The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-07-29
STRONG sTocK MARKET.
Advances In Europe Followed by
Higher Prices in America.

Higher Prices in America.
New York. July 2S.-To-day's stock mar
ket was strong early and traders gener-
ally ranged themselves on the long side.
The shorts took alarm from yesterdays
rise and the continued upward tendency
this morning and covered rather extensive
lines. London marked up prices before
the opening here and bought a consider
able amount in this market. The senti-
mental effect of this buying was even
more pronounced than the direct demand
for stocks.
The recovery in French rentes in Paris
also had a stimulating effect and part of
London's buying of Americans was re-
ported 10 be for continental account TAX
en- all in all there was sufficient demand
for stocks to run the forenoon business
up to within 20OO shares of yesterdays
total transaction and considerably over
the total for some days of this week.
Business fell off, however, very notably
in the afternoon. The public showed it
self still coy about coming forward, and
bull operators in consequence proceeded
to take their profits on the advance. The
stocks which advanced yesterday and the
day before were especially affected, and
in number of cases were carried below
last nights level. The St Louis South
western. Kansas and Texas preferred,
Lake Erie and Western and the trunk
lines were examples. There was neverthe-
less an appreciate increase IN commits
sion house business. This was conspicu-
Gus in the grangers Burlington leading
on account of the benefit to the crops
from rain. The coalers were notably
strong on the approaching operation Of
a higher scale of prices, and Lacka wanna,
which In addition, enjoyed the benefit
of a reported combination with New
York, Chicago and 81. Louis, rose an ex-
treme four points. Louisville was the
leader of the market considered as 10
both strength and activity. II closed at
the top price al a net gain of 23s over
Yesterday Since the dividend of per
cent. was taken off yesterday morning.
the stock has risen AZ points. There was
an active demand for Sugar all day, and
the price went to 1913. National Steel
was strong in the reported requirement
of new property and Brooklyn Transit
rose an extreme IA. There was a be-
lated upward movement in some of the
Southwestern stocks not heretofore af-
fected. Denver and Rio Grande preferred,
Southern Pacific, ST. Louis and San Fran
cisco second preferred, and the St Jo-
seph and Grand Island stocks gained
from l to points.
The late realizing movement carried
prices down from the best, and the mar
ket closed dun and easy. Tomorrow
bank statement is expected to show an
other loss in cash owirA 10 operations
with the sub-treasury. though there has
been a net gain on the interior movement.
Sterling exchange was weak and lower on
account Of London buying stocks here
and on an increased supply of CONNER
cial bills.
Bonds did not respond fully to the
strength in stocks, but prices are gener-
ally higher. Total sales par value. SIPS
900. United States IS registered. advanced
Is IN the bid price.
The total sales Of stocks were 463. 200
shares, including Atchison preferred 49,
550 Rock Island, l3.470; Burlington. 25. rs;
Central Pacific. 5a5; Delaware, Lacka-
wanna and Western, 800; Lake Erie and
Western. 5000; Louisville ard Nashville.
n.959; Manhattan. $40; Missouri Pacific,