Omaha daily bee., 1896-08-08
STOCKS AND BONDS.
Security Market Was Unusually Ac-
tive md Surprisch tic BrnrS.

NEW YORK, Aug. THE stock market today
unusually active and displayed a degree of
weakness that surprised the most COM
promising bears The declines exceptionally
and only the conservatism of the leaders
of that faction prevented open decentralization, as
the only support by covering purchases.
Liquidation was the order OF the day in all
classes of Stock exchange securities. and some
of the lower records established in the active
list were considerably below the Venezuela
proclamation panic figures. There was no spe-
cial news to account for the break. but an ad-
vance in call money rates to an extreme
per cent. following upon renewed disturbances in
forced selling orders and gave the advocates of
lower prices a clear field There was NOT the
slightest indication of unusual excitement the
floor of the exchange bus the complete absence
OF support was regarded as unfavoraby signiti-
cant of the Respondent feeling generally prevail
inS.
This condition of the Wall street mind was
further evidenced by suggestions OF the neces-
sity of issuing clearing house certificates in order
to protect collateral from open sacrifice. The
semi oiiieally declared 60 be remature. The m"r s
saeging tendency, ignoring slight fractional I'M
provements in the London markets for American
striking few rcachiriis a sensational shrinkage
in the prices of high grade investment securi-
coveries of iqr2 per cent, but near midday the
downward movement Was resumed on the ad-
points included: Manhattan, ~ per cent New
York. Lake Erie & Western per cent; Burlng
ton - per cent M1rfT a an5 Esses az per H cent
cent; Western Union. BiA per cent: Consolidated
Gas and Iackawanna, ~ pei cent; Sugar, 4ss per
7Sehkhess in Manhattan was ;astrf6ed to the de-
Rapid. Transit commissioners.
Late in the day the long expected and much
forecasted statement of opera tions for the quar-
deficit of SIS 200 in the dividends cannot legiti-
mately be considered to justify all Of the recent
bear clamor. The selling pressure appeared ex-
hansted. far es the general list concerned
about o'clock. and. although concessions CON
tinued to bt made in spots. the tendency was
mainly to rally. The movement was very fever
ish and hinged entirely upon covering of shorts
Lake Shore jumped per cent to 1aS. and other
stocks to 2 per cent. The extreme improvements
net losses of from to per cent, the last in Man
haitian. The bond market shared in the demoral-
With the ea spec"iative issues bearns the brvnt
of the liquidation. The losses however. were
the more material in the high priced and less
active bonds. Louisville & New Albany cOnsols
conspicuous for exceptional advance Of
! > per cent to 60 The sales were 81 10000 The
sinking funds SIS. per cent; Manhattan consols.
7ia per cent: ST. Paul. NJ, & NJ. 5s. per cent;
seconds t% 5 per cent Third Avenue frsts sia per
cent; Texas & Pacific frsts ~ per cent, and
fractonaliy f all around on dealings Of $4,000.
The Evening Posts London financial cablegram
fiat. Americans opened well above the parity and
early in the day some blocks of shares We're
the heavy selling in New York the market went
to pieces 1t rallied fracticnaly about o'clock
only to give away again, and closed at the
lowest Railroad bonds practically unmar-
ketabe. The only favorable points bear
sales of leading stocks today as n protection
against unmarketable securities held and the
fact that there is now scarcely any accounts
open. on the other hand. II is feared that, ow-
Ing to the recent ease Of money. large blocks of
stocks may have been pswned and If SO. a
further collapse is feared. The other markets
were mostly under the influence of Americans,
the effect being all the greater because of the
limited markets of the holiday season. The
Paris bourse opened weak but closed better.
The Berlin market steady to firm
The following were the closing quotations on
the leading stocks of the New York exchange