The Saint Paul globe., 1896-12-09
MATTER OF FORM
THE NEW YORK STOCK MARKET
TO A CONSIDERABLE DECREE
PERFUNCTORY.
WITHIN A MARROW RANGE.
EARLY DECLINES FOLLOWED BY A
RALLY AND THEN By STAG
NATION.
NET CHANGES GENERALLY LOSSES.
Railway Bond Issues Irregular with
the Trend of Prices to Il Lower
Level
NET CHANGES GENERALLY LOSSES

NEW YORK, Dec. S.-The stock market to-
day was to considerable extent perfunctory
Dealings were materially lighter than for
a long time past and the professionals, while
inclined to the bear side, displayed a viciIlat-
ing temper. The result was a poorly dis
tributed and irregular speculation within a
narrow range. Dealings for foreign account
while moderate in volume were mainly for
the long account the presidents message
apparently being favorably received in Lon
don. The local traders however made their
usual attacks upon the specialties for effect
upon prices generally. The result achieved,
however, barely justified even the moderate
energy expended, owing to the continued
disinclination of holders of stocks to part
with their property. Prices soon rallied after
early declines, but the market while excep-
tlonafly dull, again became heavy and un-
settled in tone. A drive was made at Chi
cago Gas on the reported increasing ag-
gressiveness of the opposition interests, caus-
ing decline of 1B per cent in the stock.
The general market was sympathetically af-
fected to fractional extent. Sugar was
depressed slightly on unfayorable trade adj
vices and predictions of impending hostile
legislation. At the low points some cover
ing purchases and moderate buying for long
accounts were noted, in connection with an
easier market for foreign exchange Actual
sterling figures were reduced slightly and
posted quotations were lowered nc by one
prominent drawer.
The market bordered on actuaI stapna
ton after the first hour and the range of
fluctuations was Insignificant in most in
stances, aside from Lake Shore which rose
per cent on light transactions Consolidated
Gas was particularly heavy and yielded 2A
per cent to 15S, rallying subsequently to 159
The declaration of the usual quarterly div
idend OF 11e per cent on Manhattan and the
recommendation by the Western Union ex-
ecut1ve committee Of the regular disburse-
ment tomorrow by the full board failed TO
quotably affect the prices Of the respective
stocks beyond light fraction, but exerted
a steadying influence upon the general list.
American Spirits preferred fell 112 per cent
on a reported hitch in the effort now making
at Chicago toward an agreement between the
leadlng interests in the trade A light rally
followed the publication Of a denial of the
rumor st. Paul & Omaha common made
further rise of 1A per cent to 1875 the
alleged prospect of the declaration of div
idend. The closing was steady with the net
changes generally losses.
The railway bond market exhibited ir-
regularity, especially in the usually neg
lected issues which were widely dealt in,
but the trend of prices was downward The
losses in the active bonds were unimportant.
The sales were 81, $4,000. The principal ad-
ern seconds, A; ditto thirds, 21b Louisville,
New Albany frsts, 2%; Michigan Central
consol 5s, 2; American Cotton, 11a Ontario
& Western consol 5s IA and Cleveland e
& Toledo frsts, East Tennessee frsts, Flint
& Pere Marquette 6s, Northern Pacific consol
5s and Utah Northern extension rs, / per
cent. The principal declines were: Missouri
Pacific consol IS, 8; Nashville & Chattanooga
ccnsol 5s, 212; Toledo, Peoria & Western
frsts, 2, and Reading Sds incomes, 1as per
cent.
The total sales of stocks today were 123, ,778
shares, including: Consolidated Gas, $780,
Sugar, 20, 600; Burlington, II. 100; Chicago Gas,
500; L. & N, 4,7O0; Manhattan, $500; Omaha,
3,1O0; Reading, $500; St. Paul, 13 600; Union
Pacific, $500; Western Union, $500.
The following were the fluctuations of the
leading railway and industrial shares, fur
nished by C. H. F. Smith & Co., members
New York stock exchange and Chicago board