The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-08-29
THE MARKETS.
Wall Street Review.

New York, Aug. 2S.--There was q
marked falling off in interest In rail-
road stocks today compared with that
prevailing last week. Interest shifted
into the industrial specialtes and a
number of these marked UP In fever
ish and irregular manner. The general
list was maintained with difficulty and
a slight furry in call money In the last
hour carried prices, with few excep-
tions, below last nights level. In the
final hardening movement on covering
by shorts some of the specialties and
a few obscure railroad stocks rose
anew to the top level This made the
closing of the market firm in tone, but
the majority of standard stocks show
net losses. An influential factor in the
hesitating and doubtful tone of specu-
lation was the renewed anxiety over
the money market outlook, caused by
Saturdays bank statement. Call money
was quite stiffly held at per cent. all
day and was marked above that in the
last hour. possibly not without manipu-
lation. But the fact remains that the
present low stage of surplus reserves
of the New York clearing houses banks
keeps the financial world keenly OBJ
servant and in a somewhat uneasy
frame of mind. Profession of conf
dence that the west is amply provided
with funds to finance the coming crop
movement without calling on New
York do not altogether avail in fact of
the condition of the local banks.
Neither does the suggestion that the
local trust companies have large avail
able funds which do not figure in clear
ing house banking reserves, although
both of these explanations have un-
doubted force. The buying for London
account which has served to sustain
some stocks recently was missed. There
was upward movements of Importance
today in the Tobacco stocks, Manhat-
tan, Metropolitan, Street Railway.
Sugar and some of the Iron and Steel
stocks, the latter under the influence
of declaration of the first dividend
on the Republic Steel preferred of 1a
per cent. called quarterly. American
Express jumped 10 points over Satur-
| days price. On the other hand there
was weakness in International Paper,
Colorado Fuel, Brooklyn Transit, Ten
nessee Coal and a few other special
| ties. In the railway list the only stocks
| to show any marked demand were
| Southern Railway preferred and Kan
sas and Texas preferred. The Chicago
! Great Western issues showed wide
! changes, but were rather feverish at
the advance There were besides note
worthy gains in Mobile and Ohio,
Hooking Valley preferred Omaha,
! Northwestern, New York, Chicago and
! st. Louis second preferred, Evansville
and Terre Haute preferred, Wisconsin
Central preferred, Minneapolis, st. Paul
and Sault Ste Marie and Iowa Central
preferred. There were notable gains in
a group of high priced stocks, includ
| ing LackaWanna, st. Paul preferred
Northwest preferred, Wells-Fargo and
Pullman. New Haven and Omaha pre-
ferred were bid up without sales, the
latter 10 points. Kansas and Texas sec
onds are 3& higher on the day Other
wise there was no notable feature in
the bond market. Total sales par value
81, ,i20, 900.
United States new As advanced "a in
the bid price Total sales of shares
467, 900.
Quotations furnished by CARRINGTON
& CUSACK, stock and bond brokers
rooms 4lO and i'll Connell building, Scrar
| ton. Pa.