The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-08-30
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-Review OF Trade.

New York, Aug. 29.-Prices in many
prominent railroad stocks show losses of
81 Der share and upwards as a result of
the days trading. There was a disposition
in the early hours of the day to test the
decline and the effort was ASSISTED by sew
eral strong features in the list. But the
persistent heaviness of the railroad stocks
and the manifest exhaustion of the buying
demand discouraged the bulls and turned
the ecale IN favor of the bears. Stocks in
which manipulation by pools has been re-
Gently evident showed a conspicuous lack
Of support Conspicuous in this class w:.s
Louisville & Nashville, Northern ,cific.
Atchson pl referred. B. & o. and Western
Union. Several of the minor stocks, which
have been under recent manipulation, also
suffered severely. Some opposition to the
early heaviness resulted from the active
demand for the Republic Steel stocks on
the strength of yesterdays declaration of
dividend on the preferred stock and
semi-ofticial report Of very large earnings
available for the common. The common
advanced at one time 6i3 and the pre-
ferred per cent. Steel & Wire was also
marked up on predictions that the listing
committee of the stock exchange was dis
pOSeu TO ADMIT TO the IlSteQ
mcnt. These two factors impaired firm
ness to the iron and steel group. with
the exception of Tennessee Coal & Iron.
In the railroad list the Great Western
stocks showed great strength. the pre-
ferred ''B'' rising 2 points. There was de-
mand for Kansas & Texas preferred and
gains showed by Wheeling & Lake Erie
and Hooking Valley. In the local trac-
ton stocks Brooklyn Transit was lifted
quite aggressively and Metropolitan Street
railway and Manhattan showed sympa-
thy.
There came a covering movement in
Tobacco after a sharp fall and Sugar
showed strength from the same cause.
But these elements of strength were quite
insufficient to induce renewal of buying
in the general list on any large scale, and
prices continued to drift away under drib-
bling offerings. The declaration of
per cent. semi~annual dividend on Union
Pacific preferred stiffened that stock and
caused a momentary check to the down.
ward movement. but when the bears per-
ceived the continued heaviness they at
tackled the market in the late dealings,
making the closing active and weIL 1T
about the lowest. Few earlier gains were
mostly wiped out, those remaining being
largely reduced. The weakness on for
eign stock markets on account of the
acuteness of the Transvaal crisis was an
influential factor in the days weakness.
London's sales here were estimated at
$4,000 shares, covering the entire list of
International stocks. The fall of a frac-
ton in the actual rates for sterling ex-
change In the face of this liquidation from
London caused renewed uneasness over
the local money situation. of which it
was a reflection. Rates for time money
were appreciably firmer and no call loans
were below per cent.
The bond market was rather quiet and
price changes were irregular. Total sales,
par value, s1,4s0 900. u s. government
bonds were unchanged on bid prices.