The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-07-01

New York, June 30.-Bradstreet's finan-
cial review tomorrow will say: Although
the transactions at the stock exchange
were not large this weeks market has
been far from dull. Nor, while the spec
ulation has been to a very large extent
professional and manipuative in origin,
has 1t lacked decided features of strength.
renewed public buying and the large pur-
chases of American stocks in London and
foreign takings in our own market have
been a notable feature. The latter, in
deed, were sufficiently large to cause a
drop in exchange rates, and for a time to
create belief that the gold export move
ment was at an end. This idea was not
substantiated, as the inducements still
offered by the bank of England and Paris
and Berlin markets resulted in gold ship
ments this week to the amount of $780,
OOO raising the total since the movement
began early in June to $4,000. co.,
The only result of the unavoidable dis
turbance of loans incident to the matter
was temporary advance in call loan
rates on Thursday and Friday to per
cent for balances on the stock exchange
The street, in fact, was apparently i'm
pressed by the prospect of continued ease
in money and by the accompanying out
look for an extremely large demand for
inccme-yielding securities, growing out
of the desire to reinvest a part of the
July interest payments 1t is recognized
that the actual demand from this source
has been, to a certain extent anticipated
Speculative interests, however, seemed to
consider it something to discount and the
activity of manipulative operators on the
bull side may be traced not only to the
fact that a considerable short account
had grown up which could be forced to
cover, but with a disposition to take ad-
vantage of the prospective increase in the
pubic's participation in the market.
The fact that much better accounts of
the progress and results of the crops are
now heard was naturally calculated to di-
minish the bearsh feeling which the street
had developed in the past month. This,
however was much less effective as a
speculative factor than the prospect of
important deals involving the Vanderbilt
railroad properties. Rumors that some
thing of this kind would come out had
been heard for several weeks past, and
ii was thought that the passing of the
semi-annual dividend by the Lake Shore
and other companies would involve agree
able surprises. But neither the semi-an-
nual statements nor the dividends of the
Vanderbilt companies bore out such an
ticipations and speculation was about to
fall back on the old story of a probable
amalgama ton of the Union Pacific with
the Vanderbilt system. At this juncture
came the statement that propositions for
the acquisition of the Boston & Albany
by the New York Central had been for
mulated and practically agreed on. The
absence of explicit denials seemed sienifi-
cant, and giving, as it did, support to their
circulation of renewed rumors OF in
creased dividends by the Omaha and
further important deals under Vanderbilt
auspices, stimulated buying movement
in that group of stocks which caused adj
vances in New York Central and its COM
panions.
London purchases contributed effectively
to this movement, the action of the for
eign market being the more significant
because of the Transvaal complications.
the sensitive conditions of the Berlin and
London money markets and other circum-
stances resulting in heavy and dull spec
ulative conditions abroad apart from the
American department.