The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-08-16
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest Of Exchange News-Mining Stocks.
Metal Quotations-Wool Prices and
Movements-Grain and Pro-
duce-Rsview OF Trade.

New York. Aug. 15.-The bear element
was in evidence to-day in the stock mar
ket and came off with flying colors. Ihey
made a vigorous attack in the NOR
and by O'Clock seemed to nave eA-
hausted their efforts. The average lever
of prices, including the majority OIL
standard stocks, rose in sympathy Win
the sensational advance of American To-
bacco. In the last half hour of the trad
ing the hears concentrated vigorous as
sault upon the Brooklyn Transit IheS
drew that stock down an extreme ofs
points to 1OSIa, and effectually broke the
market, successfully overriding all ell
forts to support values.
The industrial specialties suffered most
severely and the reaction in the ran
roads reached Il point in only a lew
cases. A few of the railroad stocks
which had shown early strength sue
ceeded in retaining net gains. In the ist
of industrals outside of the tobacco
stocks not a single stock of Importance
retained any net gain. American Steel
and Wire was under pressure early in
the day on account of disappointment
over a published statement purporting to
give the financial condition and the earn
ings of the company. But the stock mad
recovered all but rs of the early loss when
II was attacked dBdli ieii wa,
BROOKLYN Transit to the low point of
the day, 33s points below last night.
All the iron and steel stocks were al
fected in sympathy and Tennessee Coal
dropped an extreme 3la points and closed
at last nights price after having been "a
points above in the morning. People S
Gas also showed keen sympathy with
Brooklyn Transit and lost an extreme rs
points. Sugar was a sufferer and was
knocked down 31a points. Inere was
quick and violent rally in Sugar, REQ
pies Gas and Tennessee Coal on rush
to cover by the shorts. Brooklyn iran
sits net loss is AZ and Steel and wire
points.
The most conspicuous movement of Me
day was that of American Tobacco. The
stock reacted ia points before the late
raid on Brooklyn Transit, but moved up
strongly in the very face Of the bear RAID
to near the top figure.
The days tak.hgs of the stock were on
an enormous ccale and its net gain is
points. The Continental Tobacco stocks
were strongly in sympathy. Colorado
Midland is up nearly point. There was
a period of strength also for Kansas Il
Texas preferred and Southern and Cen
trail Pacific. but their gains were almost
wiped out in the late decline. The bold
ness of the bears was due to the conNlc-
ton that since the market refused to &c
up yesterday on the much-mproved con-
ditions of the local money market moth
ing else is in sight likely to give an up
ward impetus to prices.
A jump in the rate of discount OF y pei
cent and the hardening tendency OF Lon
don discounts had a depressing effect
The recent activity of various pools
which have taken on heavy lines of va
riouS stocks in spite of the general apa
thy of the market also made the marke
vulnerable to a determined attack. Cal
money worked easier in New York, bu
there is still belief that the money thus
placed will be needed soon in other chan
nels.
There was heavy realizing in Kansas
&, Texas seconds. Kansas City, Pittsbure
& Gulf frsts, after erratic variations
closed per cent. higher. Price changes
generally We're small and irregular. To
tai sales. par value, s2,S0i,00o.
Government bonds were unchanged