The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-07-06

Its Position Maintained in the Face
of Realizing Movement.

Its Position Maintained in the Face
of "a Realizing Movement.
New York, July 5.-The market for
stocks continued notably strong to-day.
and much more active than the upward
movement of last week. The activity was
very widely distributed, extending 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 general strength of the market was
maintained in face of a realizing move
ment in the stocks that We're most con-
spicuous in last weeks rise, notably Penn
sylvania, New York Central and the Van
derbilt group generally, including North
western, Omaha and the Union Pacific
stocks.
There was no very heavy pressure of
liquidation in these stocks, but there was
no effort to hold up their prices, and
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 COM
mission houses. St. Paurs extraordinary
gain in earnings for the fourth week In
June of about $500 600 over the correspond
ing week of last year was the main mo-
tive for this buying, though the general
outlook in the wheat market induced
general covering of shorts. The line of
shorts put out in the Changers on the
early belief in the ruin of the wheat crop
is understood to have been very large,
and no small part of the present strength
of the grangers is attributed to the COW
ering of these shorts. Atchison preferred
was very markedly affected in the same
way and rose to sos. Rock Island Jagged
in the movement on the disappointing May
statement.
Other railroad stocks showing conspicu-
Gus strength were Illinois Central, South
ern Railway preferred, Northern Pacific
and Erie first preferred. The strength of
these was on buying for London account
Mexican Central was in large demand
and late in the day the Coalers rose from
1 to IA.
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 a one time near
ly 4 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, International Paper and Anaconda
There was some hesitation early in the
trading on account of the failure of the
money market to ease off as it was eX-
pected TO do, until the july disbursements
on interests and dividends but later IN
the day call money fell to 2 per cent. 1t
is now admitted that the recent gold ex-
ports 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 London Statist estimates that the
terms upon which money has been Dor
rowed in New York for Berlin account
have been equivalent to rate of 6nG15
fpt, t,ft III
that market required to tide over the
pressure. Money is now expected to flow
back to Berlin on account of recent spec
ulative liquidation, and the critical period
there is believed to be over. Discounts In
foreign markets were generally easier to-
day.
There was a large demand for the Erie
general mortgage bonds and the st. Louis
Southwestern seconds. The Erie bonds
gained ~ and the ST. Louis Southwestern
points on the day.
There was a gC6d business elsewhere.
and prices advanced a fraction. Total
sales par value, 1880 600.
United States old AS, registered, adj
vanced Il in the bid price.
The total sales of stocks were 637 700
shares, including Atchison preferred. 81
955; Burlington, 1880; Chesapeake and
Ohio, 5000; Louisville and Nashville. 91S5;
Manhattan. 10,4S0; Mexican Central. 500;
Reading first preferred. 14,020; Missouri
Pacific, 1810; New York Central, 9.O75;
Ontario and Western, $500; Rock Island.
20 495; Union Pacific %, 1856; St Paul. 81. 1915:
Southern Railway preferred 1860: Union
Pacific preferred, 1875; American Steel
and Wire. q AIS; American Tobacco. 6.575:
Peoples Gas, 1880; Brooklyn Rapid Tran
sit, 977S3; Continental Tobacco. 1512O:
Sugar, S. $50; Tennessee Coal and Iron, r.
$50