Omaha daily bee., 1896-12-20
STOCKS AND BONDS.
Cuban Situation Makes an Active Mar
ket with Tnnn EeNerish.


NEW YORK. Dec. 19.-The stock market today
was comparatively active and the tone feverish.
The slump in prices yesterday afternoon on the
news of the decision of the senate committee
on foreign relations to report favorably to that
body Senator Cameron's Cuban resolutions led
the financial community to expect a decidedly
unfavorabe sympathetic effect OF foreign Sc
curities in general. and American stocks and
bonds in London in particular. Accordingly. con-
siderable nervousness felt previous to the
opening regarding the probable course of today $
market
Cablcd advices of temperate discussion of the
Cuban question abroad and higher prices for
ls per cent in the active internationally listed
stocks, changed the speculative temper, and at
the opening covering was begun on an extensive
final prices. Buying for London account acccl-
Grated the advance. and the international ar
bitrage firms were also reported I'm the market,
The improvements scored ranged from 1 to 2iA
per cent in the principal shares. ..-
After the initial dealings for realizing profits
n bear drive at Manhattan railway, In connec-
a reaction Manhattan broke 2lg per cent to So.
but later recovered TO Sh The subsequent
movement m. Of m the stock was erratIc. but it left
The advance in the general market was soon
resumed, and the best prices of the day We're
reached in many instances a special inquiry be-
ing noted for Sugar, st. Paul and Burling ton
Around II o'clock the market quieted down and
ing, decrease OF IS 600, 900 In the loans OF the
associated banks from last weeks figures exert
ing some unfavorable influence The market
closed Irregular at general sharp net decline
All ordinary topics and considerations bearing
upon the stock market in the week were over
shadowed near the close by the action Of the
senate foreign relations committee on Friday In
deciding to recommend senator Cameron's Cuban
resolution. Previously the bears had made occa-
sonal drives at the market on Washington news,
but the financial community at large was re-
laNing Its attention to the debates In congress,
and In fact, had begun TO take only "A per
functory Interest In the matter. Wall street had
made the mistake OF figuring from Its own
standpoint the assumed duty of congress on the
Cuban question. and believed that the danger
OF friction with Spain had been minimized. Ii
no more serious results than a few impassioned,
sentimental outpourings in the senate and house.
simultaneously, however with the receipt OF the
news the market slumped In all directions,
wholesale liquidation took place, and the right
and LETT stop loss orders were reached accelerat-
Ing the loss.
Meanwhile the bears improved to the utmost
the opportunity to depress values. The more
important losses ranged from TO per cent In
the active list, with the grangers and specialtes
the chief sufferers Trading In the early part Of
the week was characterized by decided weakness
especial pressure being brought to bear
against several properties and especially Bur
lington. This stock was influenced by reports
or probable pending scaling .Of dividends. The
Gould stocks were peTsistently attacked. and
liquidation on a large scale reported In
the group. Manhattan was affected by continued
rumors OF important unfayoTable developments.
The stocks OF the Iron and steel companies sold
on on tho depression In these industries, reflected
In the reported dissolution OF the steel rail
combination and reduction In the price OF rails.
The Rubber shares. exceptionally displayed con-
siderable strength on gossip suggesting the prob