New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-16
CLOSING PRICES OF BOSTON STOCKS.
Tuesday. September Is. = p. m.


Doubtless the course of prices in the stock
market to-day was perplexing to people unac-
quainted with the ways of the great professional
element on the Stock Exchange and to many
the numerous net declines may have appeared
altogether unnatural, in view of the tremendous
sound money victory in Maine The :tock mar
ket it must be remembered. is at present ex-
trenely narrow. There is little outside buying
and professional traders are in almost complete
control If there had been any outside interest
in to-days market an advance would unooup'-
eddy have been made, but there was none ana
traders started in to sell the market down soon
after the opening. evidently for the sole purpose
of acquiring stocks to sell on the advance which
will precede and follow the election OF Mr.. Nc
Kinley. The victory in Maine was so emphatic
that doubt about the overwhelming success OF
Mckinley and Hobart in November disappeared
in the Street. and probably every professional
trader in the Stock Exchange community shaped
his operations in to-day's market for the profits
which will be made on future advances. The
emphatic answer which Maine gave to repudia-
ton and dishonesty is regarded as safe index
to the result of the National election. Profess
sional traders are quick to realize opportunities
and the movement of prices to-day reflects the
traders view that to acquire stocks now means
thought yesterday that the Maine election had
been discounted sufficiently in the recent ad-
vance but no man in the Street expected such
a landslide as the reports from Maine to-day
showed, and the only thing which prevented an
upward movement the lack Of outside sup
port and the ability of the professional element
TO sell the market down in expectation OF profits
from coming political developments
While stocks declined the Street was not In
the bearish mood which generally accompanies
sagging tendency in values. Every trader.
banker and broker in the financial community
looked at the Maine election as the handwriting
on the wall for Mr.. Bryan, and existing un-
favorable features in the business situation were
relegated from consideration. Opening prices
for stocks were generally 12Q1 per cent above
Yesterdays closing, due to a higher level in
London, which led to considerable foreign BUY
ing at the start but this turned TO selling when
the local professional element made determined
efforts to depress prices Net losses extended
from fractions TO above > per cent in the active
list the chief sufferer being American ToDacco,
which lost 27s per cent. its decline beng as
sisted by q renewal OF the tobacco war between
Eastern and Western interests. Jersey central,
Chicago Gas Rock Island. Burlington and Louis
VILE and Nashville lost 141B per cent Else
where in the active stocks net declines were from
u TO "a per cent The foreign exchange market
for sterling was a trife easier but there was
no marked change in general conditions In the
exchange market or in the money market he
ports from abroad indicated gold shipments
from Paris this week AS affecting future trafnc
earnings in the West, II is interesting to note
that the Chcago-St. Paul lines have settled
their differences, thus ending the grleVous rate
war in that part OF the country.
Closing prices for a number OF active STOCKS
compared with the final figures OF yesterday
as follows: