The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-08-08

ago. when. in an unostentstious way. II paid
European bankers commission to secure
gold for II in the United States
| The stock market was in the main dull. II
was generally described as waiting affair
with the bears showing more disposition than
the bulls to tost II. Tho majority OF OPP
orators or both sidos evidently wish to learn
the contents OF tho Presidents message
and obtain Trustworthy indications, as to
tho course Congress will pursue in treating
tho questions that have brought II together
before Increasing their ventures The bears.
nevertheless. betrayed to-day moro impa-
| tience or possibly confidence. than their op-
| ponents: at least they were moro aggressive.
| They paid attention chiefyto Union Pacific.
! General Electric. Missouri Pacific. Sugar Re-
| nning and Northern Pacific preferred. In the
| early dealings reports OF an impending re-
! ownership for Union Paciflce were revived
and were effective In helping 80 lower tho
price Of the stock points from the opening
figure. Nearly half Of this loss was afterward
recovered.
A somewhat greater decline was brought
about in Missouri Pacific. and. as II showed
loss recuperative power. its not loss was great
or than that In Union Pacific. General Electric
closed 3 points lower. Northern Pacific pre-
ferred nearly 2. and Sugar Refining 4 y cent.
The net fluctuations In the two stocks that we're
most extensively traded in. namely. Chicago
Gas and St Paul. were unim portant, though
the maximum fluctuations were wide
Othcr stocks than those mentioned wore COM
paratively neglected. and with one or two ex-
ceptons made no particular progress in either
direction. Money on call was distinctly easier.
chiefly because OF the moderate demand.
Hallway earnings for recent periods that are
now being reported appear to have very little
effect upon the market for tho reason. doubt
less. that they havo besn largely discounted in
present prices
It is possible that The existing condition Of
railway traflc. which Is resulting in the dis
charge OF employees and in reduced wages.
mny emphasize the conditions that the rail.
roads have been struggling against ever since
the Interstate Com merce law was passed No
ono expects anything but financial legislation
from tho special session OF Congress: still, it
is to be hoped that It's member. may. during
the next few months he compelled by the ne
cesstles OF thor constituents. q large percent
nGe OF whom are railway employees and small
investors in railway properties. TO realize tho
injustice inflicted unon tho transportion In
dustry by certain provisions of tho Inter-
State Commerce law. The most Grievous Of
these Is tho prohibition of pooling as n
means OF maintaining uniform and equitable
rates. In tho opinion Of many OF the abless |
and most conservative managers m amend
ment to tho law that would legalize pooling !
under Government supervision and mako |
violations OF the law punishable by heavy |
fines. rather than by criminal prosecution. !
would result in radical improvement in the +
railroad situation. Tho closing Of tho stock
mark 81 was irregular.
Final sales compare with those Of Saturday