The herald., 1896-11-01
ON CHANGE
Business Transacted and Prices Paid at
Home and Abroad

NEW YORK, Oct. 31.-Today's stock
market practically consisted of sugar,
Reading and st. Paul, no other stock reach
ing the 600O-share mark. The course of
prices was irregular and some of the fluc-
tuations recorded in the principal shares
were material. Lake Shore, for exam
pie, advanced 9 per cent The early
dealings were characterized by decided
strength, but realzations subsequently,
caused concessions. A slump in the money
rates to 10 per cent as the miximum and
average closed at per cent, exerted a re-
assuring Influence. The opening was
strong and higher under liberal buying for
both accounts, despite lower quotations
for An~ican securities in London and
cabled advices of rather discuragng ma
tnre regarding alleged impending finan-
tion with kattirs abroad. After the first
hour the market became very dull, owing
to oli uncertainty Ta rSg.arding . the bank state
sstent IN all items and was more favorable
than had been "a anticipated. showing an in
was not reflected in the Later trading. The
closing was irregular but with material
improvements in number of the leading
shares. The early trading of the week
was marked by continuation of the
bouyance that had characterized the pre-
yious week, under the stimulus of cheerful
forecasts of the financial and the general
business outlook and the animation in the
cereal markets and increased foreign de-
mand had most important part. The
steady Improvement of gold and the in
creased strength of the resources of the
banks and treasury also constituted back
log to the operations of the bulls. In va
rious departments of general trade in
creasing activity and advancing prices
facilitated the efforts of pools in marking
up the prices of the industrials. On Tues
day, however, daring scoop was engi-
neered. presumably by the bear traders
on vague sensational rumors of impending
political complications between this coun-
try and Spain regarding Cuba. The street
fell into the trap. An ensuing rally on the
unqualified denial of the reports was check
ed by growing firmness in the money mar
ket and subsequently dull AND drooping
market was noted. On Thursday the
speculation became demoralized on semi
panic rate for money, 100 per cent rate
being reached. The excitement stimulated
relief action by a number of banks the
next day and a pool was formed with an
lend money from Friday to Monday next
at equivalent to S6 per cent per annum.
This action caused competition between
lenders and the rate, subsequently fell to
s per cent. A large demand for cash gold
had also been reported at advancing pre-
miums. hut at the close the inquiry fell off
materially. Some comment was excited
over the continued firmness of the foreign
gencv in money but this was partially
attributed to the belief that high money
rates would only last for a brief period.
The aggregate sales We're 81 .232 SS3 shares.
with the movement in stocks. The total
sales We're S62s9.000. Governments were
irregular but with a good undertone. The
sales were s242509. A feature of the
dealings in silver certificates was the ex-
ecution of orders for many small lots on
important fluctuations. The movement
was irregular but with frmness noted at
the close The sales were $154,000