The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-10-17
run.,nr1rm, mnsrre ouorAr1oNs


hTlb y % NN z
Illinois Central. st Paul ............ @
Kansas 4 Texas. az outh hhlWaJ'.... lob
Lake hero.......l76 south Railway pr. 81.
Louisvillo 4 Nash. 81, Union Paeine....... go
New York Central. 10 IwabSSh pt,..".".. leL
SATURDAY. Oct. 10.
Tho week at the Stock Exchange has boon
marked BY continuous liquidation In securities,
although tho declines in railway and industrial
shares wero larger and moro numerous than the
losses in the bond list Manipulation for tho
fall was evident in several directions. but It
may be doubted that IL would have affected
tho entire speculation had not invest
ors had their confidence somewhat chilled
by the threatening aspect Of Bryanism
in the current municipal canvass. Commission
house business fell of to some extent. but in its
place Ia TO be noted q pretty steady accumula-
ton Of stocks by foreign houses. These pur-
chases by European operators helped. in con-
junction with a good supply Of commercial bills,
to cause weakness In the foreign exchange mar
ket, which, however, recovered subsequently
because Of the recession In money rates In this
city and the raising Of tho minimum discount
rates OF the Bank Of England and the Imperial
Bank OF Germany.
The easier tone in the local money market was
duo to the arrival of $4,000. 900 gold from
abroad. This makes the total amount received
since Sept. 80. 81 900. o00, and 1t is known that
there is still 81 800. 900 in transit. The weekly
bank statement published to-day failed to re-
fleet the weeks reinforcements of specie. 1t un-
doubtedly was made up on rising averages, and
the cash holdings in the Clearing House Associ-
alton are undoubtedly larger than tho statement
Of averages shows. The contraction in loans
represents, to q considerable extent, tho
liquidation Of speculative accounts in the So
rt,pftiaa ~ - nta h,,t hrphAra nav th.k thnsn 10,
also been some voluntary paying of Of loans by
out-of.town borrowers. The frmnoss with which
the foreign exchanges closed suggests that there
may not DO immediate large importations of
gold. The continued heavy merchandise balance
favoring this country is likely. however. to give
American bankers considerable power to make
drafts, whenever needed, upon tho foreign
stores of bullion.
or tho speculative movements OF the week
that in Chicago Gas was the most interesting.
After enormous dealings, however. and amaIi-
mum break of over 8 y cent. q renewal Of inside
purchases rallied tho stock and left It IL y
cent. higher than on last Saturday. 1t 10 as
serted with considerable positiveness in some
usually woll.informed quarters that the now
interest which has acquired the principal OPP
position companies in tho city Of Chicago
has already made an agreement with tho old-es-
~ -
atssui"'ion Vi eonape'i''oh' Inc oFeeh euear
Refining this week was ascribed to unfavorable
trade reports and a discountlng OF opposition
next spring. Some market observers, however,
regard the movement In this stock ~ Q collateral
part of the speculation in Chicago Gas.
Reports of the mercantile agencies continue
generally favorable. The breaking Of the pro-
iohEeu urouknt ~ Inc "ess hes improved the
esri'ui'ur" s''ua'ioh' rFiceo OIL commodities
~ nnoS' instances remain upon u sa'isiac1ory
oasiS, Win INC IRON anu seeei industries c.
peciaii' strong ana act,e' r'1iiroaa earnings
arc o only iI-s cent larger then a year ago.
out they siishtiy exceed inc returns TOT inc cor
responding porioa OF iesS'e hien."ater marx IN
inc country prosperity. a etrikins instance In
rAiiroAA iInproVeneh' 10 lurnlshoa oy tne oro.
eoh improvement. oohpA"'' "n'on IN spi'o
inc nuoo'uohce oi ousihes U u hionuike
reeiohS' earned Si@o''oo he'in oep'enoer' anu
VIII PROBABLY sho" tori Jus nscai year . per cent
earned on All Glasses OF its STOCK uhoe. inc ro-
organization. Inc aceiaratoh OF oiVioenas
upon Sorfoik ana western preferred and Mo
drande ana " estern preferred were among tho
encourae1hH incidents OF tne week.
iooay STOCK market WAS mario" ana iefeeiy
IN 'he nAnas OF the professional eioment a as
poei'ioh' 10 RAINY was 'nu'cetoo throughout inc
mt anu IL oouotiess Wouiu nave gone tufther
oio not mere e3iSt ieeiins or dreaa that conn
oence might DC impaired oy an unfortunate out
come OF inc november eiecuon IN ureater Ne"
10TH. wan street ehpecte an eAriJ ana favor
able decision by tho Uhiteo states supreme
Court in the Nebraska Maximum Rate law case.
and tho poStponement by the Court OF the hear
ing In the Joint Traffic Association case posi-
lively assures the existence Of that organization
for several months at least
As compared with tho hnal prices of last Sat
urday the maturity NJ atocka ara Io,xar TIL.
mora jmportant nat dnclins. p In Am.rio.n
Sugar Refining slo q cent American Tobacco
AZ. Ran..s ,,d rra~a, p-as-.a .na N.,.,.,
Isad a Zach. InrIsv,il. ava N..hrr,. OF,
nI.- p-.---
=. 1870 '
' 80
Wv Missouri i"oiao' ~e e"ch' A'chisoh pro