The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-07-25
THE MARKETS.
Wall Street Review.

New York, July 2-There was little
change in the stock market today,
business continuing at the same low
ebb as during last week, which was
the smallest weeks business of the
year A break in the consolidated gas
of 2% and n decline of over a point
in sugar turned prices downwards in
the morning, but the bears were not
disposed to be aggressive. Late in the
day an active demand developed for
New York Central which lifted that
stock ia from the early low point The
whole market hardened in sympathy,
Pennsylvania being conspicuously af-
fected The early fractional losses
were thus wiped out and final prices
were a shade above those of Saturday
as a rule. There were a few wide
movements in the prices of individual
stocks. Manhattan, Federal Steel
American Linseed Oil preferred and
lead were heavy at one time and
general electric fell off a fraction but
later rose over 3 points. closing at
1878 Pittsburg c. C. & st. Louis, st.
Louis southwestern preferred, the
Iowa Central stocks, the pressed steel
car stocks and a few others made some
display of strength. Total sales Ill.,
800.
Bonds were dull and narrow today
and changes in the prices were mixed.
Total sales par value S1,650O 900.
L. 5. as reg. advanced 4 and the Ss
coupon 1s in the bid price.
BY Darlington & Cusack.
New York, July 24--The market
opened fractionally lower in sympathy
with London and during the whole day
tranactions were small and had the ap-
pearanCe of midsummer market.
The local traction stocks were the
exceptions at the opening showing
strength, but as the day wore on,
Brooklyn Rapid Transit showed the
effects of attacks and sold down to
1l4h and closing only 3s above the low
price.
There has been buying in n. Y. G.
which has attracted attention and
causing it to close at the highest point
of the day, the advance was caused
by the report that the earnings for
July had increased very largely. We
have repeatedly advocated the pur-
chase of the Vanderbilt stocks and in
our letter of June 25, we were en-
phatically bullish on their stocks,
which have shown pronounced ad-
vances since.
The N. Y. c. closing today, seven
points above the price of that day. We
also urged the purchase of Pennsyl-
Vania railroad at that time which
stock closed six points above that
days close and is destined to go much
higher
We would now earnestly advocate
the purchase of Federal Steel common
stock as we believe this stock will be
another sugar or tobacco stock. The
amount of earnings of this company's
for the first few months of the year
were materially diminished by the low
priced contracts which they have been
very glad to place on their books in the
dull periods Of last year, but while the
situation has now changed and this
company is realizing enormous profits
on all its contracts and as they own
iron mines, railroad and lake transpor-
tation company and their factories for
making the finished product they will
realize every advantage of the large
advance in iron, and while they are
certainly capitalized for a large amount
their earning power will be so great
that the common stock of this company
should show phenomenal advance
within the next six or eight months.
Quotations furnished by CARRINGTON