The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-12-15
LIQUIDATION IN THIS GROUP THE
FEATURE OF THE STOCK
MARKET.
MATERIAL LOSSES SCORED.
CLOSE FOR THE GENERAL list
WEAK AND AT THE VERY
LOWEST.
THE CUBAN WAR SCARE TO BLAME
Declines Accelerated by Firmnes,
TN Exchange and the Uncovering
of Stop Loss Orders.

NEW YORK, Dec 1.-THE stock market
today was dominated by the uneasiness grow
ing out of the latest sensational phase In the
Cuban situation and revived congressional
agitation. Business was larger than usual
recently and the trend Of prices was toward
a lower level. The railway stocks we're more
active than the industrials but the features
in point of extreme fuctuation, were the
spectahies. In this group liquidation was
clearly evident, and some material losses were
scored. The declining tendency of the mar
ket was to a slight extent accelerated by a
frmer tendency in foreign exchange and by
falling off in east-bound shipments. Stop
orders were reached in variety of shares
causing further unsettling of values but
in the regular railway list there was not any
notable pressure of the long stock. Specific
considerations affected Reading and Consoli-
dated Gas. The flrst-named was depressed by
the threatened legal Gem iications and the I'M
favorable condition of the anthracite coal
trade and the last by the apprehension of
adverse legislation and reported impending
compulsory reduction In gas prices. The
railway bond market, which hitherto recently
has been superior to the considerations af-
fecting stocks, today displayed a sagging
tendency, which was most prominent in the
speculative issues, and this class also alb
mess was impaired to the general market
at intervals, but the improvement was due to
covering and was not maintained. The more
important extreme declines were in Consoli-
dated Gas, 31a; Burlington, rs; Leather pre-
ferred and General Electric, 2; Chicago Gas
and Kansas & TaXas preferred, rs and Man
haitian, IN per cent. The publication of the
plan for the reorganization of the Union Pa
tic railroad in the interests of the holders
of the collateral trust notes and the an
nouncement of opposition to the plan by the
trustees under the indenture Of Sept. A. 1891,
were equally unredected in the price of the
secuT ties of the company. Previously the
collateral trust IS had been one of the
strongest features of the bond market The
closing was at about the lowest OF the day.
showing net declines of 1881 per cent.
The bond market displayed acute weakness
In the speculative issues The sales were
81, 300, GEO. The main declines were in Stand
ard Rope IS and oregon Improvement firsts,
2; General Electric debenture 5s and South
ern Railway 5s, Ia: Hooking Valley 6s,
l1s; Atchison Adjustment As, c., G. & I. con-
soils and Reading is, L. Reading first pre-
ferred, IL; Reading seconds, PA, and Reading
thirds, IA per cent. Governments developed
considerable f1rmness in contrast to the heavi-
ness of the other security markets. Sales
were $45, 500.
The total sales Of stocks today were 49,. $50
shares, including the following: Sugar, % 700;
Burlington, %, 200; Chicago Gas 1890; General
Electric, 3,400; l.. & N, $500; Manhattan,
1880 Reading, 24000 Rock Island, $500;
st. Paul 1880; Western Union, 1850.
leading railway and industrial shares, fur
nished by G. H. F. Smith & Co., members
New York stock exchange and Chicago board
of trade: