New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-10-10

Friday. October 9-p. m.


Professional trading carried prices in the
stock market lower to-day but declines were
not brought about By any adverse developments
or by any liquidation from investment interests.
The bulk OF the business was done in seven
stocks. and in Sugar Refining alone over 1000
shares changed hands. the break in the price Of
this stock contributing in great part TO the
weakness in the rest OF the list. The stock Is
now not far from par. and IL seems that the
reports Of competition with the big Trust are
being utilized by the sugar Manipulators TO
force lower value for the stock: but for those
who are not favored with the confidence OF the
inside element in Sugar Refining short selling
on the expectation Of a big decline In value Is
a risky venture. The weakness in the foreign
exchange market and tirv engagement for III
port here Of over s. 900 900 gold caused some
covering OF shorts in the early trading and
higher prices in the first hours OF business. but
the effect Of such favorable influences was ended
with the cessation OF the covering movement,
prices becoming irregular with declining
tendency, which resulted in net losses In the
majority OF active shares. The expectation or
a poor bank statement tomorrow exerted some
influence upon the speculative sentiment. but in
view OF the renewed gold imports the force OF
a poor statement should have been very much
weakened shipments or currency 10 the IN
terror by the banks and through the Sub-Treas-
ury have been larger this week than last and
ii is not likely that the loss has been Offset in
whole by the deposits Of gold from foreign gold
impOrtations
The great sound-money demonstration In Chi
cago had no effect upon stocks. probably be
cause the narrow minded element in control Of
speculation has decided TO remain unaffected by
the bright political outlook for the rest OF the
political camfaign. preferring 10 assume a
pessimistic sentiment in order 10 prevent. II
TO reap It's profits The market is purely pro-
fessiona and its movement Is not an index OF
the raal sentiment in the Street. The financial
community. as a whole Is firmly convinced that
the National election will bring success 10 the
honest money Mckinley ticket and 1t is not
worried about, nor particularly interested In, the
operations Of inconsequental Stock Exchange
traders. There were no net changes Oh I'M
portance. outside OF Sugar Refining, when lost
Ia per cent; Reading. all assessments pad:
IA per cent: General Electric. | per cent, ana
Northwest ! per cent. Manhattan was again
under the influence Of inside manipulation, ad-
vancing 3i2 per cent above us opening put
losing nearly all the gain al the close. American
Tobacco was a strong feature at an advance or
over per cent in the morning. but ike the RESI-
OF the list suffered loss in the afternoon, CLOS
ing at only a slight fractional gain. Last prices
u,ere near the lowest OF the day. Foreign opera
tions were insignificant. Total sales were 1856
79j shares Of which Sugar Refining, American
Tobacco Burlington. ST. Paul Louisville and
Nashville Manhattan and Reading furnished
$50. ~ shares.
compared with the final figures Of yesterday
were as follows