The Portland daily press., 1899-08-16
FINANCIAL and COMMERCIAL
Quotations Of Staple Products in the
Leading Markets.
New York stock, Money and Grain
Market Review.
(Erom Price, Mccormick s. Co, GIG Mid
die street,

(brom Price, Mccormick q Co, Sl6 Mo
die street.)
New York, August Is -Cbicago; wheat
The market ruled weak today and prices
during the early part OF the session de
olined Is below last nights closing
owing to disappointing cables from
abroad. Liverpool reported their marke
as opening quiet and unchanged, bul
closing half lower. Continental markets
were generally quiet. Weather in Greai
Britain was reported showery but on con
tinent fine-reoeipts Chicago and the
northwest 303 cars against 3t6 cars las
week nd $50 oars last year. Clesrancei
from Atlantic seaboard 800, 600 bushels
wheat and -four. Receipts at primary
points 5l2, 600 bushels against Gil. 900 las
week and 654, 600 last year. There was {
moderate demand for cash wheat by locai
millers and a fair inquiry for export
Seaboards report moderate demand there
Weather throughout wheat belt generally
favorable. Bradstreet's made decrease IN
worlds visible supply 1859, 900. Trade
has been free all day and a coed dea
Of long wheat held by weak holders hai
been sold out. We see nothing Ia sltua
tion to change our opinion and look fol
much higher prices. Although market
win get setbaoks from time to time, 1t IL
on tho weak spots we advise buying. EstI.
mated receipts tomorrow so cars.
New York. August 15.--Although the
situation in France daily becomes more
unsettled. neither the American market
in London In affected to any considerable
extent, nor does the public or the traders
in our market believe that political con-
fusion in that country will have any ma
terial influence upon the prices Of Aneri
can securities. Consequently. although
there was no disposition to Gull Ameri-
cans In London there appears to be no
pressure and the London prices cabled to
us just before ten O'clock showed few
changes from the prices at the close Of
yesterday. There Is In the London mar
ket undoubtedly, an underlying feeling
of nervousness partly owing to the pol3ti-
cal situation in France. partly owing to
the strained relations between Great
Britain and the Transvaal and partly
owing to the upward tendency Of dis
count rates and the possibility of an ad-
vance in the Bank of England rate on
Thursday next.
The feeling abroad finds expression here
Oniy VII bHo Qbitu5hh WntCn CudtdCterlzes
international stocks. In the specialties,
that Is to say, industrials ard IN certain
railroad stocks which are not usually
active, considerable manipulation was
noticeable Immediately after the gavel
fell.
A. S. W. after opening fairly firm
declined sharply ON liquidation or dsrs
and on attacks by the traders The room
is inclined to take a favorable view of the
statement made by the company. The
earnings are smaller than expected and
the report as O whole being not as deli
mite as might be desired. In American
tobacco buying WAS good at the opening
and CONTINUED good all day. In fact 1t
was the only stock on the list which
started strong and kept strong during the
day. B. X. I. showed evidences OF
liquidation ard at times during the first
two hours was weak on the uncovering
of stop orders and during the last two
hours the weakness became more pro-
nounced, some Of the leading bear opera-
tors on the floor sold It aggressiveIy and
there was a decided lack of support. The
feature that attracted attention in yester-
days market namely the lack of interest
in the standard stocks was also apparent
today. In fact, during the last two or
three days although the market has had
an appearance of strength activity .has
been confined almost entirely to the
industrials and has been more or less of
an unstable character and due mainly Co
clever manipulation. During the last two
hours some Of the leading bear operators
who have recently returned from their
holidays MAIDS q condert.d attack upon
the whole list and more especially upon
sugar and Brooklyn rapid transit. The
somewhat hollow character Of tho market
was expressed by the success OF this at
tack almost the entire list yielding with
comparative ease. The close was at a
moderate rally from the lowest of the day
but was decidedly lower than IL was
yesterday.