The Anaconda standard., 1899-01-29
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest of Exchange News-Mining Stocks
Metal Quotations--Wool Prices and
Movements-Grain and Pro-
duce-Review of Trade.

was quite irregular to-day. The open-
in the London market. because. in part
of the absence of disauieting Philippine
advices, which apparently had been ex-
pected by the traders, who started cover
ing short contracts.
| Presently there was a renewed attack
| bic bank statement. but when the bank
| statement appeared it upset all calcula-
| tons by being very favorable. This was
the signal for the re-purchase of stock
sold earlier, which gave strong tone to
| the closing. There We're some recessions
! i'll the railways, however. on the evening
| up of contracts for the week Sugar and
| Glucose gained over a point each. but it
| seemed to be the impression of traders
| that Sugar was advanced in the interest
OF sellers, while in other quarters the sim
| ultaneous advance of Glucose and Sugar
| was surmised to point to favorable trade
| developments.
Among the Pacific there was an advance
| of more than point in Northern and
| Southern. The movement in Northern
| Pacific was attributed to more confident
| gossip regarding its dividend standing.
| Pacific Mail was strong on the more ia
vcrable outlook for the mail subsidy bill
| in congress. Minneapolis G. St. Louis at
ore time displayed strength on the possi-
blity of the first preferred stock being
retired.
The prospective advance in coal rates
at Western points was reflected in some
strength in Reading. Among the low
| priced shares St. Louis & Southwestern
preferred rose 4 points and st. Louis &
San Francisco 2RG3
c.. c.. c. & ST. L.. American Express
and Southern Railway were also strong.
Among the industrias American Steel
preferred and American Malt were weak.
Canada Southern and c., c.. G. g. st. l..
preferred also showed some declines.
This was Vanderbilt week in the stock
market. The dealings We're more than
1880, 600 shares. with tiuctua tions showing
great irregularity but with an upward
| tendency. There were many reported
deals associated with the Vanderbilt
name, and the stocks afterWard moved
| lively, acting as if the various rumors
were believed or dscredited. The un-
ruff1ed condition of the money market in
face of the unprecedented volume of
transactions in stocks and bonds was
assuring and in a sense confirmed the
| public conception of the narvelously fa
vorabe conditions prevailing in indus
| trial agricultural and financial circles in
| America.
Excellent railway returns came to hand
| from various sections of the country.
SiXty-one railways increased about 9A
per cent in gross earnings for the third
week in January.
Among the December statements of net
| earnings. ST. Paul showed an increase of
| more than one third of million of dol
| lars. while Burlington increased $4,000.
The bank statement was far more favor
| able than anticipa ted, showing more than
seven and a half millions increase in sur
| plus reserve. The enormous bank clear
| ings and exchanges attracted considera
BILE attention Allowing for speculative
account. the enormous dealings reflected
great absorption of money in high-grade
securities. Another evidence that the pub
| lie had taken firm hold of tAe market
was the unprecedented distribution of the
dealings and the infrequency of individ
ual stocks appearing in comparatively alb
normal proportions of the transactions.
The varying phases of the Philippine
problem had not much weight in specula-
tive sentiment.
Monday was by all odds the most SEN
satonal day, both in the tremendous vol
tme of business and in the extreme vio-
lence of fluctuations that the street has
witnessed at any time, the conflict of buy
ing and selling orders at the opening had
the appearance of such rampant specula-
ton that the marke, leaders We're dis
posed to check the movement in order
that the technical position of the market
might not be weakened. x&f
There were large sales of stock carried
over from Saturday IN expectation of the
advance and considerable liquidation,
both of foreign and domestic holdings,
resulting in material declines for the day
from the early high prices. Among the
II, ti<,,- hot Iny
rise of 1885 points in P. c.. G. & ST. L.,
a drop of Is and a net gain of AS. Canada
Southern rose lp1a points, lost most of it
and gained 3ia. c., c.. c. & st. l.. jumped
81 points dropped points. and closed
within a point of the best. There We're
many other wild changes after the initial
bulge of to-day. Subsequently the market
irregularly advanced with almost daily
bear attacks in the afternoon and recov-
cries on each succeeding morning.
London was generally a seller, but was
early whipped into line as a purchaser
and the fortnightly settlement in London
showed a great reduction in the floating
supply of Americans. Throughout the
week the facilities of the exchange were
taxed to the utmost and the clerical
forces in the brokerage offices worked
overtime to keep track of their large ac
counts.
The largest net advances for the week
were: Metropolitan, 1884, Capitol City
Traction, IL Twin City Rapid Transit. 13;
p, c.. c. & ST L. preferred, 1ol2; Tennes-
see Coal and Iron preferred IA; common
IL; Long Island, u; c.. F., c. & st. L..
9la, Commercial Gable, 81 General Elec-
trio, S$a Rio Grande, Sl9 St. Louis South
ern preferred, 81 Lake Erie Il Western
preferred els: Lake Shdre. s; Peoples
Gas SIS American Express, 5l2; Chicago
Great Western debentuFes. Reading lst
preferred and BaltimoreI& Ohio, Az each:
Rubber, 5s4 Toledo & Ohio Central, D.
There were gains, too, of more than 3 |
points in Sugar. Lackfwanna. Northern
Pacific. Ontario & Western, Minneapolis |
e. ST. Louis. and Wheeling & Lake Erie
preferred. The losses Of note were con- |
fined to less active socks, the largest |
being New York Airbrake. 51s; Edison IL |
Illuminating and La Cede Gas, 8 points |
each.
Pronounced strength characterized the |
bond trading. the market showing less |
feverishness than in stocks. Many issues |
uare bro1Ieht DrOn1inaf,tIy forNa ard nr,i,,,,