The sun. [volume] (New York [N.Y.]) 1833-1916, 1896-12-20
SATURDAY. Dec. 10.

x csntrs,.---- OF wabash pf..-...-. Is
SATURDAY. Dec. 10.
Al foreshadowed in this column this morning.
. better understanding. or rather o more
rational view of the action OF the Sen
ate Committee on Foreign Relations ro-
Gnrdine tho Cuban situation than pre-
vailed yesterday afternoon, developed before
the resumption of business on tho Stock
Exchange to-day. After q nights reflection
Wall street realized that the desire Of the Son
ate committee to recognize the Independence OF
tho Cuban insurgents was o much less serious
proposition than that contained In President
Cleveland's Venezuelan message . rear ago.
The financial community also seemed to
appreciate the radical dlnerencsn between
the general situation OF q year ago
and that Of to-day az pointed cut in The suN.
Still another circumstance that Influenced :
sharp recovery In prices during the two hours
OF business on the Stock Exchange this morn
ing was oircumstantial evidence that the break
yesterday afternoon was engineered by pro-
Eessional operators who sought to take advan-
tago Of the action Of tho Senate Com
mittee. As tho speculative element in
Wall street 10, owing to ita own predictions,
inclined to discover sordid motives oven for
tho ~loftiest and most patriotic actions, 1t was
not surprising that 1t advanced the Wow to-
day that certain Senators are seeming
ly bent on involving the United States in
international complications on account of
their interest on the short sido OF the market.
1t was also current gossip In the Street to-day
that prominent members of the Senate Com
mittee on Foreign Relations are interested in .
pool In Cuban bonds.
The dealings in stocks this morning were
upon about the Same scale as yesterday. and the
| indications were that II the session had been
continued until 9 o'clock nearly all Of yester-
days decline would have been recovered. AS 1t
was. the improvement during the two hours of
business averaged for the active stocks
fully ~ Q cent. A good many of the
long stocks thrown over yesterday were
repurchased. The heaviest trading was, as for
somo time past, In Sugar Refining. c., B. and
Quincy. St. Paul. and Manhattan Railway.
The last named was an exception. to tho rule,
closing fractionally lower than yesterday.
The stock declined Q points eoon after the
opening. on the publication of tho details of the
action brought by o bondholder against the
company on account OF the payment of divi.
dends which. It 10 alleged. have not been
earned. 1t has bson known In the Street for
two weeks or more that such a suit would be
brought, and rumors regarding 1t have
been used to depress Manhattan Railway
stock. The proceeding favors strongly OF stock.
jobbing. and In now classed by the Street with
other manifest efforts that have been mads
during tho week to depress prices. Those effort,
include an attempt 70 magnify tho importance
OF tho Ogden Gaslight Company. q compare.
lively new concern that, according to all 90
counts. has undertaken to compete with the
combined Chicago Gas companies.
The weekly statement of averages Of the Az
ISOLATED Banks indicates progress and q healthy
condition. The banks have gained ga, 400. ooC
In lawful money, nearly one-ffth Of It In specie
The loans have been expanded to an amour,
slightly in excess Of the cash received. and
these two changes result In Q log.
cal increase In the deposits Of near.
ly o. 100000 Az only half of the In.
crease In lawful money 10 required as reserv.
against the larger deposits, the surplus 10 In.
creased nearly $l,7oo. 900. TO $33.274.ooo. TIL.
statement cannot but be regarded as n ~estisfao.
tory one in every respect. 1t foreshadowl
Q continuation of tho present ease ir
money. The only disturbing factor In til.
money market this week, and 1t hal
been slight. IL the possibility that two or thre,
millions of gold might be shipped to Germany
on Tuesday. At the moment such shipments
appear TO DO improbable. and II they arc mo-
made that fact will corroborats the view he,t
by foreign bankers that after the hrst of tn,
year there will DO o recession In discount rate
both at London and Berlin.
Al compared with the final prices of last Sat
urday. tho list Is lower. with the exception o
American Tobacco, which WASH y cent. higher
The more important net declines are In Consoli
dated Gas, ~ y cent Manhattan Railway. 7
Burlington and Quincy. eIs; American SugaI
Refining. 49,; Rock Island. SO, Western Union
BIG: Tennessee Coal and Iron and u. 8. Leather
preferred. 8 zach; Louisville and Nashville. 22S
American Spirits Manufacturing preferred. 2N
Chicago Gas. 25s; Cleveland. Cincinnati. Chi
cago and st. Louis. 2h; Kansas and Texa
preferred. Pacific Mail. and Southern Railwa,
preferred, 2ss each; Canada Southern snc
Northwest, 2A each; St Paul and Reading. 2h
each; Missouri Pacific, 2; American Spirit
Manufacturing. IN, Wabash preferred. ~
Atchison preferred, 1Hs; General Electric ant
Union Pacific. ID eachj Wheeling and LAX
Erie. M, and Atohison, Is y cent.
Final salos compare with those OF yesterda,
IS followsl
Dec. 10. Dec. TO-, Dec. Ia Dec. 10