The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1899-06-24
and dividend disbursements falling due


on July 1st.
The uncertainty of the European po-
slitical outlook and the somewhat crit
ieal state of affairs in South Africa,
with its unfavorable bearing on the
London market was not without ,some
effect, and the foreign representatives
who are in the main sellers of stocks
here, while favorable accounts of the
activity and sustained strength Of the
iron and steel trade seemed insufficient
to -counteract the impression of the
market that the capitalization of steel
industries has more than discounted all
the possibilities in that connection.
1t was also noted that the industrials
furnished the weakest part of the list,
the break in the tobacco stocks being
feature, while the proposed amalga-
nation of the several spirit corpora
tions in the American Distilling Conf
pany, with a capital of $12o,OOO,GOo,
had no result so far as the market was
concerned, other than sharp decline
in American spirit manufacturing.
The traction stocks and specialties
were irregular and weak at times,
though support was extended to them
and the action of short interest
seemed to result in covering and rallies.
Bonds have been active and the in
vestment demand already noticed has
continued In the early part of the
week new high record prices were made
in a number of prime issues but later
on there were some fractional conces-
sions.
NEW. YORK, June 23.-Bradstreets
tomorrow will say:
Less than the average effect of APP
preaching midsummer influence is dis
cernible in current trade reports.
Prices, too, show strength unusual
at this period, and particularly in view
of recent steady advances. This is
notably manifest Of course, in the iron
and steel industry where the tendency
of values is still upward, though the
advances reported are not uniform at
all markets, pointing to individual in
stances of business done at best posi-
BILE prices. Where prompt delivery can
be guaranteed, fancy quotations are in
many cases obtainable and testimony
to the scarcity of supplies is universal.
Hopes of improvement in the wooden
goods industry have materialized in an
active demand at leading markets.
Wool is more active and firm in sym
pathy Herewith. and, sales are larger,
though mostly on speculative account.
A feature is heavy sales of high grade
domestic woods to foreign buyers, but
whether this wool will go abroad de-
Ponds upon next weeks London sales.
Improved.Fcrop reports are responsible
chiefly for lower quotations of products
declining in price this week. Wheat
has been affected by glowing reports
from spring wheat sections, but more
especially by continued enormous de-
hveries of old crop supplies pointing
to the 1893 spring wheat yield, and
therefore aggregate yield Of the coun-
try having been heavily underesti-
mated. At the decline, however, good
buying on export account has devel-
oped.
Raw sugar is lower. on unanimous re-
ports Of improving crop prospects the
world over, but refined sugar is in
heavy domestic demand and firm. -
In industrial lines generally there is
little more than the usual friction in
wages. the most serious disturbance
being the Colorado smelling strike
Railroad reports point to an exception
ally large traffic doing and earnings
reports continue favorable particularly
in the Northwest but passenger and
freight rate cuts are increasing.
Wheat, including -four, shipments for
the week aggregate 3,765,719 bushels,
against 2,799, All last week: g, f9g,47O
in the corresponding week of 1898;
2.156, 246 in 1897; 2,S37.631 in 1896,
and 1864, 4O2 in 1895. Since July 1st
this season. the exports Of wheat ag-
gregated 221, 769,672 bushels, against
2I9.O13303 bushels last year.
Z Business failures probably reflect
semi annual settlements, numbering
for the week 100, as against $50 last
week; 22O in this week a year ago;
215 IN 1895.
Failures IN Canada for the week num-
Der 10, agaansts25 last week, and 10 in
this week a year ago
= The pearl oyster begins to produce
pearls when Il Is six AoE seven years old.