The herald., 1896-02-09
THE MARKETS BY TELEGRAPH
Money, Stock, Bond and Pro-
duCe Quotations
WALL STREET SPECULATION
Trade Irregular at the Opening, But
Quickly Improves
Tie Oversfaiowing Topic OF Interest Is the
Bond Bids, ana the General
Eject IL Good

New YORK, Feb. S.-Trading in stocks
was quite brisk for half holiday. The
movement of prices was irregular. Disap-
pointing foreign advices in regard to tho
prices of American stocks and continued
selling in this morning for account of
European dealers exerted an unfavorable
influence at the outset. Very soon, how
ever, strength developed in the industrials,
while the railway list exhibited a sagging
tendency. The fluctuations in prices were
very unirnportant until the end of the first
hour, when the bull leaders took effective
action and on heavy purchases the market
took the up-tacl. The gains scored were
material in a number of instances, sugar
rising 2. Profit taking toward the end of
the session caused general recessions and
the market closed irregular at concessions
from the top figures. but at general net
gains. The overshadowing topic OF inter-
est of the week, both in and out of Wall
street, has been the closing OF
the bids for the new government
detail connected with the event has been
scanned with great eagerness, both at
home and abroad and the probable after
effects of the loan continue 10 be discussed
by leading financiers with marked anxiety
so far as the money and commercial paper
markets are likely to be affected thereby.
1t is contended in strictly Wall street
circles that the primary object of the latest
bond issue is likely to be in a large meas
ure defeated. The point ia made by those
critics that no small part of the treasury
stock of gold may be taken to pay for the
bonds and that the net increase in it's re-
sources from the sale of bonds will fall far
short of present anticipations. Already,
however, Indications point to relaxation
in the tension in the money paper market,
although bullion dealers profess to expect
gold, as a commodity, to 60 to l PER
cent. premium the coming week. The
market has been active and the movement
irregular. The fluctuations have, in the
main been dictated by prominent specu!a-
ton leaders, although some good invest
| ment buying of the grangers and few
other stocks has been noted. Sugar and
St. Paul have disputed the leadership of
the market and show net gains of 52s and
and 81 per cent respectively. The more
important influences, aside from those
already noted, have been the news that the
house will upon Monday vote upon free
| silver substitute for the bond bill; rumors
, affecting the financial credit of the Mis-
souri, Pacific. afterwards authoritively de-
MED; persistent selling of American
| stocks for foreign account, and the usual
adroitiy arranged outgiviugs of the manip-
| ulators of the industrial stocks. The net
results show advances, including Pullman
and Rio Grande Western preferred, 5 per
| cent; Northwestern, 33l. The aggregate
! sales were ,45S,117 shares. The railroad
| bond market today exhibited continued
strength, and advances on dealings footed
up to $995 900. Governments ruled strong
and higher. The new tours coupons were
in great demand, $50 1000 changing hands
Railroad bonds for the week were strong
and final prices for the leading speculative
! issues are generally materially higher
The aggregate dealings were $9,O75,OOO
The pronounced success of the new gov.
eminent loan was ref cted in IA buoyant
market for the issues outstanding. The
coupon bonds of the recent issue were in
live inquiry and rose 4 u per cent. The
transactions were mostly all "seller 20, v
though number were made at "seller l o.
and regular. The new tours registered inn
proved to an equal extent, and gains OF 2
per cent were established in the tives and
| old fonrs. The transactions made the total
! of $4,000.
| Silver certificates displayed revived
| strength and activity toward the close. The
transactions amounted to $4,000 at from
67A to $50.