The Portland daily press., 1899-08-31
FINANCIAL and COMMERCIAL
Quotations Of Staple Products in tile
Leading Markets.
New York stock, Money and Grain
Market Review.



New York, August So.-At the opening
in London this morning American rail-
ways showed gains extending to IS over
our closing. Conso1s were also advanced
1-16d., the result Of feeling that the
Transvaal situation had undergone con-
siderable improvsment.an the probablli-
ties were that there would be no war.
Foreign houses were fairly large buy 5
ers in our opening market, especially of
Southern Railway and Northern Pacific
Outside of the London buying there was
some covering of shorts and the smaller
traders were inclined towards the long
side. owing to the sudden change of front
by London.
Commission house business was very
light at the opening and continued light
all day. For the last two or thres days
1t has been generally reported thar the
Flower people meant to make 1t unpleas-
ant for the bears In B. e. Il Undoubt-
eddy large blocks of b. X. 4. have gone
into Flower s. Co.'s office, and today
there were further Indications that the
campaign against the shorts had not
yet besn concluded. During the afternoon
the campaign became quite vigorous and
was said to be based upon some utter
ances by Mr.. Arson Flower in which he
Is reported to have said that the stock is
worth 40. OF course, MIR. Flower In
making this statement must have some
Information which was not included in
the recent report of the company. Ger
tainly stock which may possibly pay q
Ia per cent year hence, Is not worth
140 today.
The heavinsss In International Paper
continued. 1t is generally believed now
that there will be no dividend ON the
common stock, when the directors meet
on September 18th.
Outside the ADVANCED b. II. L. some
good buying Of American Tobacco the
sudden display of strength on the part OF
Sou thern Pacific and an upward move
ment in Consolidated Gas, the afternoon
session was remarkably uninteresting.
A rather feeble attempt was made to
depress prices because over-anxious bor-
rowers of small lots OF money paid four
per cent. Probably the majority of loans
were made at IL per cent, today. al
though some loans were made as low as
three per cent. These are the features in
the situation which are worth watching:
One Is, the money marked and the other
is the course of British consols, far more
reliable indication OF the probable out
come of the Transvaal difficulties than
the sensational reports which are cabled
to this country.
AS to the money market, 1t is already
showing an upward tendency, and some
OF the most prominent bankers are in
clined to believe that within compare
lively short time we shall see call money
lending at four to five per cent If not six
per cent.
Chicago, August .-Wheat-There
was very light trade in wheat today, land
the market ruled dull and heavy with
prices during the early part OF the session
one half slower than yesterday, hut later
advanced on covering OF shorts with some
talk of export business done, which was
not given out, liberal clearances and less
pressure from long wheat.
Continental markets were slightly cas-
Ter. Weather in England was repor ted
showery, but on the continent fine.
Receipts at Chicago and the northwest
were 472 against sS5 oars last year. Clear
ances from Atlantic seaboard 100, 000
bushels wheat and flour. Receipts at
primary points So, bushels against
l,142,0 t0 last year. There was a fairly
good casa demand by local millers but
export demand 10th here and at the sea.
board was not large. Estimated receipts
at Chicago for tomorrow It's cars.
NEW YORK, Aug. so.
Money on call was firm 3@A per cent; last
loan at per cent; prime mercantile paper
at 4l4 a5 pr cent. Sterling Exchange easier
with actual business in bankers bills S6ai
a4s6A for demand, s31s "a S314 for six
ty days; posted rates at 81 "a sta. CONNER
cial bills S3A.
Silver certificates 1854 geo
Bar silver 90 1-15
mexican dollars Ala
Government ponds steady.