Daily press. [volume] (Newport News, Va.) 1896-current, 1899-09-27
REPORTS
MARKET
NEW YORK STOCK MARKET.

NEW YORK. Sept. 2G.--rrhe stock
market continued dull and list'es,s in
character today. Several favorable in
cidents impaired an umdert"ns OF
strength and discouraged operations for
i decline. but the soaring tendency Of
the money rate discouraged all spccula
tive demand on the Ions; side ana the
day closed with nearl: all stocks show
ing losses. The incident which attract
ed most attention was the engagement
in London of 81 600 in gold for New
York. Prices rose to the highest On
this announcement and Il number of
stocks reached 4 level above Yesterday :
close,
UP TO 20 PER CENT.
Money however. rose upward by
quick stages to 20 per cent. ana tho
hcaviness or the stock market Was re-
newed. The gold engagements in r:lrc
Of the firmness of exchange is obvi-
Ously based on the expectation THAI the
money rate Will continue high until the
receipt of the gold here. when the profit
OF the loaning rate may make good the
loss involved in the simple importation.
The course of the local money market
today contr;tdicts the assertions mad.
yesterday that the higher rate was due
&c manipulation. The present and
prospective condition " the money
market is undeniably tight. Rates adj
Nanced not only here but AT other
domestic points both east and West.
New York exchange ut nth"" points
showed continued pressure on this cen
ter. The announcement that more yolt!
is on this way from Australia ana san
francisco had no effect, the promised
relief being 50 remote. The fact Of a
three day holiday approaching had its
influence also on the prevailing 'lul!-
ress. the weakness OF foreign stock
markets was an influence indirectly
and SO far as it was Il deterrent to geld
imports.
CHEERING STATEMENTS.
The series of railroad Statements
which appeared today was :, real ana
effective prop to the market and un-
doubtelly induced some good buying
from substantial interests such as are
not dependent on borrowed money. The
overnights statement of the st. Paul
for the third week in September. SHOW
ing an increase over last year unrls-
cendented. Of So 600, led the list Even
more striking was that Of the LAtrhisnl
system for August showing an increas.
OF income from operations Of sos, Sa; 4
result in 4 large part due to the heavy
decreases in operating expenses. in
the cases of Erie and Southern Railway,
III spite of liberal increases in oprrll-
ing expenses. there WAS an increase, IL,
net earnings for the former Of $22i SO,
and for The latter of $lS031J. Business,
on all the trunk lines was repeated on
an unprecedented scale. These fact;
gave the undcrtonc of tirmness to lhe
market. the stocks especially affahtcl
being those whose reports We're publish
Cd.
The days net declines rca ched IL point
in only 4 few cases. "A number of the
industrial specialtics We're at one time
to points below last night but COW
ering by the shorts worked {: partial
rally. Brooklyn Transit continued very
active. though American Tobacco vx-
cecded it and it was Well sustained af-
ter an early decline, rising a point
over yesterday ana closing With 1t net
gain.
The total sales Of stocks today were
4C6,400 shares. The leading stocks clos
ed as follows: