The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-08-22
THE MARKETS.
Wall Street Review,

New York, Aug. 21.-There was a
battle royal between the bulls and the
bears on the Stock Exchange today.
The bulls had somewhat the advant-
age of positlon,as they were entrenched
behind large and well distributed de-
mand for stocks of all varieties. Com
mission house business was on a very
large scale and the movement Of prices
in the majority Of the list was varied
throughout the day. one or two stocks
showed conspicuous strength, but the
tendency to advance in the railroad
list was surprisingly uniform But
there were spots in the Industrial list
which proved exceedingly vulnerable
and the firm and persistent determin-
alton with which the bears raided these
resulted in wiping out the majority of
gains which had been achieved in the
railroads and reducing practically all
that remained to fractional limits.
Brooklyn Transit suffered the severest
attack from the bears all day long. 1t
was offered down through successive
| stages, each drop bringing out a de
luge of long stock and dislodging copi-
| Gus stop loss orders The success of
the bears with this stock encouraged
them to extend their attack to other
members of the so-called Flower group.
| They forced down international Paper
an extreme s points and Federal Steel
| suffered to the extent of 35s. Peoples
Gas lost over two points and Rock
Island a point. The extent of the de-
cline implied hasty covering and there
were rallies Of 1 to about 8 points in
| the group. Manhattan. Metropolitan
! Street railway and Third avenue
showed wide declines in sympathy.
ranging from 31s to AZ in the case of
the first two named. Sugar was also
| vulnerable after an early gain of a
! point and dropped nearly two points.
| Steel and Wire showed marked
! dropping tendency and other iron and
steel stocks were also heavy. The in
fuence Of this weakness on the rail-
road list was accentuated by a late
marking up of call loans to 31k per
cent. after having ruled at and below
3 per cent. during the early part of the
day. The fact remains that a large
| portion of the days business in the
railroads was done at prices above Sat
urday's level. There was an enormaus
absorption of stock from the opening
in spite of the rather heavy tone re-
flected from foreign stock markets by
the disorders in Paris, and the spread
of bubonic plague. Tennessee Coal rose
buoyantly 4A points to par in the first
few minutes of trading. 1t went back
during the day to 81, but closed at 99
| Louisville continued in active demand
and sold up to S37s. A number of low
priced stocks. notably Denver and Rio
Grande and Norfolk and Western. were
in good demand and the large organ
| lied buying of Southern Pacific was
continued. This stock was held back
by realizing and did not at any time
rise more than q small fraction over
Saturday. Stocks in Colorado We're uni
fOrmly strong on the improved Condi-
tions in the mining industry of that
state. AtChison preferred, the Grang-
ers, the Coalers, Baltimore and Ohio
stocks and Union Pacific We're in large
demand. Very little remains of the
early gains in these stocks. which
reached point or over in number of
cases. American Tobacco ends with a
gain of nearly 2 points. There were A
number of other more obscure stocks
which showed strength during the day.
Total sales. 100000.
The bond market showed increased
activity in sympathy with stocks.
There was conspicuous gains in South
ern Pacific As Colorado Midland As
and Atchison As. Total sales par value,
si,12S.OO0. United States SIS advanced
IS in the bid price.
Quotations furnished by CARRINGTON
& CUSACK. stock and bond brokers'
rooms 40 and Ill Connell building, Scran-