The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-07-28
THE MARKET ELSEWHERE.

New York, July 27.-The stock mar
ket continued during the greater part
of today narrow and professional, but
in the final hour of trading there were
more animation and strength than for
many days past The late movement
seemed to start with the Simultaneous
strength displayed by the Lake Erie
and Western stocks, Pittsburg, c. c.,
st. Louis and Pittsburg and Western
preferred. The stocks gained from
IN for Lake Erie and Western to
points for Pittsburg c.. C. and st.
Louis.
The marking up of Sugar an extreme
"a to 1853, and the rise in New York
Central to 140, helped on the movement
and the general market rose above last
nights level. Quite an active demand
sprung up also for the grangers.
which lifted Burlington over a point.
The activity of the market did not by
any means, however, become general,
and gains were not at all uniform.
There were successive developments of
strength during the day and the mar
ket offered firm resistance to the ear
ly efforts to deDress it. The traders
were bearish in the early part of the
day owing to the contiNIed obstinate
refusal Of the market to advance. But
finding 1t equally difficult to decline
the long side was encouraged by the
strength Of special stocks. The move
ment gained in Rock Island and South
western stocks showed some diminution
under profit taking sales Kansas and
Texas preferred retained the greatest
show OF strength and advanced over a
point. Sugar also showed an advance
Ing tendency from the first and Louis
Vile and Nashville which sold ex-
dividend of per cent, regained 13s of
that amount.
There was a midday advance in the
Tobacco stocks, which helped on the
upward movement, Continental Missou-
ri common rising IN the preferred 8
ana American Tobacco a point. The
mailing stocks recovered smartly from
yesterdays prices and Laclede Gas
jumped 319 points. The DEVELOPMENTS
In the money market begot increased
confidence.
Yesterday and today there have been
large loans made on the stock ex-
change from which 1t is argued that
operators feel the possibility Of a de-
mand for money that may stiffen call
rates and desire time loans on the Sc
curities which they are trying to hold
for long pull. The fact that the
Bank Of England did not increase its
discount rate today served to lessen
anxiety on the money question, and the
weekly exhibit Of that institution
showed that the open market had been
able to reduce it's loan obligations to
the bank very heavily.
The sharp fall in French rentes and
reports afterwards denied Of a political
crisis in that country were without
much effect in the local market. The
money market here was somewhat re-
lieved by the transfer OF funds
from the sub-treasury to the banks
on the payment for the new GUS
tom house site In New York, and 1t be-
came known that the government had
ceased fort the time being its weekly
Withdrawal of deposits from the New
York banks, which have been at the
rate Of 91,O00,000 a week for some time
past.
June statements of net earnings
completing the fiscal year for a num-
Der of railroads were favorable factors
| especially that of st. Paul showing an
increase Of $l,359, sos in the net for the
year. The bond market did not show
much response to the awakened
strength in the stock market and
fractional declines were the rule, Total
sales par value, 81, $4,000. y. S. new
As registered declined u and the old As
registered and the 5s registered " in
! the bid price.