The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1903-08-11

New York, August 6~.-FoIloWing a
weak. almost panickly opening. today,
stock market suddenly reversed its
course, substantial gains being regis
tered by practically all the better class
securities. The average Of net ad-
vances were about ? per cent IN
suDle instances gains were much
greater. New York Central led the
active list with a net gain of 3 3-S.
The change of from. which occur
red in the early afternoon. was doubt
less due to several reasons. the most
potent of which was the good buying
which seemed to emanate from high
quarters. There is little room for
doubt that stocks were purchased
freely today by insiders, by banks,
banking houses, financial institutions
generally, and wealthy individuals be-
they seemed cheap. No justi-
fication could be found for the report
rather industriousIy circulated, that
that the VanderbiIts. Rockefellers and
Harrimans with their hosts of follow
ers. had entered upon a plan to lift
prices. AS a matter of fact. no little
part of today'S Improvement was I'M
doubtedly due to extensive covering,
| many on the short side regarding the
| market as being very much overSOld.
Despite the marked improvement,
| further talk of trouble and probable
| failures was heard On every side. al
most to the close. which was really
buoyant.
Reports current in trustworthy cir
| Cles suggest that several firms. and
L nlJN-iIIJa lC whose n flo jvS JI-arn f0llnI
to be in bad shape. have been per
nitted TO make private settlements.
| thus saving themselves such sacrifices
as would inevitably have been made
had their holdings been thrown upon
| the market.
The days business was slightly less
than one million shares. Stocks thai
made the most extensive net gains in
Clude sugar. American tobacco. pre-
ferred; st. Paul, Colorado fuel. Della
j n Hudson. Denver and Rio
Grande. General Electric. Hooking
Valley. preferred Illinois Central, In
ternational Power. Louisville anC
Nashville. inc Metropolitan Subscrip,
ton. New York. Chicago and ST. Louis
second preferred: North American
rubber goods preferred. Southern Pa.
Cific. NEUTRALITY-SUSPICIOUS. Chemical. com
mon and preferred; Wabash preferred
Westinghouse. Wheeling and LAX,
SCCcl4u pItltlItu, dilu 81. LOuE
and San Francisco. Eastern Illinois
certificates. the latter advancing l
points. Improvement was shown ais,
in the bon list.
George H. Sullivan. assignee for th
firm of Sharp & Bryan, said today tina
he would not be able to make an,
statement in regard to the firrn'S If
fairs today. He aid that th"re wer
so many details to look after that
might require some time before h
would be in a position to state exact
ly the condition of the firms affair:
Henry B. ketcham. assignee for tn
firm of Hurlbutt, Hatch and Compan
said today that he probably would b
unable to make a detailed statemer
of the firms liabilities before late tC
1 morrow or possibly Monday. NJ
: ketcham said that so far as they haV
been able to ascertain. the firm he
{ no outstanding contracts on the fiOt
of the exchange. He also said thu
the secured claims as neal as he cou
tell at the present time. were less tia
5000. 900 and the unsecured claims a
K under $3.50. 900.
= The failure of LaidIaw and CARR
which was announced on the Coz
SOlidated Exchange. was not impo
. tant enough to lave effect on Il
stock exchange