Daily press. [volume] (Newport News, Va.) 1896-current, 1899-09-22
STOCKS RECOVER STRENGTH.
Tone of The Market Firmer Than for Som
DAYS Past.
tBy Telegranl,.)

NEW YORK. Sept. 21.-The tone Of
trading in stocks was much better &c. lay
;han for some days past. There Wa;
very general ard substantial recovery IN
prices. There was a large demand
from the extensive outstanding short
interest ana probably this constituted
a PRINCIPAL element in the recovery. but
there was also Il Very good absurp-
tion OF some Of the railroad stocks
which mad the appearance of coming
IRON large interests who We're sati III Il
70 take on stocks at the present / -.
En- oklyn Transit continued to conip.is,
a large proportion of the dealings ana
the cessation "f pressure against il AMI
other members OF its group had an i'm
rnrtant influence in the recovery N
rrlcss. y revised in;e, probation Of \yw
lorks new franchise tax bill which
would bear less heavily on corporations
ifan has been estimated found general
acceptance among spectators
ltINlOS SEEMS WE'LL FOUNDED.
Inc enormous selling for some time
past OF Brooklyn Transit gave Color ii
some current rumors that the control
II the property has changed to new a.d
strong hands. Those TWO intlucn ..s
vas effective in relieving the lu:al
traation stocks from the fierce attacks
I" which they have been subjected ~.
MANY days Fast and removed from .ac
southern the most potent element CO
mcnt OF depression.
IN the railroad list aggressive buNins
llrSt developed in southern Pacific put
an excellent demand spread to o.hc,,
pants in the list notably the Changers
, whlch we're " | TO - on the dav.
mere We're notable movements in Pull
man, which rose from rs and Ana on
ia. which jumped i IL points in The
iate dealings on the extra dividend dec
lara.tlon The Chicago indianapolis
ana Louisville stocks gained . 10 and
fiS Il I,
Western stocks showed rather sensa-
tlonal declines but closed above yasr.4r-
days level except for the dcbenturaS
which are eff points
London sold stocks this morning ow-
ing TO the anxiety concerning to,nor-
he bears in the early part Of the lay.
y SALUTAFY EFFECT.
y favorable effect was exercised Ey
the reported purchase in London Of
s2oo,eoo Of gold in the open market Tor
shlpmeEt 70 New York. No trace could
Shipment ard foreign exchange houses
maintained that gold could not ye, be
| Imported ut a profit.
Sterling exchange dropped a fraction
nearer the cold import point but is
| S,ll! over one cent above that level
ne can loan rate in New York Jlror;-
Iea late in tire day after the days de-
maHd for money had been practically
all met, but The condition Of the 10 al
money market was not materially
| changed. \ drop in New York N
chanse IN Chicago indicated renewed
pressure from that source for funds.
saturdays bank statement is now ex-
l'ected to show the New York banks
IN a somewhat stronger position, owin..
| e inc weeks large contraction OF Loans
~. mere mas been no known replenish-
'nent O! cash resources, and the futnr.
or the money market depends on the
! prospective needs Of the interior ana
me prospective demand from the Sub
treasury FOR revenue PAYMENTS
Inc Total sales Sof stocks today We're
| l0I 100 shares