The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1900-04-05
FINANCIAL and COMMERCIAL
Quotations Of Staple Products In the
Leading Markets
new York stock, Money and Grain
Market Review

By direct private wire to Louis ). Col
well, manager of Price, MoCsrmiok q
oompany's branch of1ics, No. $40 Middle
street.
New York, April 4.-The opening OF
the stoe L market was again irregular the
railroad list being decidedly strong whilst
the steel stocks were heavy. LONDON
houses traded on both sides OF the mar
kst. the principal feature of their trading
being heavy purchases of Union Pacific
common. There was considerable activ-
ity amongst the commission houses IN
the hard coal stocks more especially in
Reading, the buying being based upon
en- assertion by the Times 30 the effect
that . consolidation Of the Reading,
Erie and Lehigh Valley systems was In
contemplation under Vanderbilt auspices.
The upward movement Of these stocks
however, more especially In Reading
attracted considerable realisation and
opening quotations were the highest Of
the day.
Sugar displayed considerable strength
during the entire session owing TO the
decline which has taken place In tn g
price of raw sugar. The differences be-
tween the price Of raw sugar and the SELL
ins price Of the refined article by tie
trust is now said to admit Of small
profit.
Manipulation Of American tobaeco was
renewed with good deal OF vieors- ita
object apparently being to attract outside
speculation. The object was not realized,
and the hulk OF the trades tohay were
bet Ween brokers who are supposed TO
represent the manipulators. After the
hrst hour the market became somewhat
dull and there was considerable realiSa-
tion all around the room.
The event of the afternoon was the AK
traordinary rise in Psnnsylvania and the
sympathetic move In New York Central.
the buying of Pennsylvania was thought
to lie very good. A large portion OF the
sailing was by foreign houses.
The room was disposed to believe t1at
the movement in these two stccks was a
confirmation Of the story which IL In
circulation, that the Psnnsylvania and
New York Central intsEests were In a
fair way of controlling the principal
EaEtern trunk lines. During the last
half hour n further break In the ste'
stocks notably In Federal steel caused
something of reaction In the railroad
market but generally the railroads CLOSED
strong and higher than they did last
night.
The dafinite announcement that Ad-
mirrl Dewey would accept the nomina
ton to thePresidsnoy II requested oreated
q good deal OF discussion on the door.
The general opinion was that rs far &c
Wall street Is concerned the election
would have a gerry much less disastrous
effect upon business II the candidates
were MCKINLEY and Admiral Dewey,
than II they were MIR Mckinley and Mr..
Bryan, the superstition being of course
that the nominationsof Mr.. Dewey would
moan the abandonment OF the free silver
plank of the Democratic platform. In
the loan crowd stocks were offered freely
Pennsylvania especially being In excel
lent supply whereas the demand for II
was comparatively light. 1t loaned mp
to the full money rate whereas last night
the lending rate was two and one! ALI
and three per cent