New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-10-26
CLOSING pR,cys OF BOSTON STOCKS.
Monday, October 25-p. n

Monday, October 25-p. m.
To-day's developments In the Union Pacific
foreclosure case and continued agitation over
the Cuban question were the factors which dis
concerted speculative sentiment. The announce
ment that the Attorney General would apply for
q postponement OF theUnion Pacific sale natural
ly gave rise to the belief that the whole matter
would be thrown back on Congress. and the
statement made by the Reorganization Com
mittee that it would oppose an adjournment and
would bid in the property for the full amount
Of the Government claim VAS not effective In
restoring confidence or changing for any length
Of time the downward course OF the stock. The
Reorganization Committee. as the representative
Of the first and third mortgages. has the right
Of course. to pay off the second mortgage held
by the Government. II that IS done the Cow
eminent will receive about SS,OO0.0OO IN add
ton to the sun originally proposed BY the Re-
organization Committee. II the committee Is
willing to pay the full amount OF the Govern,
ment's lien there will be no cause for post
ponement Of the sale. and while in this case
the stockholders may not fare we'll in the
reorsaniza,ion the interests Of the road will be
best served by such action. for otherwise Con-
gress, II seems, Will again b" compelled 10 take
up the question.
Professional traders active to-day In
sending forth their doleful predictions. and they
achieved considerable success in lowering val
ues Very little liquidation Of long stock took
place. however. most Of the selling being for
short account, and while no important commits
sion house buying was revealed shrewd opera
tors continued TO pick up stocks at bargain
prices When the time comes for an advance
II will he found that stocks are In strong hands.
and that people with Keen judgment have not
been frightened out OF the market by gossip
In regard TO war with Spain and other bear
talk
Ten stocks furnished the greater part Of the
days dealings. Union Pacific. Sugar Refining.
Chicago Gas. Bay State Gas. Burlington and St
Paul were the most active and suffered the
widest fluctuations. Burlington and St Paul
were depressed by the uncertainty over the
probable action OF the Supreme Court on the
Nebraska maximum freight law case. Declines
Of from | to per cent were general. and in
Sugar Refining. Consolidated Gas and Union
Pacific larger losses were recorded. Union Pa
cjfc's net loss was ga per cent. The closing
was unsettled. With prices near the lowest or
the day. The foreign exchange market was
higher This rise was due chiefly 10 the rapid
advance in money rates IN LONDON Inc BANK
OF England borrowed money In the open market.
and cable reports indicated a practical
"souecze' On the London money market. The
result Of the dearer money In London upon the
foraien securities markets was depressing. and
nr,ces for American securities were about q
England will doubtless increase The discount
80 on Thursday. and a rise In the German
siSco,Int rae Is probable. a, this centre money
,s almost a drug on the market, and London
"iII doubtless be a heavy borrower here. While
,n,Ls we're weak all day. Government bonds
So .,rone. with the As Of 1929 slightly higher.
80, dealings in al stocks, 400,S20 shares.
uricss for the last sales OF the prnclpal actNc
rs ,c.dav. compared with the final figures
=, esturhay we're as follows;