The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-08-30
THE MARKETS.
Wall Street Review.

New York, Aug. 29.-Prices in many
prominent railroad stocks show losses
of 81 per share and upwards as "a re-
suit of the days trading There was
disposition in the early hours of the
day to contest the decline and the ef
fort was assisted by several strong
features in the list. But the persistent
heaviness of railroad stocks and the
manifest exhaustion of the buying de-
mand discouraged the bulls and turned
the scale in favor Of the bears. Stocks
in which manipulation by pools has
been recently evident showed a con-
spicuous lack of support.
Conspicuous in this class were Louis
Vile and Nashville, Northern Pacific,
Atchison Preferred, Baltimore and
Ohio and Norfolk and Western. Sew
eral of the minor stocks which have
been under recent manipulation also
suffered severely. Some opposition to
the early heaviness resulted from the
active demand for the republic steel
stocks on the strength of yesterdays
declaration of a dividend on the pre-
ferred stock and sersi-official intima-
tiOns of very large earnings available
for the common. The common ad-
Vanced at one time 2iR and the pre-
ferred per cent. Steel and Wire was
also marked up on predictions that the
listing committee of the stock eX-
change were disposed to admit it to the
listed department These two factors
impaired firmness as to the iron and
steel group with the exception of Ten
ncssae Coal and Colorado Fuel. In
the railroad list the Chicago Great
Western stocks showed continued
strength the preferred rising I points.
There was good demand for Kansas
and Texas preferred and gains were
shown by Wheeling and Lake Erie and
Hooking Valley. In the local traction
stocks Brooklyn Transit was lifted
quite aggressively and Metropolitan
Street railway and Manhattan showed
sympathy. There cRne AZ covering
movement in Tobacco after a sharp
fall and Sugar showed strength from
the same cause. But these elements
of strength were quite insufficient TO
induce a renewal of buying in the gem
cral list on any large scale, and prices
continued to drift away under drib-
bling offerings. The declaration of
per cent. semi-annual dividend on
Union Pacific preferred stiffened that
the downward movement but when the
bears perceived the continued heavl-
pcsr they attacked the market in the
late dealings, making the closing ac
| tive and weak at about the lowest. The
! few earlier gains were mostly wiped
| cut, those remaining being largely re-
! ducod. The weakness on foreign stock
| markets on account Of the acutenesS
| Of the Transvaal crisis was another
| influential factor In the days weakness.
! London sales here We're estimated at
| 10000 shares, covering the entire list
! of international stocks. The fall of
! fraction in the actual rates for ster-
! ling exchange in face of this liquida-
| tion from London caused renewed un-
! easiress over the local money situa
| tion of which it was a reflection. Rates
| for time money We're appreciably firm
! er and no call loans were made below
| per cent. Total sales. 594 900,
The bond market was rather quiet
| and rrce changes We're irregular. To-
| tales sales par value, s1,S4O,OOO.
United States government bonds were
unchanged on bid quotations.