The age-herald., 1897-09-15
In Wall Street.

New York, Sept 14-Today's opera tfons have resulted in another substan- tial advance in the level of prices on the stock exchange. There was some talk during the morning of the existence of a powerful bear pool, which was prepar- ed for extensive operations for a decline. This supposed existence of a combina- tion, coupled with the fact that London prices came lower this morning, appar- ently because of doubts raised by yes- terday's reaction here, led to the early success of the bear contingent The arguments they used were the same as yesterday, the likelihood of entangle- ment over Hihe Cuban question, the dan- ger of yellow fever and in addition the damage done by the storm on the Gulf of Mexico. The latter showed its effect on Kansas City. Pittsburg and Gulf St. Paul and Burlington were driven bslow par and all the Changers declined an average of about F, while Louisville Southern preferred and Kansas and Texas preferred were off nearly point, the latter on profit taking, which con- tinued all day. The whole list recedsd fraction Later came denials from Washington on authority as weighty as the first assertion that no warlilke meas ures were projected on the Cuban qu:s- tion. The first reports of the heavy damage done by the gulf storm were also denied. At the same time the mark ed weakness in the exchange market came to notice actual rates for both long and short sterling and for cables receding % ito h per cent. London was also buying quite freely of favorlte stocks. The indications of prospec- tive increase of the balance of the trade in our favor led to expressions by foreign bankers that a heavy gold import move-> ment was soon likely to commence. The market was strengthened by the harden ing tendency of the money market, call loans rarely going below per cent. The general news bearing on the business outlook continued firm. The gold im- ports continue a favorable method of turning the tide in favor of the bulls. At the same time it was reported from Washington that the differences be- tween the government and the syndicate to purchase the Union Pacific had been removed and the approval would be made at the cabinet meeting in the af- tarnoonA It was on this account that the Union Pacific became so prominent in the afternoon rise, it's extreme rise being 33s and it's net gain 2%. Northwest and Omaha were also notably strong and led to buying movement as on former occasions in all the Vanderbilt stocks. St. Paul recovered from the early de- pression, advancing IA. Northern Pa- ciflc preferred rose points. The mar lHet reacted to some extent before the close and this coupled with tlls early decline, makes the net gains considera- ply smaller than the extreme adva nces.
 The price of bonds fell off at the open ing, but the market became stronger later. Total sales, s3,100,000.
 The total sales of stocks today were 4S4,000 shares, including Atchison pre-. ferre,d, S,550; Chesapeake and Ohio, 10,- 695; Canada Southern, 12,2S0; Burlington, 20,070; Louisville and Nashville, 1,4S0; Manhattan, S,355; M, K. and T. prefer red, H,440; New York Central, II APO; Missouri Pacific, 5,175; de preferred, 23,- 20S; Northwestern. 4,450; Reading, 9,130; Rock Island, 12627; St. Paul, 52,155; St. Paul and Omaha 14,400; Union Pacific, 7,16S; Wheeling and Lake Erie, 9,234; American Spirits preferred, 7,65O; Amer can Tobacco preferred, 13,350; Chicago Gas 7,080; F Consolidated Gas, S.7OO: Gen eral Electric, 16,640 La Clede Gas. 5.40O: Sugar, 21 300; Tennessee Coal and Iron. 67S5; Western Union, 6,S48; Chicago Great Western, 6,020.
 Money on call, firm at 11h@2 per can't: Hast loan at 2; closed 11s@2 per cent.
 Prime mercantile paper, S%@4h per cent.
 Sterling exchange weak, with actual