Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-07-06
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Honey, Exchange. Bonds, Grain,
Cotton, Provisions, Etc.


stocks continued notably strong to-day
and much more active than the up
ward movement of last week. The &C
tivity was very widely distributed, eX-
tending pretty generally throughout
the list and. during the course OF the
day. extending even to some of the
"cats and dogs" on the list. The gen.
eral strength of the market was main
tair ed in face of a realizing movement
in the stocks that were most conspicu-
Gus in .ost weeks rise. notably Penn
sylvania, New York Central and the
Vanderbilt group generally. including
Northwestern, Omaha and the Union
Pacific stocks.
There WAS no very heavy pressure of
liquidation in these stocks, but there
WIS no effort TO hold up their prices,
and a number Of them show losses OF
a point or over. There was realizing
movement in the Changers also. but the
vigorous strength of st. Paul sustained
this group and brought new buying
through commission houses. ST. Paura
extraordinary gain In earnings for the
fourth week in June, of about $500, 900
over the corresponding week of last
year, was the main motive for this
buying. though the general outlook In
the wheat market induced u general
covering of shorts. The line Of shorts
put out In the Changers on the early
understood to have been very large
and no small part OF the present
strength of the Changers is attributed
to the covering of these shorts. Atchi-
son preferred was very markedly af-
fected In the same way and rose to
CO.'S. Rock Island Jagged in the move
ment on the disappointing May state
ment.
Other railroad stocks showing con-
spcuous strength were Illinois Central,
Southern Railway. Northern Pacific
and Erie first preferred. The strength
OF these was on buying for London ac-
count. Mexican Central was in large
demand and late in the day the Coal
ers rose from to 1%
Bears who had sold Brooklyn Transit
In expectation of a Fourth of July
strike were eager buyers to cover short
contracts and advanced the stock at
one time nearly points. The rise in
sugar extended to nearly points
Other specialties which rose strongly
were the Tobacco stocks, Steel and
Wire. Tennessee Coal Peoples Gas. In
ternational Paper and Anaconda. There
was some hesitation early in the trad
ing on account of the failure of tho
money market to ease Off as it wac
expected to do, until the July disburse-
ments on interests and dividends, but
later in the day call money fell to .
recent gold exports have been directly
due to borrowing for the purpose of
easing the German money market.
which was In urgent need of it to carry
over the half yearly period. The Lon
don Statist estimates that the term
upon which money has been borrowed
In New York for Berlin account have
been equivalent to rate OF 6@6h per
cent. for small portion of the money
that market required to tide over the
pressure. Money is now expected to
flow back to Berlin on account of re-
cent speculative liquidation. and the
critical period there is believed to be
over. Discounts in foreign markets
were generally easier to-day
Thre was u large demand for the
Erie general mortgage bonds and the
st. Louis Southwestern seconds The
ERIE bonds gained IL and the st. Louis
southwestern 2 points on the day.
There was n good business elsewhere
and prices advanced n fraction. Total
sales, par value. S3.390,00O
U. S. old As registered advanced II in
the bid price.
The total sales of stocks were 6a7. 700
shares.
New York. July 5.-standard OIL.
4,59@4.6l