The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-08-21
FINANCE AND TRADE.
The Features. of the Money and Stock
Markets.

The Features. of the Money and Stock
Markets.
NEW YORK, August 1s.-The stock
market was strong and active again to-
day and after brief period of hesIta-
tlon and reaction after the publication
Of the bank statement new buying or
ders in a few conspicuous stocks lifted
them to the top level of the day. There
was some realizing at other points un-
der cover of this bidding up of prices.
and a few weak spots made the market
rather irregular at the close. Yester-
days vigorous upward movement at
tracted quite large volume Of buying
orders to the commission houses, and
the tone of the market was thus strong
from the opening. The weekly reports
Of the various trade and commercial
agencies and the Increased earnings OF
practically all the railroads reporting
helped on the upward movement.
The organized buying In Louisville
dence and Central Pacific was bid up.
Southern Pacific in spite OF large
dealings, was held back by profit TAX
ing and shows only modest net gain
on the day. Louisville rose nm ex-
treme 2h, and Tennessee Coal shows a
net gain of Sh. Taklngs Of st. Paul
were on very large scale and were
accompanied by tumors Of an intention
to declare an extra dividend on the
stock. other stocks notably strong
were Norfolk & Western and common
and preferred. the common gaining
IL. Pacific Coast common and second
preferred rose pa points each. Hook
Ing Valley preferred, Atchison prefer
red. American Cotton OIL National
Steel preferred. Steel & Wire preferred
and few other stocks show net gains
OF a point or over On the other hand
Sugar, Brooklyn Transit, the TobaccoS
and some OF the steel and iron stocks
were under some pressure and losses
are shown here and there In the rail-
road list in stocks which were only
lightly dealt in.
The bank statement was rather pug
cling in that the deposit liabilities we're
not Increased by as much as the cash
and loan Increase. But the smallness
of the changes left little ground for an
Ixety. After n momentary hesitation
traders decided to take the optimistic
view OF the stnteraent Southern Pacific
collateral Is, where Issued we're taken
In large amounts at n gain OF per
cent. Speculative sentiment has been
in n good deal of n hurly-burly oil
week An inspection OF the price list
disciOses some very wide movements OF
prices In contrary directions. Indus
trial stocks as rule are lower. the eX-
ceptIons being the tobacco stocks. Some
very striking gains are shown in indi-
vlduaI railroad stocks. but the changes
in the majority OF these stocks were
surprisingly small until to-day, cOnsid-
erinE the nctivity OF the market and the
furious speculative contest which has
been waged from time TO time.
a marked sentimental effect was pro-
dnced early in the week by published
announcement from a stock operator
noted for his boldncss and many sue
cesscs that he persisted In his belief
that prices were too high and certain to
20 lower. This announcement induced
n considerable following among the
board room traders who have conHu-
tuted the greater part OF the market
for some time past, and the buoyhney
OF q few stocks on Monday following
the favorable bank statement OF Satur-
day did not awaken any general de-
mand for securities.
There was n wntchful anticipation or
bear raid which came on Tuesday
with fierce onslaught upon Brooklyn
Transit and American Steel & Wire.
on Wednesday the battle was contln-
ued and shifted to Sugar. Tennessee
Coal and the Tobacco stocks, when
signs Of realizing RnleS after the large
gain in these stocks made them Vulner.
able. only slight effect was produced
on the standard rnllrond stocks ana
Individual stocks In that department
continued to show striking gains quite
number Of obscure stocks were