The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-08-23
CONFLICT IN NDUsTRIALs.
Opposing Interests on Change Keep
Things Lively During the Day.

New York Aug. PA fierce conflict in
Industrials ragged all day to-day between
opposing speculative interests on the stock
exchange. Brooklyn Transit was the
storm center as for many days past This
stock showed evidence of support at the
opening of the stock market and got at
one time over a point above last nights
closing level In facs of this support and
of the rally of International Paper the
bears turned their attention to Sugar,
which dropped almost Immediately 2ia per
cent. on account of the cut Of price in re-
fined sugar by the company and the meet
ing of it by competing concerns.
Steel and Wire lost ? points on the fail
ure of the listing committee to admit the
stock to the listed department of the ex-
change.
Later in the day Manhattan and Con-
solidate Gas were admitted TO the objec-
tive points of the bears. Much had been
hoped by the friends of Brooklyn Rapid
Transit from the publication of a statement
of the company's finances and estimates
of earning power under the recent consoli-
dalton. The statement when published
proved so obscure that a deluge of stock
for both accounts poured in carrying the
price down to 4 above par an extreme
drop of nearly 8 points. Only the most
determined support checked the decline at
that point. The stock was lifted again to
1929 and closed at 1925 The demoraliza-
ton in Brooklyn Transit was shared in
lesser degree by Sugar, which dropped an
extreme "a; Manhattan, which lost at one
time nearly four points, and Steel and
Wire common and preferred, Federal Steel
Peoples Gas and Metropolitan Street
Railway, which declined from ! to 2 points
The extreme weakness Of the speciaites
was ignored for time in the railroad list,
where there were early advances in Denver
and Rio Grande Norfolk and Western,
the Reading stocks, Baltimore aud Ohio,
and Wheeling and Lake Erie second pre-
ferred, the latter rising over points
The continued and violent decline in
Brooklyn Transit caused sympathetic de-
preston throughout the market earlier
gains being mostly wiped out and num-
Der of standard railroad stocks including
the Changers. dropping point or over be-
low last nights prices.
The rate for call money rose 10 4 per
cent iate in the day probably not with
out manipulation. but quickly yielded to
3 per cent, near which it had ruled all
day.
The final rally in Brooklyn Transit af-
forded relief to the whole market ana
losses were partly retrieved, the most ac-
tive specialties recovering from l to 2
points.
There was nOtaDle ADVANCE ldlG IN lle
day in the Norfolk and Western stocks.
after the common had reacted at a point
with the general HIST. These stocks show
net gains of 29s for the common and ~
for the preferred. London sold about 90
900 shares on balance in this market.
The bond market was active, but changes
wer small and Irregular. Total sales, war
value s2.67S 0C0. United States bonds were
unchanged on bid quotations
The total sales Of stocks to-day were $685.
400 shares. including Atchison. 10. $50; Bal
timore and Ohio, 5000; Central Pacific.
$3.50; Burlington $3.50; Rock Island. 1850;
Louisville and Nashville, 1890 Mania tan,
26 SIS: Northern Pacific 1850; Missouri
Pacific. $780, Pennsylvania 600; Reading
first preferred $500; Reading second pre-
ferred. $500. 81. Paul, $3.50; Union Pacific.
Is 2iu; Union Pacific preferred $50.
southern Pacific, s0GJj; American Steel and
Wire. $3.50; American Tobacco. l2,a71;
Brooklyn Rapid Transit, l5sf5; Con inen-
tai Tobacco 1910, Federal steel 1910. IN
ternationai Paper $685. Peoples Gas 90i5;
sugar. 84-Ji Tennessee Coal, 1896 UnI,c1
states Leather, 6.5iG
New York stock Lit
Atchison ........ 22's SO. Pacific 600. 1885
Atchison pref D.. 81 So, Railway .... l2's.
b. & Ohio .,.,. 5fl4 So. Ry pref 90. 81
Can Pacific 90. ~ Tex. Pacific &h
Can. Southern 53ia Union Pacific .. 4lla
Cent Pacific ... 53il D. Fac. pfei D.. it4.
G.. a. ONO ...... 25ii Wabash .........
CHI @. ". .... 1872 Wabash PREF 23i
chi. p a. Q. ..i36i, w. e J.. u. ... lOs
chi. T. q l.. 90. 9i, ". a. l.. T.. %
Chs H. e L.prefId pref ...,....-,.. -l4
i-ft. ffl ggf. via Central fGI..