The herald., 1897-04-18
ON CHANGE
What Was Done Yesterday on Wall
Street

NEW YORK, April 1.-THE tendency of
prices downward today was only interrupt
ed for brief period. though no rallies
of any Importance occurred. The market
was dull and inactive being a short trad
ing day and coming after a holiday. The
fact that foreign exchanges were closed
and would remain SO until Tuesday also
had its effect in curtailng operations The
market was narrow and the small deal
irgs wholly professional. and in the spe-
calties largely manipulative. The inter-
national stocks continued to manifest
heaviness, Notwithstanding the closing of
the London exchange dealers here rely
ing on their own private advices as to the
war prospects abroad, and some sales of
these stocks being made also for London
account The rise in the price of wheat was
interpreted on the stock exchange as pres
aging belligerent attitude in the dispute
of Western Europe, and this was used as
bear argument, the. price of railroads
as has been the case with the war news on
several occasions lately. The grangers
were exceptions and Burlington advanced
a small fraction at one time today and suf-
fered a smaller decline than the old gran
gers. st. Paul suffered from the showing
OF loss of ss6, 343 in gross earnings for the
second week in April. and Northwest and
Omaha manifested weakness common
to the other Vanderbilt stocks. There was
a falling off in activity in sugar and
very narrow fiuctuation in price. Chicago
gas continued to be the center of activity
in the market. but its fluctuations were
without significance. other than profes-.
sional the price receding in the face of
buying by interests that have uniformly
been credited with acting for insiders
Northern Pacific enjoyed a period of gain
at the opening. but afterwards succumbed
point sustaining a net loss on the day.
Losses of the day reached a point in the
case of tobacco and Chicago gas, Is in New
York Central Y in Northwest. Susque-
hanna and Western preferred and Tennes-
see Coal and Iron. and Us in Rock Island.
Omaha and st. Paul. Adams express rose
11a in the final dealings on light purchases:
The market for stocks has been dull
during the whole week and the weeks
transactions have resulted in decline In
the price of railroad stocks reaching an
average of to per cent. and industrial
stocks of to 2ls points. Burlington was an
exception in the railroad list and closes
the week higher than last Saturday night.
The threatening aspect of foreign affairs
on the slump in the wheat market was
rather in favor of grangers. Although the
general list of stocks and bonds are un-
favorable to war news abroad, on the
ground that all property would suffer in
value from the resulting disorganiZation OF
credits it is believed generally in Wall
street that the value of prosperity in Amer.
lea would increase ultimately in case OF
war abroad. The revelations that have
been made of fraudulent transactions by
bogus brokers and of the astounding di-
mensions of business done by sure-thing
advertisers has been a small depressing
influence on business so far as outside in
quiry is concerned and the stock exchange
idated exchange are earnestly cooper
ating with the federal authorities to put
stop to the nefarious business in the inter-
est of legitimate speculation. These infiu-
ences left the market narrow and entirely
in the hands of professionals who take ad-
vantage of it to manipulate one or two
Call loans have been made at 1A during
tA> -sA>h< usf>Aoh IL n maui rocord- The ak