The Portland daily press., 1899-08-05

Quotations Of Staple Products in the
Leading Markets.
New York stock, Money and Grain
Market Review.
(Stcck Letter OF price Mccormick g. Co.
ZIG Middle st.

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sis Middle STU
New York, August 4.-The opening
showed a falling of in animation. Lon
don prices were too close TO parity to
Kermit Of arbitrags transactions Of any
extent. Whilst outside interest In the
market seems 60 DO slackening two stocks
again furnished the principal interest," In
the market, namely L. @. I. s. Am. Tob
As to the former there is nothing more to
be said than has already tesn said, namely
that the short interest In the stock Is
quite extended and the company is sup
posed 10 DO doing we'll AS TO American
tobacco, all sorts of rumors are current,
but there is one undisputed fat and th at
is that the buyingis extremely good.
The Japanese stors Is again to the fore,
namely that the company has already got
n footing In that country and the con-
sumption of cigars amounts to ,0OD, 600 a
day and the Japs are only just beginning
to like them. There was not much enthu.
siasm about this grangeys. Efforts on the
part of certain reporters and newspapers
to kin the oorn crop still continue. this
hopper 8. The trouble is that all reliable
private adyices state that conditions con-
tinue excellent and that the officials OF
Baltimore Quincy and Atchison roads ars
thoroughly satisfied with the outlook.
Private advices also indicate that the crop
prospect along tie Northern Pacific road
are extremely good and that the damage
done to the spring wheat crop is not near
~ as large ms the bears hoped for. There
has been falling of In the speculation
in B. r.. 4. The endeavor to create APP
prehen sion by circulating story OF Mr..
Rossiter's resignation has fallen TO tho
ground owing to n COZ t.Rdictionin noun
certain words from himself. Surmises In
regard to the bank statement arc likely to
be unreliable. generally speaking the ex-
pectation Ii that the banks will lose little
IL any currency to the treasury and that
on the other hand there may he OF ex-
pansion in the loan item. Generally the
market Is steady but dull There has
the disappointment over the June state
ment which shows an increase In the
surplus of only &c. l0 while for the
ported from April LIST to June Both the
Increase is only $4,0.S The Pacific Mail
statement was also unsatisfactory show
ing the decrease in June of SAL ,93l and q
decrease since May list to June Both Of
$50, s54.
In the afternoon certain of the indus.
trials stocks, otably Consolidated Tobac-
co, the steel stocks, and Il. u. /. !. ad-
yanced ON the buying by inside interests
while at the same time the railway list
generally moved off, and was under SELL
ing pressure by traders. The fears of
lighter money and a poor showing by the
bank statement tomorrow were utilized
to assist In depressing prices. Sterling
exchange weakened further early in the
afternoon though rallying somewhat later.
Ita weakness of late gives forecast of
the relief that will ultimately come to
the local money market Gold imports
are likely to begin next month. Union
Pacific was one of the weakest fcatures in
the early afternoon, the selling of the
stock being accompanied by r1mors that
there bad been strike on the road,
news that the officers Of the company said
they have had no knowledge OF. There
we're also soSne reports of further troub 10
pending between the Northern Pacific
and Union Pacific over tho clear wnter
controversy. Manhattan made one Of its
characteristic siumps, but regained part
tive steadiness. Consolidated gas was
decidedly weak feature. declining SO veral
rcinss on ths failure of any
Developments looking to n settlement OF
the trade war. The granger shares were
generally heavy despite the improved
CnofaoooN VI tho STDp huftcos. ms grass
hoppers that were yesterday reported to
be eating up the drops would seem TO have
taken to woods.
THE CHICAGO wHEAT MARKET.
Chicago wheat after advancing 3-s cent
per bushel early ewing to more enooursg-
ing advioes from abroad and light Argne-
tine shipments later broke "a from high
point on selling by the bears. Liverpool
reported their market firm / I'D. higher
for the day owing to unsettled weather
In England. Continental markets gener-
ally slow. Argentine shipments as re-
ported to us were 100000 bushels. Re
cars against z33 last week and l57 last
ysar. Clearances from Atlantic saabcard
%70, eco wheat and flour. Recaipts primary
points GIL 600 bushels against 1850 last
week and AZ, COO last year. There was
demand for cash wheat by local millers
and decided Improvement in the demand
for export. In fact bids received today
we're very olese to working basis Sea-
board reported good business done for ex-
port, principally No. Q Red Wintsr wheat
for Lisbon. Weather in spring wheat belt
generally favorable and en- the continent
anu in Europe line. Visible supply Mon
day Is expected to show very little change,
possibly small decrease, trade has been
rather light all day and mostly all of q
local professional character. Local senti-
ment Is eearish, in fact We ere inclined
to think too much SO and On weak spots
would advise buying. Estimated receipts
ITO cars.
NEW YORK, Aug. A.
Money on call was steady sag PER ct; last
loan 3ia FER cent prime mercantile paper
at 4a4A per cent. Sterling Excnange easy,
With actual business IN bankers bills at 4 81
G4s6A for demand. 1 82as Z 4 1914 for six
ty days; posted rates s31sg4 s71k. CONNER
cial bills 4 STA "A s1Is.
Silver certificates co1s46l
Ear Silver COLA.
Mexican dollars AZ.
Government bonds strong.