Omaha daily bee., 1896-12-06
STOCKS AND BONDS.
Speculation for the Dny Limited and
Quite

NEW YORK, Dec 5.-Todays limited specu-
lation was irregular in movement. but the
changes were in most instances unmportant,
aside from the specialties. This last class vas
affected by Independent influences. The market
clearly professional, and the trend of prices
mainly downward. The declines inter-
rupted at intervals by purchases to cover shorts.
The initial dealings showed losses generally in
part occasioned by the influence in the London
market for American securities. rally soon
occurred, under the leadership of the indus
trials. Union Pacific displayed activity and
strength, and IL per cent in connection
with the resumption of efforts by strong financial
interests to agitate the question of a. settlement
Of the company's debt to the government In
particularly Tobacco. The present plethora of
money caused favorable bank statement. The
cessions generally. Railway bonds were active
but lacked feature. Firmness almost gem
orally noted but declines occurred in several
issues International and Great Northern sec
ond5 lost lts per cent. The sales 81 lg9 600.
The market during the week dominated
session OF congress and the probable tenor of
the presidents message touching upon the Cuban
question. Leading interests were content TO re-
main passive until the outlook was more definite.
and this fact was improved by the operators
for decline, their special efforts being directed
against the industrial group, The market was
unfavoraby affected by more or less constant
liquidation in the specialties and discouraging
exhibits of railway earnings, Foreign dealers
cabled moderate selling orders in the leading
International shares. The specialties We're the
features OF the speculation, however. ana fiuctu-
ated rapidly, with downward trend The stocks
OF iron and steel companies were depressed The
extreme ease In money rates. receding to a llsG2
per cent basis. which would ordinarily stimulate
activity in stocks, involved advance in ster-
ling rates which occasoned discussion regarding
the probability OF a RESUMPTION Of gold exports
from this country The theory does
not find wide acceptance. owing to the
unusually favorable International trade position
OF the United States and tAe large sums OF money
that have been loaned to Europe In addition
TO the influences noted, the subsidence OF ac-
tivity In the railway bond department ana the
al grail N Ia tHp aplp ri
claimed by the bears TO fOreshadow decreas-
ing bull prospects, Sugar was depressed with a
view toward influencing the general list, In con-
nection with the reported impending starting
up OF the independent Arbucke refinery. The
market strengthened as the week progressed and
wider distribution or tae dealings noted
Commission house buying became evident, and
an increased inquiry for gilt-edged securities.
Improvement also occurred In the so-called mis-
cellaneous stocks. Suggestions of favorable
stocks helped 10 an improving tendency OF the
market and were 10 an extent borne out hy the
declaration OF n 1 per cent disbursement on
Southern railway preferred. This action was
considered especially significant Of confidence
entertained by the powerful interests connected
with the property, 10 the improved
rate situation In the south and the general
business outlook. Foreign operators changed
front In tho closing half OF the week and repur-
chased a considerable proportion OF the stocks
ganizet properties. The Indications Of early ac-
ton OF the usual December dividends on the
Vanderbilt properties induced brisk demand for
those shares. which. In turn. gave tone 10 the
statement for nine months. showing ample pro-
vision for all charges ana DIVIDENDS, caused an
advance 10 lb5A, the best price ever recorded
for the stock. Baltimore Ohio displayed pro-