The Portland daily press., 1899-08-19
FINAACllLAND COMMERCIAL
Quotations Of Staple Products in tie
Leading Markets.
new York stock, Money ard Grain
Market Review.


(krom Price, Mccormick 81 Co., ZIG Md
die stFeet.)
New York, August Is.-For the last
few weeks speculation has been held here
and in London in check by fears OF light
gradually diasirateu. The failure Of the
Bank OF England to advance Its discount
rate today, the downward tendency Of
money rates both In London and here,
and tie probability that shipments from
New York to the interior at harvest time
win be smaller than usual have snuour-
aged the public to come to the market at
once with the result that commission
houses are buster than they have proba-
bly, been for two or three months. The
Changers today were as whole strong;
the speculation in them was more active
than for some time. In fact one OF the
encouraging features OF this market is the
tendency of speculation towards this rail-
road stocks instead OF the industrials.
Towards noon the market was cold of
somewhat, owing to attacks by profee-
sional operators who thought that
slaskening off of commission house buy
ing gave a good opportunity for turn
on the short side. The declines that en-
sued however. were not important and
after the lunch hour prices again took an
upward turn. The heaviest features In
the market were sugar and Brooklyn
rapid transit. American tobacco was
irregular but towards the close fell OF
over two points on comparatively light
transactions. Reading securities were
bid up by Wormser. The same house was
active in bringing about the upward
movement in Metropolitan. Il. @. j.
was strong almost all day. Curiously
enough the recent move upwards, has, II
the loan market can be taken as a reliable
index, resulted In no material decrease in
the shorts. There was renewed selling
during the last half hour Ia the expeota-
tion that the bank statement would show
an advance in loans and a decrease in
.urplus reserve. The increase In loans
Is expected because of tho greater activity
in speculation. The decrease In ressrv es
is expected because known transactions
between the banks the sub-trsasury and
out-of-town banks shows a net loss in
cash to the banks of S716.3s
However, guessing on the bank state
ment is an Improbable business. For
instance, no ona for momnt supposed
that the Fret National bank last week
would gain something like S., Oo0. 600 in
cash AID it is stin puzzling to show how
the gain was made. In the outside mar
ket the feature was New York Trans
portation which held upsto 25 Ia The
rest of the market was practically without
feature. There was some inquiry for
National Tube, Electric Axle, Light and
Power.
GRAIN.
Chicago, Ills, August Is.-After
opening IA lower, owing TO lower cables
from abroad, later because firm and ad-
vaReed rs from low point, owing to the
very good demand and wet weather in
the northwest. Liverpool reported her
market quiet. Continental markets we've
generally steady, receipts at Chicago and
N. W. s63 cars against as last week.
Clearanoes fromsAtlantio seaboard 794, 600
bushels wheat and -four. Receipts at
primary points $4,000 bushels against
595, COO last year. Argentine shipments
were reported at 1850 bushels. st.
Paul supply Monday expected to show
a fairly large decrease and worlds ship.
ments In all probability will be light
again. Trade has been large all day.
Local bears sold heavily early, but later
in the day we're forced to cover.
Country offerings continue light. Esti-
matsd receipts for tomorrow so cars. Wei
sse nothing in the situation to change
our opinion and believe wheat ought to
be bought on all set-bacfs as later on
higher prices will rule.