The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-09-14
CHICAGO CLOSING QUOTATIONS.
LATEST LONDON ouorArroNa
MONDAY. Sept. ID.

The beginning of tho fortnightly settlement
on the London Stock Exchange to-day disclosed
the existence of a short interest in American SO.
curities that apparently alarmed some Of those
who wers responsible for 1t. According to ca
bic adviccs stocks were scarce for delivery; but
the best evidence that English operators are
beginning to lose confdepcc in the views they
have entertained and acted upon was found
in extensive purchases in this market for
London account. Those purchases, according
to tho most trustworthy information. aggre-
gated about 10000 shares. which Is the largest
amount that foreign arbitrage houses have
bought in this market on any one day for many
weeks past. The heaviest purchases were OF st.
Paul, Louisville and Nashville. Union Pacific.
and Southern Railway issues. Tho interest
rates for carrying stocks through the now ac-
count were moderate. being 3a3ia y cent.
The appearance of London AZ an extensive
buyer was tho most important feature OF the
market. 1t did not, however. control tho course
OF prices because of extensive local selling to
realize profits, which was followed by a vigor.
GUS attack upon the market by tho professional
element. This demonstration against prices
was temporarily successful. because 1t COM
pelled the execution Of n good many stop orders
which had been given by lightly marRined
traders and by those who have bought stocks
upon the unsecured profits accruing on
previous purchases. The market 10 unquestion-
ABLY healthier for the wedding ont or reduction
OF this highly speculative element. At tho OK
IRENE declines a fair amount of good buying
was diScernible. and In consequence tho list
showed a disposition to rally that was most pro-
nounced In the final trading. The attempts to
deprcss prices wero attended by some very in
t%eresting but entirely unsubstantiated rumors.
Among them was a report of impending friction
hal waan the T1nitad Gtatau oaJ C,,l,, a,J Iia
trcssing rumors as to the extent OF yellow fever
at southern points and the probability Of Its
spreading. As a matter OF fact, advices from
tho South regarding the appearance of yellow
fever at q few points wero more reassuring than
at any time since the epidemic made It's appear
ance. Regarding the message that our now
diplomatic representative takes to Madrid It 10
we'll understood that his mission Is one OF peace.
The news of the day, other than the extensive
repurchases Of securities by London. consisted
of a W market for sterling exchange and an
excellent foreign trade statement for August.
The statistics compiled by the Treasury Depart
mont show that the exports Of four principal
products of tho United States for August were
moro than 81 800. 900 larger than for the same
month of last year. The virtual settlement Of
the bituminous coal miners strike was another
favorable development. A few stocks were ex-
ceptionaily strong throughout, namely, Mis-
souri,. Kansas and Texas preferred, Omaha
common. Brooklyn Rapid Transit, and North
western. In tho late dealings Jersey Central
and Reading issues showed a decided tendency
To advance. The most pronounced effects OF tho
reaction arc 10 found in Atchison preferred,
American Tobacco. Rock Island. Burlington aud
st. Paul, Manhattan Railway, Missouri Pacific,
National Lead, and "a number of the less ac-
live shares. Tho revival OF activity In
Brooklyn Rapid Transit at advancing nricaa