The Worcester spy., 1899-08-12
FAIRLY ACTIVE.
Prices Barely Steady
For the General
Market.
COPPERS CONTINUE HEAVY.
Trading Continues Mostly
in Industrial
Shares.
COPpERS CONTINUE HEAVY.

Trading in the industrial shares con-
tinued the principal feature of the Wall
street stock market again yesterday.
Except il, few instances, prices
were barely steady, owing to consider
able liquidation by room traders, who
also confidently put out new lines of
short stock in anticipation of another
upfavora5le bank statement today. The
surplus OF the New York banks, as per
last weeks statement, was but little
more than eight millions, and the pros
poets are for further reduction. This
necessarily must result in a firmer
market, which to the speculative COM
munity is a veritable bugbear. The
street is so accustomed to having loan
ing rates rule at abnormally low fig
ures that it becomes frightened when
ever the rates advance to a normal
basis.
At the opening Leather stocks were
in good demand, but changes in prices
of railroad stocks were small and pret-
ty wen mixed, and the market was
quite active. Tennessee Coal was lifted
to SO IL, and some other iron and steel
stocks gained a point Buying of Lea
ther common continued on a very large
scale, and worked above 10. Later The
railroad list was heavy on the low per-
centage of spring wheat shown by the
government crop report, and there was
realizing in some of the high-priced in
dustrials. The weakness Of the stand
ing railroad stocks gradually permea-
ted the entire list. Losses averaged a
point for the most active stocks, but
business lessened considerably on the
down grade. The market rallied but
feebly in the afternoon, but there were
gains of 1 to points in Mexican Cen
tral, Mexican National, Missouri, Kan
sas & Texas, Detroit Gas and Union
Bag & Paper common and preferred,
while Oregon Navigation fell ! 3-4
In the local stock market yesterday
the copper shares continued heavy.
There appears to be a disposition on
the part of large holders to reduce the
amount OF their holdings, not particu-
larly in The low-priced shares, but in
the higher-priced coppers. Not that the
outlook for the copper mining industry
is any the less favorable, but on ac-
count of the extremely high level which
most of these shares have reached. In
the low-priced shares the situation is
somewhat different. Insiders undoubt-
edly are carrying large amounts, but
are not inclined to liquidate at current
4l6 VI CD, lClNlA LIB " dW dtll IL IlOIS Id
vorab1e opportunity, or until such a
time as the market for the copper
shares is more active and firmer. Do
minion Coal, the favorite of the past
few days, reacted on realizing sales,
losing point to IS IA, with a rally
of Ia to IS IL. Osceola was off IL at
80 1-2, and Arcadian lost 1-2, to 76
United States Mining lost 3-4, to 27 IL.
British Columbia was in good demand
and rose from IL SS to II 3-4 on buy
Ing by numerous commission brokers.
Atlantic lost 1-2, to 2S Ia. and Baltic
8-4, to 27 ga. In the railroad list there
was no special weakness, but prices
were inclined to a sag.
The following quotations were made
on the Boston exchange on stocks held
in Worcester and vicinity
Bos sTON STO CKS.
August II, 1899
(Reported by Kinnlcutt & DeWitt.)