The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-08-15
STARTED WITH A RUSH.
But Lapsed Into the SpOtty Condition
which Has Been Its Recent Char
acteriStic

But Lapsed Into the SpOtty Condition
Which Has Been Its Recent Char
acteristic.
New York. Aug 1.-THE stock market
started off with something of an upward
rush, stock exchange traders and a small
outside following had apparently come to
the conclusion that Saturdays bank state
ment indicated that all vexed problems in
the money market had been settled and
that ease and abundance of funds were not
a hand.
The first sharp advance in stocks how
ever, demonstrated that the pressure of
some heavy selling would have to be en-
countered on any general upward move
ment. The market thereafter lapsed into
the spotty condition which has been its re-
cent characteristic. a small number of
stocks showed very marked strength, but
the usually active and prominent Stocks
lay practically dormant throughout the
session, and showed a sagging tendency
which the strength in special instances
had no effect towards counteractng.
Tennessee Coal and Iron advanced by
sensational leaps an extreme six and three
quarters points, giving color to prevalent
rumors of a corner in the stock. The tone
was feVerish below the high level and the
net gain was 334.
The announcement of the smelters stock
settlement in Colorado enhanced the prices
of quite a number of stocks. including
American Smelling, which is most direct
~ affected, Colorado Fuel, Denver and Rio
Grande stocks and Colorado Southern
stocks Gains in the group ranged from II
in Denver and Rio GTande to "a in Colo
RADIO Fuel preferred. The smelling stocks
rose 39s and 2a4 respectively.
The railroad stocks to show strength,
We're comparatively few. The Chicago
Great Western debentures started down
ward after their notable rise on Saturday,
and are nearly two points off on the day
but the preferred A stock is over two
points and the preferred b stock over
point. Besides these there are notable
gains in the Pittsburg, Cincinnati, CHICAGO
and ST Louis stock, Louisville Kansas
and Texas preferred the Minneapolis St
Paul and Sault Ste Marie stocks, Cleve-
land, Lorain and Wheeling preferred, and
some of the low priced railroad stocks
Confidence over the money situation had
a relapse, the conviction growing thar the
Saturday bank statement may not be a
fair reflection of Saturday conditions in
the market. Uneasiness and depression
were also reflected from abroad, political
disquiet in France and advancing money
in London and Berlin threatening some
pressure of liquidation from those quar-
ters should this country'S credits be called
home.
Whatever ease is manifest in the money
market is realized TO be due to the quiet
Ude of speculative markets the world over
and conservative heads in the financial
world are inclined to frown upon an out
break Of speculation.
The closing Of the market was active but
extremely Irregular. Peoples Gas mounted
above 122 on the announcement of the ac-
QUESTION of the Pullman Gas Company,
while other stocks tended downward. Net
changes are mixed.
The bond market showed increased activ-
ity Kansas and Texas End, leading. Prices
are higher. Total sales par value, 50, 5S1 U00
United States SIS and new As advanced A.
The total sales of stocks to-day were
4472C0 shares, including Atchison preferred
10, $50; Chesapeake and Ohio, $3.50; Chicago
Great Western, Il 800; Burlington 1910;
Louisville and Nashville, 6,230 Missouri
Kansas and Texas preferred, 20,S,5;
Northern Pacific, 1900; Pennsylvania, o.
290 ST. Paul, $3.50; Southern Railway, o.
000 Southern Railway preferred, 1900;
American Hoop, 7,l00; American Steel and
Wire, 25,77O; Tobacco, 46,149 Brooklyn
Transit, IA, 174 Colorado Fuel and Iron ,9tlC,
Continental Tobacco, 1920; Federal Steel,
II $50; Peoples Gas, 25645; Sugar, 1882;
Tennessee Coal 2,S75; United States
Leather Is. 799.