The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-10-23
CLOSING QUOTATIONS.
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LATEST LONDON QUOTATIONS.


FRIDAY, Oct. %.
Like Its immediate predecessors, to.day's
stock market was narrow and largely profes.
sional. In the early dealings Room traders and
operators of similar calibrc made a demonstra.
ton against prices that was successful in
lowering the market for tho usually active
stocks about n point below the final
figures of yesterday. Some capital was
made Of the alleged opposition to the
Union Pacific reorganization syndicate, but
more importance was attached to rumors OF i'm
pending friction between this country and Spain
regarding Cuba. There was no pressure to sell
stocks, nor any indications Of liquidation. 1t is
to bo noted, however. that there was
moderate profit taking by traders who
bought at the recent decline. The character
Of the selling was pretty plainly shown by
tho rally that took place during the afternoon.
In q number of cases the ground lost early in the
day was recovered, and the net declines that
were sustained were unimportant The heaviest
transactions were again in Chicago Gas and
Sugar Refining. The market for the last was
fairly we'll sustained, on expectations Of u de-
cision by the Treasury Department that the
Netherlands pay an export bounty upon sugar
shipped out of that country, and that in conse
quence n countervailing duty should be levied
here. Such q decision would obviously be
OF advantage to the domestic refining industry.
Chicago Gas scored n net advance Of moro than
a point on indications that either the Peoples
Gas Light Company, in which the combined
companies are being consolidated, or capitalists
largely interested in 1t, are about to secure con.
troll Of the Universal and Mutual companies.
practically upon their own terms. The only
other stocks that received noteworthy attention
were st. Paul, c., b. and Quincy. Union Pacific.
and Missouri Pacific, and all of them closed only
q shade lower than yesterday.
- >r,nt r-ao ranlo - l..zt. A.. -.
Union Pacific in connection with the publica.
tion this morning Of alleged details of the for
nation Of a syndicate to outbid the Reorganiza.
ton Committee at the foreclosure sales early
next month. The publication referred to
has made possible a complete exposure
CT the pretences and motives of tho
newspapers and capitalists who have recently
posed as champions and would.be conservers of
the interest Of the United States in the Union
Pacific system. The story OF this extraordinary
combination Of c%upidity, credulity, and at
tempted blackmail is printed in another
column, and makes one OF the Msst in
teresting chapters in the history of Wall
street. The two or three capitalists who in
various ways gave an appearance Of strength
to the movement have now to elect whether
they wish to be regarded as fools or knavcs. At
the moment they seem inclined to class them
selves under the former category, but the pub
lie. with all the facts available laid before it,
can reasonably class them under both heads.
For even il it is granted that they were duped
by an inscriptions newspaper and its specula-
tive employees into the position in which they
find themselves. tho fact remains that they
would not have committed themselves as far as
they did had they not been actuated by MERGE
nary motives.
Final sales compare with those of yesterday