Omaha daily bee., 1896-11-29
STOCKS AND BONDs.
Securities SnEgcd on Moderate and
Ind Iile ereniLN niAIrihmIcn DcnIinEs.

NEW YORK, Nov. 2S.-The stock market today
on moderate and indilferently distributed deal
ings sagged sharply under aggressive movements
by the bears against the hgh priced stocks and
| liquidation in the specialtles. The last men,
| toned influence has been decidedly marked of
late, particularly in the usually neglected stocks
| including Laclede Gas. The common fell per
| cent to 2l. but made full recovery, while the
preferred declined to 72. The supreme court deci-
| sion affecting the companys charter, which
| has been long pending is expected u lie lCn-
| dered on Monday, and the suggestions made by
| the traders that the opinion would be UufavOr-
| able caused the slump. The news II the day
was encouraging, but owing TO the peculiar
| speculative conditions existing failed of effect
| The items included favorable bank statement
and the October report of the Burlington showed
an increase in surplus after charges Il $2o7, 1876.
| The stock, nevertheless, scored an extreme de-
cline In the active railroad list Of lls per
New Jersey Central, which, the continued mild
weather broke per cent, has checked activity
| in the anthracite coal trade. The losses other
wise, except in few instances, did aot exceed
fractions. ripple of frmness was apparent in
the early trading, but the selling pressure soon
turned the scale. The closing was at about the
was disappointing TO the bulls, as efforts TO
establish higher range nullided by per-
sistent bear aggression, and constant GtIbbling
out OF long stock. 1t Is believed the short inter
est has been materially increased. The lquida-
tion was most pronounced in the higher priced
stocks and in tae specialties, and was superin-
duced by the almost complete disappearance Of
investment and outside speculative interests and
the apathy of the leading operators usually ijen
titled with the long side of the market The de-
clinlng tendency was checked early In the week
and rally occurred on advice OF easier mon
etaly conditions abroad ana the discovery of a
large short interest in American securities In
London, incidental TO the first making up day
for the fortnghtly settlement.
The dealings were mainly on the selling side
thing that attributed TO the unpaglnegs
regarding the probable inagtion of congress in
connection with the Cuban question ana in ex-
pectation OF continued nfayorable returns by
granger lines. These conditions also assisted
the local bears and restricted dealings 10 a
considerable extent As usual, the lndustrals
were effected BY specific developments, as well
as by the apprehension Of impending hostile
legislation In certain instances. Sugar was ham
mered in connection with the temporary sus-
pension OF OF the reHneties over the
~ per cent on disappointment over the non
realization OF the recent extremely bulsh gossip
regarding probable 10 per cent scrip dividend
in addition 10 the regular quarterly disburse-
ment. The declaration OF only / per cent dyI-
dend on Leather preferred precipitated a decline
OF ~ per cent In the stock, previous reports
OF the improvements In the company's financial
status and in trade conditions had led the street
expect a more liberal policy, There was a
contraction OF business in the bond market and
prices eased or In sympathy with the downward
trend In stocks and dealings were chiefly CON
fined to the reorganization issues, and
row fluctuations. An investment demand for
government bonds, partly stimulated by the
drop In money rates TO a 2u2k per cent basis
including the currency bonds, which are usually
inactive The stock market closed weak at net
losses averaging about point. The aggregate
sales 733, 569 shares. Speculation in bonds
during the week was mainly unnterestlng ana
lower prices prevailed. Some OF the Inactive