New-York tribune., 1896-07-30

Wednesday. July 29-p. m

Wednesday, July 29-p. m.
Trading for the professional account consti-
tuted the bulk Of the days business in stocks.
the market ruling irregular until the afternoon.
when sharp rally carried prices for the ma
tority Of active shares above last nights closing
Opening prices were weak, with net declines in
most stocks In the first two hours of business.
London prices were again Disappointing and
there was considerable local selling. which at
one time looked like liquidation. but subsequent
covering Of shorts quieted the market and
changed the course OF prices. London bought
and sold alternately. its transactions about
balancing. but the business by arbitrage houses
was small and had little influence upon the
market In the afternoon there was buying for
both accounts. and sentiment was more cheerful
over the political situation, inspired perhaps by
the presence of Mr. Hanna in this city and the
growing detection among the Democratic ranks
in favor Of the Republican sound-money ticket.
Advances Of AG2 per cent were made nom the
lowest prices Of the day, and. although re-
action caused by realizing sales shortly before
the close brought on Slight declines. last prices
a rule were we'll above the opening quotations.
The Granger shares and Louisville and Nash
Vile made fractional net advances, while the
Industrials, a rule We're slightly lower. Ex-
ceptions to the general strength among the rail-
way shares were few, the principal ones being
Delaware Lackawanna and Western, which lost
per cent. and Lake Shore. per cent. The
days business was not we'll distributed the chief
dealings being IN Sugar Refining the Granger
shares Louisville and Nashville American To-
bacco and Manhattan. Total sales were 24O,S0I
shares against 212,9S0 yesterday.
Offerings Of city bonds in the last two days
have been failures, and have given the bear
element another and unexpected opportunity
to harass the stock market with Its fears and
doubts about the political situation, as nstanced
in yesterdays market and In the early trading
OF to-day. The failure Of the city to dispose OF
its bonds reflects the general ndsposition OF In
vestors to enter into any contracts while the
political campaign is pending. and 1t accentu-
ates the feeling Of uncertainty which exists IN
some peoples minds over the final outcome or
the political fight. II would indeed. be cause
for refraining from taking city gold bonds II
there were a prospect OF the country going into
the hands Of repudationists. whose programme
does not recognize the inviolability Of private
contracts and people might well be afraid OF
risking their money In gold bonds which would
find no favor or receive no protection from
party Of self-declared repudiators. New-fC fCrk
and Brooklyn have both failed to place bonds.
which in ordinary times would be eagerly sought
after as prime investments. and II seems un-
fortunate that at this time fear should prevent
people from taking advantage OF hrst-class In
vestuent offers Investment houses did not bln
IN the bonds for the prospect Of selling them over
the counter was too small. The demand for all
ines of investment securities Is curtaied. limited
nv tendencies Of q small minority OF the people.
Tbere is no support to the stocks or bonds. and
- ono save the professional trader is In the
market. ,h., ~, .o,,va
,tocks compare with yesterdays as follows: