The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-08-20
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest OF Exchange News-Mining Stocks.
Metal Quotations-Wool Prices and
Movements-Grain and Pro-
duce-R sview of Trade.

New York, Aug. l9.-The stock market
was strong and active to-day after ii
brief period of hesitation and reaction af-
ter the publication of the bank statement,
new buying orders of conspicuous stocks
lifting them to the top level of the day.
There was some getting under cover UNI
der this bidding of prices and few weak
spots made the market rather irregular
at the close. Yesterdays vigorous up
ward movement attracted quite large
volume of buying orders to the commits
sion houses and the tone of the market
was thus strong from the opening. The
weekly reports of the various trade and
commercial agencies and the increased
earnings of practically all the railroads
reporting helped the upward move
ment.
The organized buying in Louisville and
Tennessee Coal continued in evidence.
and Central Pacific was bid up. Southern
Pacific. in spite of large dealings, was
held back by Drotit-taking and shows
only ii moderate net gain on the day.
Louisville rose an extreme 2ls points and
Tennessee Coal shows a net gain of By.
Takings of ST. Paul were on very large
scale and were accompanied by rumors
of an intention to declare an extra divi-
dend on the stock.
Other stocks notably strong We're Nor
folk Western common and preferred,
the common gaining lR points Pacific
Coast common and second preferred rose
2l2 points each. Hooking Valley preferred,
Atchison preferred. American Cotton Oil,
National Steel preferred. Steel and Wire
preferred and a few other stocks show
gains of a point or more. On the other
hand Sugar, Brooklyn Transit, the to-
bacco stocks and some of the steel and
iron stocks We're under firm pressure.
Losses were shown here and there in the
railroad list in stocks which were lightly
dealt in.
The bank statement was rather puZ-
zlng. in that the deposit liabilities We're
not increased by as much as the cash
and loan increase. But the smallness of
the changes left little ground for anX-
iety. After momentary hesitation trad
ers decided to take the optimistic view of
the statement. Southern Pacific collateral
tours. when issued were taken in large
amounts at a gain of | per cent. An in
spection of the price list discloses some
very wide movements of prices in con-
trary directions.
Industrial stocks. as a rule. are lower.
the exception being the tobacco stocks.
Some very striking gains are shown in
individual railroad stocks. but the
changes in majority of those stocks
We're surprisingly small until to-day, con-
sidering the activity of the market and
the furious speculative contest which has
been waged from time to time. So far as
an effort to cause IA general reaction in
prices is concerned. the bears have suf-
fered total rout and have shown symp-
toms of exhaustion and a disposition to
cover short contracts as the week prom
Used. A marked sentimental effect was
produced early in the week by a pub
lished announcement from stock opera
tor noted for his boldness and many sue
cesses, that he persisted in his belief that
prices We're too high and certain to go
lower. This announcement induced a con-
siderable following among the room
traders, who have constituted the greater
part of the market for some time past
and the buoyancy of "a few stocks on
Monday following the favorable bank
statement of Saturday did not awaken
any general demand for securities. There
was a watchful anticipation of a bear
raid. which came on Tuesday with
fierce onslaught on Brooklyn Transit and
American Steel and Wire. On Wednes-
day the battle was continued and shifted
to Sugar, Tennessee Coal and tobacco
stocks, when signs of realizing sales after
the large gain in those stocks made them
vulnerable. Only a slight effect was pro-
duced on the standard railroad stocks
and individual stocks continued to show
STRIKING gains. quite number of OBJ
scure stocks were brought forward and
the prices run up rapidly upon the IA
vorable conditions of the property. Pool
operations also came into evidence. The
organized buying of Southern and Cen
trail Pacific and Louisville & Nashville
was particularly notable. AS there are
heavy holdings of these properties in for
eign hands, the stock became scarce for
delivery and the rise was thus aided The
pressure from bear sources was largely
removed as the week progressed. Late
in the week the market broadened, but
not very materially. and began to show
signs of an outside interest being attract
ed by the leadership of organized pool in
terests which had set about bulling
stocks.
Call money has eased an additional
fraction in New York under continued
offerings from outside domestic centers
Increased confidence in the money out
look has been the prime incentive in the
advance in stocks. Bonds have been less
active relatively than stocks and price
have been irregular. The
speculative issues generally are higher.
L. S. new As coupon had advanced u
per cent. and the old As and SIS advanced
Is per cent. in the bid price.