Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-07-13
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange Bonds, Grain,
Cotton, Provisions, Etc.

New York, July 12.-The stock mark
ct showed continued strength to-day,
and buying by professional operators
was on a large scale. There was Il
good demand from outsiders through
commission houses at the opening, en-
couraged by the rise in prices yester-
day, and yesterdays professional buy
erS were free sellers to realize while
this lasted. The market then came to
the customary halt after such Il pro-
cess before taking up an advance. An
eager demand developed for Missouri
Pacific and affected nearly all the
Gould Southwestern group i'll Sympa-
thy. Not only the stocks but all the
securities of this group of railroads
were affected. Missouri Pacific held
the leadership of the market through
out the day and made Il late advance
to 1885, an extreme rise of points. The
motive of this buying was the Wall
street rumor OF plans for merging the
various railroad properties in the
Southwest in which the Goulds are in
terested. Good buying set in carly for
the Changers, Pacifics and Atchison
preferred, and after midday New York
Central was suddenly pushed up an ex-
IRENE 2S. Large buying of Pennsyl-
vania at an advance of IL seemed to
be associated with the New York Cen
trail movement, but an attempt was
made to connect the latter with Union
racine and Northwestern by manipu-
1ating the price of these two stocks
All OF Northw estern's gain was subse-
Quently lost. The manner In which the
buying demand progressed through the
railroad list, together with the upward
tendency in Sugar. prompted the pro-
1essionals to attempt movement in
the Industrial stocks, Leather prefer
red, National Steel Tin Plate, Federal
Steel and General Electric were bid up
between L and Q points, and New York
Air Brake made n characteristic up
ward dash of 10 points. Mexican Cen
tral rose quite conspicuously 2Ia per
cent. under the sentimental influence
OF the opening in New York of sub
scriptlons for the new Mexican refund
ing loan. Sugar. Manhattan and Brook
lyn Transit dropped sharply from top
ngures and many of the gains in the
lndustrials were practically wiped out.
Prices OF the railroads sagged consid-
eraDly from the top and the closing of
the market was decidedly heavy, net
gains being only partly retained Phil
hdelphia Company stock, after selling
at 80, suddenly dropped to 80 in the
late market
The money market was easier to-day
ana confidence is felt that the supply
VIII become still more abundant Mt a
very early date. Several large loans
Tor the purpose of new industrial flota-
lions are now released and the banks
are gaining money from the Sub-Trea-
sury. The bull traders are talking of n
very favorable bank statement on next
Saturday. although the per cent. IA tie
IOr call loans, which held for the
greater part OF to-day, does not indi-
cate plethoric condition as vet. The
New York stock market received some
support to-day from London in spite
OF the continued heaviness there in
other departments. but sharp recov-
cry In British consols and French
rentes late In the day. the fail in the
price of gold in London and the ad-
vance in sterling exchange rates in
Paris and Berlin to-day indicate a re-
leXation of the money market pressure
in London
There was a good business in bonds
to-day, st. Louis Southwestern seconds
Leading the market. Total sales. So.
365. 900 T"'
United States 2's declined 4 and the
3's registered IL. while the old AS reg
1stered advanced 4 in the bid price
The total sales OF stocks were 643 300
shares.
New York. July STANDARD OH.