The Saint Paul globe., 1897-11-04
NEW YORK CLOSING WEAK AND
THE LOWEST FOR THE
DAy.
SHARP SLUMP In SUGAR.
CHANGERS AND COALERS ALSO
CONSPICUOUS FOR MARKET
DECLINES.
ELECTION RETURNS A BIG FACTOR.
Trading Confined to the Professions
ais, Who for the Time Being
Are All Bears.

NEW YORK, Nov 3I-Heavy prices and
dull market were the conditions Of the stock
exchange during the greater part OF the day,
but in the later dealings a more active liqul-
dation set in, and trading became more ami
mated than at any time previously, prices
falling to the lowest Of the day and remain
ing there practically till the close. The low
point represented net declines running all the
way from l point to 515, the latter in Sugar.
A great many prominent stocks lost over
points on the day, several of the grangers
and the coalers being conspicuous IN the list.
The prices for American securities quoted in
the London market at the time Of the opening
here, showed sharp declines, and the later
reports showed that the results Of the cleo
tions yesterday had aroused considerable un-
favorable sentiment among security holders
abroad This market took its cue from Lon
don, and the opening showed declines rather
in excess of some Of those reported from
abroad. There was some buying IN this mar
ket at the lower level for London account,
but this probably represented arbitrage op-
erations to cover sales made in London early
In the day It had the effect, however, OF
steadying prices. A sensational jump of IL
points in Consolidated Gas, and gains of "a
IN Manhattan, and Of the same amount IN
Metropolitan, also served to check any de-
cIining tendency. These gains were accom-
panied by rumors that the properties affected
were assured Of immunity from hurtful meas
ures as a result Of yesterdays local election
in New York. That the gains were manlp-
uIative was shown by a fact that they were
wiped out during the day in the case OF the
two last named, and Consolidated Gas re-
acted 6% points, Sugar was center OF weak
ness all day, and 1t developed that this was
due to a prevalent rumor OF the illness OF
an officer Of the company, which was used
with good effect by the bears. The stock fell
successfully 51A points, closing at the lowest.
The coalers were all very notably weak IN
the latter part OF the day, and the net losses
range all the way from to nearly points,
the latter in New Jersey Central. Northwest,
Omaha, St. Paul and Burlington also lost over
points on the day. The special weakness
in the coalers was caused by statements of
the continued unfavorable condition Of the
coal trade.
The trading was largely confined to the
professional element, who are bears for the
time being and who urged that yesterdays
elections indicate a growth Of sentiment IN
favor of restrictions on capital and corpora
tons. The latter decline in the market dis
lodged some stop loss orderes, but the fact
that the total sales for the day were only
about $780, 900 shares shows that the liQuida-
ton was not heavy.
Business in railroad bonds was not on a
large scale, but prices were weak in SYM
pathy with stocks. Kansas Pacific consols fell
IL. Total sales, s1,2O0,OO United States As
Of 1907 and As Of 1925 were each advanced 1s
bid
The total sales Of stocks today were 329, ,313
shares, including: Atchison, 6,6S7; L. & N,
5000; Missouri Pacific, 10000; N. ]. Central,
1880; N. Y. Central, 5000; Northern Pacific,
Il, ,O55: Reading $500; Rock Island, 11,276;
$50; Chicago Gas, 1925; Consolidated Gas,
6.4O5; Sugar, 4,52O; Western Union, 3,40O; Chi
cago Great Western, $3.50.
The following were the fluctuations Of the
leading railway and industrial shares fus-
nished by G. H. F. Smith & Co.. members
New York stock exchange and Chicago board
of trade: