The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1899-08-09
FINANCIAL AND COMMERCIAL
Quotations Of Staple Products in Che
Leading Markets.
New York stock, Money and Graip
Market Review.
tstooE Letter Of Price, mccormick Co..

(Stook Lettsr Of Price, Mccormick Col
New York. Aug s.--Alshough the ten
dency in the London market seemed to be
towards higher prices for Americans the
opening here was extremely dull and
prices were practically unchanged from
last night. The attendance on the floor
was smaller than usual outside business
seem to grow lighter ever day ana even
the traders are restraining their opera
tions. Yesterday disposition was
noticeable to sell American Tobacco short.
The reason for this selling has made its
appearance this morning. The incorpora-
ton OF the Buchanan Lyalle Co. has been
concluded with n capitalization Of "a, 100,-
600. The room believes that this Com
pany has been formed for the purpose OF
competing with this Company, but a
news agency states that the Incorporation
has been made IN order 10 facilitate the
acquisition of the Company by the Cont.
lob. Co. insiders are apparently leav-
Ing the stock alone for the present; trad
ers are disposed to hammer it whenever
they have chance. There was some
little buying the anthracite coal stocks
on the belief that the recent advance in
the price of coal will soon be reflected In
increased earnings; the rest Of the mar
ket is practically stagnant fluctuations
are so insignificant that thessEpublic is
holding aloof.
During the afternoon transactions con-
tinued to be very light, but the under
tones Of strength became rather more
pronounced and towards the close o good
sized rally took place. The rally was
uartly due to the paucity OF offerings and
p--tly to the easier money market. Sat.
urdss's bank statement made many trad
ers iear Tat higher rates would prevail
during the p-ssent week. As matter
OF iacb tne money market has been rather
weak and the best inI~rmed bankers are
inclined to predict that the financial
situation will show conssaer able i'm
proyement during next two weeA4 IL ia
not impossible that 1t may resuss in
rather an Insignificant bank statement in-
asmuch as many Of the banks Will de-
posit gold and may have to wait "a hours
for the gold otfs. This will make 1t pos
sible that the banks would make weaker
return than the actual condition warrant
ed.
Considerable discussion took place
today about the incorporation of the Blu
ohanan ard Lyalle Tobacco Co.
ChicAgo-Wheat market ruled weak
today owing to the disappointing cables
from abroad and prices during the early
part of the session declined IL per bushel,
and Liverpool reported their mkt. ss "a
d. lower for the day. Continental mkts.
were also easier. Wealth er 10th in the
United Kingdom and on contingent WINS
reported fine. Receipts at Chicago and
the Northwest 316 cars against 40S last
week and 4AS last year. Clearances from
Atlantic seaboard 500, 900 bushels wheat
and -four, receipts at primary points GIL :
600 bushels against SaS 900 last week and
437, 600 last year. There was moderate de-
mand for cash wheat by local millers, bnt
export demand both here and ut the sea-
board continues quiet. Weather through-
out the spring wheat belt was generally
favorable. Country offerings are moder-
ate. Estimated receipts for tomorrow 81
cars. Trade has been rather light all day
and mostly all of a local professional
character. There was more or less buying
of December wheat at II for foreign 40
count. The absence of export demand
was the iiscouraging feature and until
this improves prices are likely to work q
little lower. Bradstreets' made 1876, 600
decrease in worlds visible supply OF
what.
NEW YORK, Aug. 8.