Omaha daily bee., 1897-07-03
STOCKS AND bonds.
DuIIness of Midsummer settles ON
the MARKET,

NEW YORK, July "a vcritable midsummer
dizziness settled upon the market for securities
today and n further step was taken toward the
staunant condition to which the market has been
coming for two days past, There was no fea-
turc of significance or Importance during the
day, unless the motto of the hypochondriacs De
adopted that the absence Of all symptoms must
its.lt be a symptom. Dealings were very much
smaller than yesterday or for many days past
variations were small ana unimportant and n"
animation was manifest at any point in the
market. The prospect of only halI a DAY OF
trading tomorrow, followed 10y "A double holt
day, loubtless had its effect in curtdiling oper-
atoms and discouraging ventures upon new
operations. liut this was not alone sufficient
to account for the markets conspicuous loss of
tone and a%pathcttc condition. The heavy liqui-
dation of Monday and Tuesday was undoubt-
eddy an Indication of a widespread conviction
that the upward movement had reached the
limits of safety for the present, anF today's
market showed even a more marked disposition
than yesterdays to wait for an adjustment to
the new conditions. The waiting and the semi
stagnatlon were accompanied by quite "A marked
frmness of tone in nearly all the leading stocks.
81 PAM continued the leader of the market in
point of activity and was firm and strong, com
paratively, in spite of selling of the stock for
London account. This stock has been gaining On
burlington all the week and today overlook anu
crossed it, closing above it at a small net gain,
while Burlington suffered a small net loss. This
was in consequence of tile continuation Of the
movement on the part Of the dealers to transfer
their holdings from Burlington into st. Paul.
Most of the business Of the day was in the
first hour of trading as a result of orders ac-
Cumulated over night. The sales of all stocks
Tor the day lpll below lNU,NNp shares. -Four
seventies OF this amounts must be credited to st.
Paul, Sugar. Burlington and Chicago Gas. None
OF the leading stocks ranged as widely as a
point. except Sugar lana the leading industrial
stocks and some of tho coalers. Leather pre-
ferred rose n point on reports OF n plan to re-
fund the duty on hides. which are re-eXported
as leather. The small net changes are divided
between gains and losses in the prominent
stocks. Rio Grande Western rose a point. and
the preferred stock IL per cent without any news
to account for ii. The bonds of this company
We're also active and strong. Spirits preferred
fell off 1& per cent. General market conditions
remain unc,a ngeE The narrow movements in
today's market we're in "a large extent due to
professional manipulation.
The bond market developed a fair degree Of
in "A few instances. where special Influences
operated. business was generally centered in the
leading mortgages. but it is worthy Of note
that no transactions We're registered in Northern
Pacific IS, which usually absorb considerable
dealings. The aggregate sales We're 81, 42i 600.
Governments were steady on light dealings, ag-
grcgating ] 800.
The Evening Posts London financial cable
gram says: The disturbances in India and the
proceedings before the South African commits
sion depressed all the stock markets here today
except American rails, whicI were firm in sym
patty with the rise in New York. but there
is practically no buying here at present. At
the moment the professional dealers in Americans
of the public coming in, but the public them
selves are utterly apathetic. The Paris and Der
lin markets We're dull
The following were the closing quotations on
the lending stocks Of the New York exchange
today: