The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-08-24
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest of Exchange News-Mining Stocks.
Metal Quotations-WoolP ricss and
Movements-Grain and Pro-
duce-Rsview of Trade.

New York. Aug. 2s-Affairs in the stock
market took cheerful appearance from
the opening to-day and there was no ma
terial setback in the advance in prices
from start to finish, though the dealings
were decidedly irregular at times during
the day. 1t became manifest at the open
ing that the inside interests in Brooklyn
Transit were prepared to offer very de-
termined resistance to any further de-
cline in that stock which they have not
been doing for some time past. To-day
the price was never more than IA above
last nights level and was extremely few
erish all day within a range of about
points But pressure against the stock
was relaxed when the determined nature
of the support became evident. There was
some disposition to cover short contracts
In other stocks which have shown sympa-
thetic weakness with Brooklyn Transit.
The cessation of the bear campaign left
the way open for an unopposed advance,
and there was large element inclined
to buy stocks. The advance in American
Tobacco was the most conspicuous move
ment Of the day. A deluge of offerings
was encountered at every point up, which
caused temporary halt, but after the
absorption of these the upward movement
was resumed. The extreme rise was over
points. Continental Tobacco stocks rose
8 and over 2 points respectively in sympa-
thy. Sugar showed momentary weakness
at the opening, but was increasingly
strong as the day progressed and is up
2la on the day. There were heavy takings
of Leather stocks, which gained III and
3ss respectively. In the railroad list bust
ness was exceedingly well distributed and
a large number of stocks show gains be-
tween ! and points. The most notable
II. to- \, pVtv, tnt
was the tendency to turn to the middle
and low-priced stocks, while the high
priced and established dividend payers
were almost universally quiet. In TACT,
not few of this grade showed net losses.
The low return at present dividend rates
made by the high-grade railroad stocks
and the prospects of coming dividends or
increased dividends in lower grade issues,
owing to the continued increase in rail-
road earnings, were the motives of this
development in speculation. Common
stocks of reorganized companies, having
preferred stocks ahead of them
whose dividend claims are provided for
with an accommodating surplus of earnings
heyonu, were the favorites. Some of the
Southern and Southwes ,ern stocks which
have had recent large advances were held
back by realizing. With the exceptions
noted the strength was well distributed
through the different railroad groups. Net
gains of points or upwards are shown
by b. & o., Erie first preferred, Hooking
Valley Northern Pacific Fort Worth and
Rio Grande; Chicago & Eastern Illinois
and st. Paul & Duluth rose an extreme 4
points, ~
A much more cheerful sentiment was
reflected from the foreign stock markets
to-day, and London was a buyer in this
market.
The bond market was active and strong
and dealings We're fairly well distributed
among the speculative bonds. Total sales,
par value, s3.0O7,OG0. U. S. SIS declined a
in the bid price.