Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-06-29
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange Bonds, Grain,
Cotton, Provisions, Etc.

New York, June 2S.-An effort was
made to re9eat the demonstration of
strength in the stock market, which
was given by the outburst OF activity
and strength, which carried prices TO
the highest in the closing dealings yes
terday, but with only partial success.
Manhattan was rushed W. to final
quotation of 1879, which was 81 above
last nights price, as New York Cen
trail was rushed uD late yesterday.
The sympathetic effect ON the general
list was far below that of the New York
Central movement. Decidedly the most
significant feature of the days trad
ing was the cessation of the upward
movement in New York Central and
affiliated stocks. There was an active
opening in the stock, caused by the ac-
emulation of commission house orders,
which were attracted by the recent
strong upward movement of the stock.
1t was advanced early in the day al
most a nont. The demand was evil
IDENTIFY satisfied for the time being, and
the movement lacked snap. The price
was allowed to lag. There were various
factors of strength in the days devel-
opments. which prevented Il break in
the price of railroad stocks, but there
was obvious profit taking ut some
points, and the days net advances are
small except In Il few cases. The rally
at the close did not bring prices back
10 the top level. The most potent in
fiuence in favor Of the bulls was the
favorable disposition manifested to-
ward American securities in the Lon
don market. This was in face of q
tendency TO dulness and depression in
the general market there. The takngs
for London account in this market were
estimated at $4,000 shares or upwards
or various stocks. The demand was
most eager for Louisville and Nash
vile. which rose nearly . points OH the
London demand. Various rumors were
in circulation of an approaching in
crease in the dividend rate to account
for the rise.
Southern Railway preferred was
strong in sympathy. The effect of the
London buying was shown in drop
In the actual rate for demand sterling
to 4.SIha. thus precluding the likelihood
OF further gold exports at the present
time. The local money market also re-
manned steady, in spite of the activity
OF the speculation in the stock mar
ket. Statements OF railroad earnings.
which were received during the day.
continued the extraordinarily favorable
showing.
me cash demand for wheat and the
buying for export We're sustaining fac
tors In the Granger group. even though
Inc decline in the heavy Northwest re-
ceipts was reported to have set in. In
view OF these continued strong features
in the situation an effort was made to
shift the speculative activity into the
lower grade of railroad stocks. when
IL was seen that New York Central had
become quiescent and profits were be-
ing taken elsewhere.
Southern and Western railroad stocks
We're the favorites. Finally the indus
trial stocks, which had been entirely
neglected. were taken in hand for n rise
under the encouragement of the
strength manifested by Sugar and
american Tobacco. They proved rather
heavy TO lift and dropped off in the last
hour, Continental Tobacco and Federal
steel being especially weak The firm
ness at the close was on short covering
induced by the final squirt in Manhat.
tan.
railroad bonds We're moderately ac-
S2.745, 900. ''N''
United States ss. coupon, declined
.ae. IN me pld price. The total sales of
stocks were SOP, 100 shares.
STANDARD Oil closed at 4.65@467.