The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-08-05
MARKET is DULL.
Coppers, Led By Ar
cadian, Showing
Strength.
TOBACCO is STRONG.
Boston Pays Little At
tention to Specu-
lation.
TOBACCO is STRONG.

Wall street speculation continued
dull again yesterday, with the excep-
tion of tobacco stocks, both Continent
tai and American showing marked
strength and some activity, despite the
heaviness of the general list.
The advance in Tobacco shares was on
the improved prospects of the COM
panies. The Continental is expected to
begin the payment of dividends on its
preferred shares at the rate of Z per
cent this fall, and the American com
panY's dividends are expected to be
raised to 5 per cent, on account of the
increased income of the American
Company through its large holdings Of
the preferred stock in the Continental
Company. Tennessee Coal and Iron
continued firm, crossing So The influ-
ence from foreign stock markets was
on the side of a depression. Early
changes in most cases We're small frac-
tions, and divided between gains and
losses. The room traders tested the
market and short sales lowered prices
somewhat, although scarcely any I'M
preston was made on railway shares
by this maneuvre. and the profession
ais quickly adopted the other tack.
American Tobacco and Continental To-
bacco preferred We're marked up 1-2
and 4 respectively Pittsburg g. Gulf
stock and bonds were heavily absorbed,
the latter rising three points. The re-
action in Union Pacific and Manhattan
reached l 1-2. Omaha advanced and
Chicago, Great Western preferred / IL.
The general market continued dull. but
held steady, in sympathy with these
special movements.
Apprehension regarding a firmer
money market still operates to deter
traders from taking a renewed inter
est in speculation on the long side of
the market. Notwithstanding the COM
paratiye dulness of the stock market.
the clearing house exchanges every
week are showing large increases over
previous years. This cannot be ex-
planned otherwise than as the result of
commercial activity. The best feature
of the monetary situation is the weak
ness in the foreign exchange market.
This. together with the easy position
of money in the west and the heavy
gold receipts production, is encOurag-
ing The president of a large local bank
is quoted as saying: Money is COM
Portable, because bank officials are get
ting conservative, and endeavoring to
strengthen their position. We have
never Deen through tlSnC money SIT
uation with the volume of business SC
large as it is now. With our high de-
posits we are naturally more conserv-
alive, for we cannot figure as to the
proportion they are likely to be re-
duced. For this reason the disposition
is to put out money on call rather than
on time"
In the local stock market there was
little trading of a general nature, al
though insiders bid up Arcadian and
United States copper shares. Arcadian
practically furnished the bulk of the
dealings although the arbitra-
eeurs were more animated today than
for some time past. Arcadian advanced
3-4, to rs ga reacting to IA 1-2. and ]
per cent was bid to call it at IS for
ten days. United States mining rose
from % 7-S to "a IL, holding the adj
vance. Montana regained yesterday s
five points loss and sold at 1856 and 800
Utah slid off 1-2, to "A, while Arnold
gained ga, to IS. Humboldt sold at
2 1-2 and ga: Mohawk at rs 1-2; Napa
at "a; Parrott at 50 IL So and So ga
and Wolverine at AZ. Fitchburg pre-
ferred at 120 was up 1 IL, while Bos-
ton and Albany was unchanged at 260
The following quotations were made
on the Boston exchange yesterday on
stocks held in Worcester and vicinity:
(Reported by Kinnicutt & Dewitt,
bankers).
BOSTON STOCKS.
(Reported by Kinnicutt & DeWitt.)
TELEPHONE STOCKS