The daily morning journal and courier., 1897-09-15
Y Y Etuamctal.
Another Substantial Advance in Stocks
 Took Place YesterdaY.

HOOK Iiace testerday.
 l New York, Sept. H.--To- days opera tions 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 exist ence of powerful bear pool which was prepared for extensive operations for a decline. The supposed prestige of this combination coupled with the fact that London prices came lower this morning, apparently because of doubts raised by yesterdays reaction here, led to the early success of the bear con- tingent.
 The arguments they used were the same as those of yesterday, the likeli- hood of entanglement over the Cuban question, the danger of yellow fever and in addition the damage done by storm in the Gulf of Mexico. The lat ter showed it's special effect on Kansas City, Plttsburg and Gulf. St. Paul and Burlington were driven below par and N~4t tAaS S Sloh5SA0 dGSlilItu dll dNtld6G of about F, while Louisville, Southern preferred and Kansas and Texas pre- ferred were off nearly a point the lat ter on profit taking which continued all day.
 The whole list receded a fraction. Later came denals from Washington on authority quite as weighty as the first assertion that no warlike meas ures were projected on the Cuban ques- ton. The first reports of heavy dam- age by the gulf storm were also denied. At the same time the marked weakness in the exchange market came into mo- tice, actual rates for both long and short sterling and for cables receding as to F cent. London was also buying quite freely of favorite stocks
 The official reports of wheat's short age in France and Italy added to the assurance of continued heavy exports of grain to be paid for. The advance in cotton at Liverpool tended to the same end. These indications of prosperous increase in the balance of trade in our favor led to expressions by foreign bankers that a heavy gold import movement was certain to result and was likely soon to commence
 The evidence of the exchange mark ct on this point was strengthened by the hardening tendency of the money market, call loans commanding as high as per cent. and only a few fractional loans being made below per cent. Money continued also to move very freely to the interior. As the general news bearing on the business outlook all continues favorable the prospect of gold imports proved an available means to turn 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 syndi- cate organized to purchase the Union Pacific had been arranged and that approval would be given at the cabi- net meeting in the afternoon
 It was on this account that Union Pacific became so prominent In the af- ternoon rise. Its extreme advance was 93s and it's net gain 2a. Northwest and Omaha were also notably strong and led to buying movement as on former occasions, in all the Vanderbilt stocks St. Paul also recovered from the early depression, advancing 1A. Northern Paclac preferred rose points.
 The market reacted to some extent before the close and this, coupled with the early decline, makes the net gains smaller than the extreme advances. Amongst the industrials General Electric Sugar and the local gas stocks were all notably strong.
 Net gains over points were shown by Consolidated Gas, Edison Electric of New York and Erie Telephone. Omahas net advance was 2 and Sugar the same, Chicago and East Illinois pre- ferred showing an equal gain. Cotton oil, Sugar preferred, Brooklyn Union jas, Canada Southern Chicago Great Western preferred, Delaware and Hud- son, Erie first preferred. General Elec- ,ric. Laclede Gas, Lake Shore Metro oolitan Traction, New York Central, New York, Chicago and St. Louis sec 'nd preferred, Northern Pacific pre- | erred, Northwestern, Pennsylvania. Pullman, St. Paul and St. Joe, and 1rand Island first preferred showed net | rains of point or over.
 The price of bonds fell off at the open- 1 ng but the market became strong lat IT, Total sales 3,1O0,OOO.
 Following are the closing prices re- ported by Prince & Whitely. bankers md brokers, 46 Broadway, New York, nd 15 Center street, New Haven:
 Bid. Askei.