars.
Corn-Aftsr advancing early $50. fer
September and Ia for other months, lat
ter easea of IN sympathy with wheat.
Liverpool reported her markes firm LA
higher In sympathy with our advance
Country offerings were fair Estimated
reoeipfs for tomorrow s75 Weather was
generally favorable for the crop. There
was no special feature to the market.
Oats ruled steady all day with only q
light trade and no special feature. At
ter ruling firm early. later ease or in
sympathy with wheat Cash demand was
rather quiet. Estimated tomorrow 3s5
cars.
NEW YORK, Sept "a.
Money on call was firm at 596 per cent;
last loan 51a per cent? prime mercantile paper
at 414 40 per ct Sterling Exchange steady,
with actual business in bankers bills s5s4
case for demand, 4 S21a "A S24 FOR six.