The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-08-26
THE MARKETS.
Wall Street Review.

NtN ioIh' aug 'Go'-l Htlt was "
marked decline in activity in the stock
market today, total sales falling to
less than half million shares. Very
little evidence was left of the recent
upward tendency of securities. The
spots of strength were few and far
between and were, for the most part,
in obscure and usually inactive stocks
| which moved under the influence of
| special causes. Depression from for
| eign stock markets reflected here and
| increasing anxiety over tomorrow's
bank statement were the impellling
causes for the heaviness. Financial
| centers in Europe obviously labor un-
der renewed uneasness over the situ-
alton in the Transvaal. There was
in addition the prospect of a holiday
tomorrow on the London exchange to
discourage new commitments there.
The recent buying in New York from
that source were discontinued entirely
and sales for London account were suf-
ficient to exercise a notably depress-
ing influence. There was an opening
squirt in American Tobacco which car
ried 1t up liz per cent, but this was
almost Immediately lost. The special
| ties were weak for the rest of the
| day sugar being under severe pres
| sure at times. Its extreme decline of
| 3h and its net loss only ABOUT point
| less. Brooklyn Transit and Manhat-
| tan succumbed to the prevailing weak
ness. Tennessee Coal did better, but
| saved only fraction of a rise of over
a point. Occasional strength cropped
| out here and there, under the infiu-
| ence of which the market made some
| effort to advance, but without success
| There was a notable buying movement
| in Union Pacific preferred, based on
| suggestions of a coming increase in
| the dividend, which carried the price
| about so. Consolidated Gas, follow
| ing yesterdays dividend reduction and
a semi-ofiicial intimation that even the
| reduced dividend was not earned,
| climbed up an extreme 9& on the ur-
| gent demand from the short interest.
| Brooklyn Union Gas gained Ga. There
| was continued strength in group of
| minor grangers, st. Paul and Duluth
| leading, with a rise of points. Wis
| consin Central Duluth, South Shore
| and Atlantic preferred, Minneapolis, st.
! Paul and Sault Ste Marie preferred
| Des Moines and Fort Dodge and Keo-
| kuk and Des Moines preferred were
| included in this group, gains running
| from a fraction to two points. Rio
| Grande and Western, Cleveland, Lor-
| raine and Wheeling preferred and Chi
| Cago, Great Western preferred A We're
other points of strength; Kansas and
Texas preferred was the only one of
| the Southwesterns to maintain the ear
| ly show Of strength. Liquidation was
not urgent in the general list, the mar
ket falling into intense dullness with
| the declining tendency. The known
| movements of money for the week in
dicate a loss in cash to the banks of
nearly $3,50OOOO, $2,927 900 of which
| went to the sub-treasury. None Of
the gold which went recently to Mon
| treal has been returned and no gold
| has come from the sub-treasury, on
| account of drafts from the San Fran
| cisco mint. Without regard, there
fore, to the possible hidden drain Of
cash, a sharp decline in surplus re-
serves is probable, unless the contrac-
tion in loans has been much larger
than appeared. Interior exchanges on
New York at several important points
showed declines today and there was
considerable calling of loans. The
late decline in the money rate to per
cent. had little significance. The rate
was quite firm during the day, about
3 per cent. Contrary to recent expert
cnce, sterling exchange failed to weak
en- in response to the frmness Of
money here, but hardened a fraction
under the influence of London's sales of
securities in New York Total sales,
424.55S
Dealings in bonds We're mostly in
the speculative issues at improved
prices, Total sales par value, $2,375, 900.
United states As declined 3s in the
bid price
| nA.a.I.... ......I-,-., :, - .nnr,rnnn,.