The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-04-23
Financial.
A Pessimistic Mood Governed Dealers In
Stocks Yesterday.

| A Pessimistic Mood Governed Dealers In
Stocks Yesterday.
New York, April 22.-Only two stocks
were dealt in to-day to the extent of
1O,O 900 shares, namely, New Jersey Cen
trail and Western Union. The local ex
change seemed to have lost It's docile
faith in London's superior knowledge
of the value of American securities,
which it was so ready to acknowledge
yesterday after it's costly experience in
| giving way too far to timidity on Mon
day. The New York price refused to
conform to the London quotation, which
had risen after the London opening to
above the New York closing.
New York prices, on the contrary. OBJ
stinately persisted at a lower level than
the parity with London. London prices
as consequence fell off in the final
dealings, seeing the persistent pessim-
ism of the New York market. This
pessimistic mood of the local dealers
discouraged London from buying in
this market even with higher range
prevailing In their own market. Ar
bitrage operations were Insignificant.
The close in London showed the prices
of Americans still above the New York
parity, in spite of declines in sympa
thy with New York.
The stock market as obstinately re-
fused to respond to the weakness in
wheat. Prices sagged all day and bus
mess was almost stagnant, minutes
passing without a single quotation be-
ing recorded The market was left en-
i f,,
fuenced by the fact that large opera
tor, recently a bear, but who turned
buyer yesterday, Joined the short side
again to-day.
The reports and operations regarding
the war were very conflicting to-day.
There Is a general disposition to buy
on belief in the success of the Turk on
the ground that Turkish victory would
clad to intervention of the powers and
the speedy ending of the war. The alb
sence of information from the Turkish
forces and the confident claims put
forth by the Greeks together with the
news that g. Russian fleet sought to
pass through the Dardanelles and that
Turkey feared aggression from Bulga-
ria confused the calculations of stock
dealers and gave a pause to the trad
ing.
The money market continued in a
lethargic condition, and inquirers re-
port that money brokers find new bust
ness practically non-existent, thus re-
flecting the general dullness of all bus
mess The same state of things is re-
ported from other centers and confirms
the dealers in shares in their attitude
of inactivity The only feature of any
interest in the days market was the
movement in the coalers, which made
an appearance of aggressive strength.
The loan rate for the stocks indicat-
ed that the demand came from the
short interest, who were the victims of
some professional manoeuvering. The
movements were somewhat erratic, New
Jersey Central ranging over 25s points
and closing with a net gain of rs Del
aware and Hudson moved in sympathy,
the former closing unchanged and the
latter with a net loss. Western Union
was weak on published reports of an
improvement method of biography and
on rumors of decreased earnings and
suffered at a net loss of IL. Union
Pacific was in good demand and gained
q on the day, closing at 81. The
American Spirits shares developed
weakness in the closing dealings, the
common stock losing Tx, and the prefer
red per cent. Movements otherwise
were narrow and without interest. The
closing was weak with a general de-
cline of fraction.
The railway bond market ruled quiet
but with firm undertone. Fluctua-
tons in the principal issues were UNI
usually narrow and there was a mark
ed contraction in the volume of trad
ing in the high grade lines. The ex-
IRENE changes were Cincinnati, San
dusky and Cleveland firsts. which rose
6. and Toledo, Peoria and Western
irsts, which fell per cent. The sales
were 1926, 900.
! Governments were slightly easier or
quoted prices, there being no transac-
tons at the board.
Following are the closing prices re-
ported by Prince & Whitley, bankers
and brokers, 16 Broadway, New York
| and Is Center street New Haven: