The Anaconda standard., 1899-08-01
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest of Exchange News-Mining Stocks.
Metal Quotations-Wool Prices and
Movements-Grain and Pro-
duce-Review OF Trade.

New York, July 31.-There were num-
ber of depressing influences brought to
bear on the stock market to-day and
prices opened lower. but later there was
a rally and the close was strong. Con-
spicuous among the depressing influences
was the reported outbreak of yellow fe-
yer at the Hampton, Va, soldiers home.
The group of railroads liable to suffer
from a yellow fever epidemic and the re-
sulting quarantines have been favorites
in the recent speculation, especially on
the part of London. setback to them,
therefore, was calculated to have far
reaching influence in the general list.
Louisville & Nashville did. in fact open
down IA points, and the Norfolk & West
tern 5; Southern Railway and the Chesa-
peake & Ohio railway were also depressed
and ruled below Saturdays level all day,
only fully recovering in the late dealings.
The exhibit of the associated banks in
the Saturdays statement also had some
uGfavorable influence on the others.
decrease of nearly 1900 tons in the east
bound shipments of freight from Chicago,
as compared with last week, had rather
halting effect on the railroads. The effect
OF these combined influences was to turn
the tide of speculation at first from the
railroads into the industrials
The stocks of iron and steel companies
were quite largely bought. but the ear
liest strength was confined to a few of
them, Federal Steel, Tennessee Coal Steel
and Wire and American Smelling being
the exceptions to the early strength.
Later the entire group was affected, gains
ranging from / to 3i2 points, the latter in
Pressed Steel Car. American Tin Plate,
American Hoop, American Car and Foun-
dry and American Smelling shared in the
advance. The tobacco stocks were strong
and Peoples Gas moved upward on the
declaration of the quarterly dividend.
There was early depression in Sugar on
report of additional competition in pros
pect and when this stock rallied strong
-24s points from the low points the last ev-
idence- of weakness was dissipated. The
strength and activity of railroad stocks
was much augmented in the late dealings,
very heavy blocks being absorbed. There
was continued buying of Southern Pacific
ana Central Pacific, which gained about
9 points each. Northern Pacific, Union
Pacific. Atchison preferred and St. Louis
& San Francisco first preferred rose from
/ to 3 points. The coalers were quite
strong throughout and Lackawanna was
conspicuous for an upward movement of
G1a points p, c., c., c. & st. l.. rose
points.
Sterling exchange was notably weak,
actual rates dropping a per cent. and the
posted rates u per cent. There was an
abundance of commercial bills in the mar
ket for future delivery against exports,
and the bankers sold short bills against
these. This and the continued bidding for
con mercial paper on behalf of outside
capital tended to relieve anxiety on the
money question.
There was considerable selling OF the
bonds of Southwestern railroads, which
lost something in price. Otherwise the
bond prices were unchanged or higher
Total sales, $24T4,000.
u. S. 2s and 3's coupon advanced Ac in
the bid price.