The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-08-25
DEMAND FOR SECURITIES.
Expended Itself Early and Brought
Downward Tendency.

New York, Aug 24.-The demand for Sc
curites mostly expended itself in the early
trading to-day and the weight of realiz-
ing sales became more burdensome, and
at the last, made the general tendency
downwards, although the marking up of
a few stocks at the close to top prices
made ii Irregular. Northern Pacific and
the Union Pacific stocks rose to top prices
in the final dealings. There were quite a
number II rather obscure stocks, which
held good gains throughout, but the earlier
rise in many cases was almost wiped out
The market started off well under the in
fluence of the cheerful tone of foreign
markets An early drive against Ten
nessee Coal, which carried ii down / points
caused a mOmentary halt, especially in
the specialties. Yesterdays strong up
ward movement in Tobacco was resumed
carrying that stock TO 1912 and causing
sympathetic gains of between l TO 2 points
in other leading specialties.
There was a large demand for Union
Pacific, Northern Pacific and Baltimore
and Ohio. which lifted these stocks about
! point each. There was good buying
Of St. Paul which advanced that stock
an extreme q, but the other prominent
Changers did not respond. When it be
came known. after noon, that the diree-
tors of the Continental Tobacco Company
had failed TO declare a dividend, as many
spectators had hoped they would do,
there was a drop in the Tobacco stock,
which reached pa in American Tobacco.
Sugar Brooklyn Transit and Manhattan
responded in sympathy and a number Of
railroads lost a point. The market drift
ed rather uncertainty for the rest of the
day except for some strength in indi-
vidual stocks. The reduction of the div
idend rate in Consolidated Gas, although
it was fully expected, had bad effect on
the market. The stock itself vibTated
feverishly over 3 points and closed al
fractional loss. There was quite a nota-
bic display of strength by a group of the
minor Granger roads. including Chicago
and Eastern Illinois, st. Paul and Duluth,
Duluth South Shore and Atlantic pre-
ferred, Minneapolis and St. Louis the
Wisconsin Central stock, che Iowa Cen
trail preferred and Des Moines and Fort
Dodge Gains in this group ranged from
] TO AZ points, the latter St. Paul in Du-
luth Other isolated points of strength
were Ontario and Western Chesapeake
and Ohio, Cleveland Cincinnati, Chicago
and St Louis, Cleveland, Lorraine and
Wheeling preferred, the Reading stocks.
the Colorado Midland stocks and Detroit
Gas.
Realizing was in evidence all day in
some OF the Southern and South western
stocks. which had shown recent strength,
and this combined with renewed weak
ness in the specialties. made the clos ug
rather heavy except in the cases named.
Money market conditions abroad acted
for the cheerful sentiment from that
quarter and the London buying Of stocks
here had Its effect in the fractional de
cline in sterling exchange. 50, also had
The stiffness of the local money market,
which ruled firm at about per cent
The bond market was quite active and
a number Of speculative issues showed adj
vances Total sales, par value SO .226 900.
United States old As registered, declined
q and the IS 4 in the BID price.
The total sales of stocks to-day were
5000 shares, including Atchison, $50;
Baltimore and Ohio. sos; Chesapeake and
Ono. IS 1850; Rock Island and Pacific 49,
SIS: Denver and Rio Grande preferred. g.
900; Iowa Central, 66i9; Louisville and
Nashville. 500; Manhattan, GOO; Missouri
Pacific. 5000; Norfolk and Western. 15
425 Missouri. Kansas and Texas preferred.
S go. Northern Pacific. Is l8); Ontario and
Western Z9259 Reading FIRST preferred,
$3.50: ST. Paul. 1920, Southern Pacific,
Is 900; Southern Railway. $3.50. Texas and
Pacific 1866, In on Pacific 1850. Union
Pacific preferred. 1850, Wisconsin Central
6 200. American Tobacco 73fZj; Brooklyn
Rapid TrGns.t. 1920. Continental Tobac-
co 1850. Confidential Tobacco preferred,
$3.50: Sugar. 1880; Tennessee Goa, 1870;
United states Leather 5000
New York Stock IIaf