The Worcester spy., 1899-07-29
MARKET is ACTIVE.
Speculation Busy and
Prices Generally
Higher.
MONETARY SITUATION EASY.
Bull Pool Said to Be Ad-
vancing Sugar
Notes.
MONETARY SITUATION EASY.


causes more or less apprehension tow
ards the close of the summer season, as
large amounts of cash usually are
withdrawn from eastern monetary
centres for the movement 6 the crops.
In recent years this westward move
ment of funds has not been of so great
moment, because the Withdrawals have
not been particularly heavy, owing to
the fact that western banks have been
aSretty well supplied with funds and
have been able to look after the wants
of their section very well. 1t is the
opinion of prominent bankers that no
stringency is likely to occur in the
money markets for some time at least.
1t is probable that tsub-treasury's trans
actions with the New York banks for
the current week will break about
even, although there may be a slight
gain upon the part of the treasury in
specie. From the dulness of the market
it would seem as If there had been
some liquidation in loans Certainly not
an increase) and a consequent falling
off in bank deposits, indicating an in
crease in the bank reserve. Next Mon
day and Tuesday the government pays
the interest on bonded debt (3s As IS
and 1865 per cent bonds), about $5. 0O0.-
900. This is sure to be reflected in next
weeks bank statement, and with the
receipts of gold from the Pacific coast
new gold from the Klondike, Alaska
and Australia) which should work its
way east, no tight money is in sight.
Opening prices of railroad stocks
were higher yesterday with very few
exceptions. Louisville rose IL in sym
pathy with an early rise in London.
Stocks which were depressed in London
overcame most of the loss at the open
ing in New York. The activity was for
the most part in the railroads, although
Sugar and Tobacco came in for a large
share of attention. Trading during the
first hour was livelier than for many
weeks, and there was buoyant tone in
many stocks. Reports that the higher
scale OF prices would soon become
operative started a brisk demand for
the coalers, Lackawanna rising 31k and
the others over point each. The buy-
ing movement spread to the grangers
and active industrials, Burlington.
Sugar, Brooklyn Transit and Continen-
tai Tobacco improving materially. La
clede Gas and Lake Erie & Western pre-
1erred continued their recent upward
movement, and Hooking Valley rose
two points. A new bull pool is said to
have been formed to advance Sugar.
Three brokers have bought 25, 900 shares
within the past three days, and the
price has risen from 1861 to 1619s. To-
bacco exhibited marked strength and
rose from 90 to 1005s.
Business in the local board was a
little mora animated at the opening, out
relapsed into dullness again before the
noon hour. New York arbitrage houses
were large buyers of Sugar shares.
Home shares were quite firm as a rule,
but no especial feature developed. Tri-
Mountain gained " to IL and Fitchburg
was up X at 118 for small lot. Boston
& Albany sold at 266 and 265, Calumet
at 800, Bell Telephone at $50 and Domin-
ion Coal at 5112. Flint & Pere Marquette
shares have been removed from the list
because most of the stock has been de-
posted for exchange under the consoli-
dation plan with the Detroit, Lansing
& Northern and the Chicago & West
Michigan roads. On the curb consider
able activity was noted in Bay State
Gas, over 5000 shares changing hands
around 80 cents.
The following quotations were made
on the New York exchange yesterday
on stocks held in Worcester and yicin-
ity: