Omaha daily bee., 1896-12-13
STOCKS AND BONDS.
Security Market PhenomcnnlIy Dull
IhrOughOut tho Scsainm.

NEW YORK, Dec. l2.-TOday's stock market
was phenomenally dull some hesitancy was dis
cernble even the part of the professional
dealers and values sagged slightly very mod
crate pressure. The arbtraGe operations were re-
stricted to few hundred shares. The limited
dealings were confined to the active list and the
fluctuations lacked Importance, except in Man
haitian. Rock Island and Reading. the last men
toned being sold on the complications which are
said to be likely to arise In defining the legality
OF the reorganization. Rubber. in the regular
stagnation, was conspicuous by lc drop ana
a subsequent partial rally. At the low point
supporting orders and covering Influenced gem
oral recovery in which the specalties were the
most prominent. The closing was firm at slight
net changes, either way. Railway bonds were
quiet, but firm. The sales were S5,2 00O The inn
portant advances ranged from III TO per cent.
tho last in Kings County Elevated frsts.
The market for the week has al frequent in
terpals been characterized hy spells of dulness
taxing the power OF description. The disposition
OF nactiOn has been more clearly manifest as
the week progressed but while prices have moved
irregularly within n narrow range, any serious
break has been averted through the extreme
ease In money. Investors. believing In an eventual
decided clearing up OF the general business and
tercst in the railway bond market, but the heavy
spectators and their following are waiting until
TO the possibilities OF action at Washington
on the Cuban question the Indebtedness of the
Pacific railroads to the government and other
important topics Discussion OF the tarff prob
abilities and intmations OF aggressive steps re-
activity in general trade well as in Wall
street, At the same time the plethora OF loan
able funds, favorable cotton ana winter wheat
crop estimates and expectation of more encourage
ing comparisons In railway traffic returns before
many weeks, account for the lack OF pressure
OF long stocks in the face OF bear raids. The
result OF this condition has been a sluggish
market, relieved at times by spasmOdic bursts
OF comparative activity, due 10 drives at the
high-priced stocks and specialties and subsequent
covering purchases.
London's operations were moderate In extent
and both sides OF the market, with a slight
preponderance In selling orders. There has been
no abatement, however. OF the foreign demand
for investment bonds, The market was relieved
from absolute stagnatiOn by nrmness succeeding
the declaration OF the regular quarterly dividends
OF Sugar, Western Union and Manhattan while
the bears made bold play against the Gas
shares based on the popular agitation for lower
prices for the product. Consolidated Gas was one
OF the few stocks that moved with spirit and
covered an extremely wide range closing at a
net loss or rs per cent Some Of the specialties
affected by the actual expected dissOu-
tions OF trade pools, including the steel billet
trust, which has virtually been dishanded. The
passing OF the dividend on Illinois Steel was set
down 10 this condition OF affairs. Reading was
prominent In the trnding In the last half OF tae
week and sagged sharply on the unexpected issue
raised 10 the legality Of certain steps In
the reorganization proceedings Long Island
dropped per cent 10 AZ on unfavornhle r'u'-~s
the financial and physical condition
of the property A rally 70 " followed GA al