Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-11-28
DUE TO THE TARIFF
Stock Market 0emoraIized BY the
Proposed Change.
CAUSING A SLUMP IN PRICES.
Amsriean Sugar w.s Most Aneeted
Bas ths Industrial and Railway
socks Dscllne1 Somsw hat

SEw YoEx. Nov. 27.-Monsy on call
has been sasy .s.nging from fsl1s per
esat; last loan At u Per cent. and closing
offered Al ! y per cent
Prinls mercantile paper i9S1s per
cent
Bar silver. 6el4c.
MEXICAN dollars. 56c.
Sterling exchange 10 easier. with
actual business 10 bankers balls at
sLsS<sls3i. For sixty days and tiso1s
for demand
Posted rates sIs3is0is6ss, CONNER
cial bills. is1Auls2i4 for sixty days
aad tisi' pAs41s for demand
Government bonds frm; state bonds
dull; railroad bonds dull bat stronger.
Silver az tho board vas neglected.
The recommendation Of the ways
and means committee on the proposed
tariff bill demoralized the market for
the industrial stocks today. Prices broke
badly. and the trading In thess issues
reached the enormous total OF 3S.5I6
shares. o. which 1882 were American
Sugar This stock also led in point OF
decline. falling from VA to Sis. The
proposed reduction in the duty on re
hned sugar from To cent per pound
Vas considered severe blow 10 the CON-
pany. and there were people in the trade
who claimed that il meant curtail'
ment. IL not a cessation. OF dividends 10y
this corporation. Distilling and Cattle
Feeding broke from 3ol. TO 36i. in sym
PATTY. The change in the tax on dis
titled spirits will be smaller than gen
orally expected. IL wall be remembered
that the stock went up lately on rumors
that the tax would be advanced Dfg 3Oc-.
bpt now il is thought it will be only 10
ceats per gallon. Cordage was depressed.
1~ing to the announcement that binding
sine will be put on the free list. Lead
also broke badly, the reduction In the pd-
salOrem on finished product To Ia cents
against cents. and the duty on pig 10 cent
against cents. having led To free sales. Gen.
eral Electric and Chicago Gas were both
freely sold. ana scored heavy losses So far
a. the railway list IL concerned. u may lie
said that 10 held up remarkably well, consid-
erlng the break in the Industrial group.
Toward the end OK the session, however.
Their was more disposition To sell the rail-
ways. and a general decline followed. The
largest losses were American Sugar, "a TO
s5is do. preferred. ~ Ia $50; Distilers.
81. 10 ~; General Electric. 2as to So; Chi
easo Gas, y 10 ga Burlington. III to sOs4 !;
S. Paul, IL To s4sl Rock Island. IL to
tsil; Lake shore. ~ TO So; Missouri Pa
chic. IL to 2314; Lead y. to 3ss; do. pre-
ferred. Q 10 80; Cordage, 81 TO 1871 do. pre-
ferred. - to 40, New Jersey Central. "a 10
Sill; New England. pa Ia -; Omaha, u
TO ISL Union Pacific. y to 49,; and West
ern Union. Ia to s9i1. Near the close the
selling movement started and Al ght rally
resulted Compared with saturdays final
figures. however. the leading issues show
Losses OF a to Ga per cent. the indus'rials
ie2ding. In the specialties. Rio Grande a
Western rose To -; Morris A Essex, / 4 TO
si.Ht.; Chicago Junction and Union Stock
Yards, = TO 81, and Duluth preferred. 3aa Ia
~. The total sales of listed and unlisted
stocks were 3I5. SIS shares.