The herald., 1896-08-09
SUMMARY
ON CHANGE
Business Transacted and Prices Paid at HON
and Abroad

NEW YORK, Aug. S.-The stock market
today was active and irregular with a
feverish tone prevailing throughout. Cow
ering of shorts was practically the sole ele-
ment of support The only new develop
ment bearing upon prices was the bank
statement showing decrease of So, ,913, 900
in surplus and falling off of $7,SS4 500 in
deposits. The exhibits exerted an uncom-
fCrtable influence, although in the judg-
ment of conservative operators less fav-
orable showing had been discounted. The
opening was weak and fractionally lower
the more noteworthy losses being in sugar
and the internationals The last mention
ed. were affected by weakness In the Lon
don quotations and selling for foreign ac-
count in this market. Extensive covering
purchases caused an improying tendency
gained ~ per cent. Realiza lions and a
renewal of raiding by the bears resulted
III III reaco,oh ~nIcn was accelerateu oy
the bank statement, The list as a rule
sagged to the lowest point yet recorded.
falling pressure was uninterrupted to the
close, which was weak with general ma
terial losses. The developments of the
least striking, ,intthe history of Wall street
The speculationGwas marked by a steady
melting away in the values of stocks and
ment character fl epression grew large
ly out of previously prevailing and still ex-
isting conditions. rather than of any spe-
tton of a gradual increasing stringency in
the money and commercial paper markets.
While panic prices were. recorded, there
was not an open sign of embarrassment
OF of exceptional excitement. Liquidation
at times was SO violent that apparently on
ly the interposition Of the bear leaders
prevented the market from going to pieces
London with unimportant monetary ex-
ceptions was depressing factor The
current disturbance In rates, unfavorable
cotton 1nGafiGfpn-
tory railroad returns, the prevailing COM
mercial depression and the failure of Moore
for the bears against the general list. Large
sums of money were shipped to the in
terror and especially in Chicago. In some
celled in order to furnish much needed
accommodations to mercantile clients.
Time funds ruled at sharp per cent on all
per cent higher. The hardening in money
rates worked to the advantage of the
amounts were made The increased de-
claration bills against futures. together
with marked falling off in demand caused
a Sagging tendency in the exchangdmar-
ket with demand receding to 4.SS%. An
incident that exerted decidedly unfavOr-
able influence was a suggestion of the pro-
tifcations for which provision was made
in the December panic. The report elicit
ed denials Of Of the present mt, necessity <. Of such
dCllOl OIi tiC Pdit Vi WCii iiiiOI Aicu ilIdI-
ciers. The aggregate sales were $1137, ,563
shares The bond market of the week dis
played to the fullest extent the generally
unsatisfactory condition of financial af-
fairs. In many Of the gilt edged securities
1t was impossible to secure bids and sales
were made at important variations from
the previous transactions. The sales were
81, 243. 900. Trading in governments was
comparatively light but prices showed
marked concessions throughout. Ths
sales were $3.50. .0O0 Silver certificates were
neglected and moved narrowly on dealings
of S37, ,000