The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-07-28
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest OF Exchange News-Mining Stocks.
Metal Quotations-wool Prices and
Movements-Grain and Pro-
duce-Review Of Trade

New York. July 27.-The stock market
continued narrow and professional to-day
until the last hour, when there developed
more animation and strength than had
been noted for many days past. The late
movement seemed to start with strength
simultaneously displayed by Lake Erie &
Western, Pittsburg c., c.. C. & st. l.. and
Pittsburg & Western preferred. These
stocks gained from Ia for Lake Erie &
Western to points for Pittsburg c., c.,
C. & st. l.. The marking up of Sugar an
extreme 21a and the rise in New York
Central to 14O helped on the movement
and the general market rose above last
nights level. Quite an active demand
sprang up for the grangers and lifted Bur-
lington over point. The activity of the
market did not become general, however
and gains were not at all uniform. The
traders were bearish in the early part of
the day, but finding that prices resisted
pressure, they turned to the long side, en-
ccuraged by the strength of special stocks.
The movement in Rock Island and the
Southwestern stocks showed some diminu-
ton under profit taking, but Kansas &
Texas preferred retained its strength and
advanced over point Sugar also showed
an advancing tendency from the first and
L. & N. which sold ex div. of per cent,
regained 1as of that amount. There was
midday advance in the Tobacco stocks,
which helped on the upward movement
Continental Tobacco common rising Ia,
the preferred and American Tobacco a
point. Mailing stocks recovered smartly
from yesterdays prices and Laclede Gas
jumped 3h points. The development in the
money market began increasing conf
beer large loans made on time stock ex-
change, and 1t is argued that the operators
feel the possibility of a demand for money
that may stifle rates and desire time loans
in the securities they are trying to hold
for long pull. The fact that the Bank
of England did not increase its discount
rate to-day served to lessen anxiety on
the money question and the weekly ex-
hibit of that institution showed that the
open market had been able to reduce its
obligations to the bank very heavily. The
sharp fall in French rentes and reports of
a political crisis in that country were
without much effect in New York. The
mCney market here was somewhat re-
lieved by the transfer of funds from the
sub-treasury to the banks on the payment
for the new custom house site in New
York and it became known that the gcv-
eminent has ceased for the time being
its weekly withdrawal of deposits from
the New York banks which have been
al the rate of s1,000.OO0 a week for some
time past. June statements of net earn
ings completing the fiscal year for num-
her. of railroads were favorable factors
especially that of ST. Paul, showing an
increase in the net earnings for the year
of s1,379.69s 54,
The bond market did not show much
response to the strength in stocks and
fractional declines were the rule. Total
safes. s1,610,000
U. s. new As registered declined u and
the old As registered and SIS registered *
in the bid price