The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-09-17
GREAT g / :: I.RREGU LARITY
The NJ Market sl'l Closed i allh ali. GsnsraI
4. Level Of Prices Lower. 81.
ANEW SHAPES SHOWED slIeHr eAIA Is
London Wns q buyer or Fayorlte.
stechs All Day-Tho AIeayiness OF
tho Market wns aitiEntcd from
thine Time 20 Time During the Day by
she Strength or Especial Stocks.

view York. Sept 16.-The market clos
ed this evening with general level Of
prices lower after q day Of great frrcg-
llarity and constant movement up and
4 Gown OF the whole list over q narrow
rahse. Quite a large number OF shares
showed small fractional gains and a few
BLOCKS showed notable rises, but the
Changers, Vanderbiits, trunk lines and
1ran-continental lines as whole declin-
ed In value during the day. This is true,
Notwithstanding the fact that London
was buyer Of favorite slocks all day
). and all the general news as to improv-
y ing business and increased earnings of
railroads continued to favor advancing
prices. Prices IN fact were higher at
the opening but liquidation quickly set
IN ana prices generally receded. The
closing market OF accounts of failed
arm under the rules OF the stock ex-
change had something to do with the
Ondertone OF heaviness which was mani
Test all day. The fear or interrupted
traffic in the South from yellow fever,
also depressed the price Of railroads in
that region and sympathetically in the
r whole list
The steady. tone manifested in the ex-
change market early in the day had the
erect OF dlscouraging hope Of the early
importation of-gold. and this had its in
1iuence in aiding the reaction. This had
the greater effect because of the harden
. Ing tendency OF the money market, ask
Ing rates for call loans being as high as
2h per- cent The marked weakening OF
the exchange market In the last half
hour of trading served to steady prices
OF stock to some extent, the decline near
ly' being checked. but recoveries being
shown in the closing transactions of the
stocks. Posted rates for both long and
short sterling were reduced 1Ac. to SO
and 4.854a respectively. The rate Of ex-
change on Paris was also weak and it
seems evident from the action of the
Bank Of England in maintaining It's
maximum discount rate at per cent. in
face of the continued decline in it's re-
serve and Its stock of bullion that Lon
don expects Paris to supply the first
demand of this country for gold. But
the Paris exchange on London recorded
fall to-day which would naturally
tend to weaken the force Of the New
York exchange demand on Paris. The
heaviness of to-day's market was miti-
gated from time to time by the strength
manifested by special stocks. Northern
Pacific Issues were at one time in spe-
cial demand and showed marked adj
vances, as was also true of Consolidated
Gas, Pittsburg, G.. G. G. & ST. Louis.
Chicago Great Western and the Mime
apols and ST. Louis stocks. All of these
reacted from the best, but most of them
remained at a net advance over last
nights close. Pittsburg c. c. c. & st.
Louis common and preferred show net
gains OF 1902 points respectively. In
the Minneapolis and st. Louis stocks all
three are left. with net advances OF two
points or over. Consolidated Gas also
gained two points after having been 2
points higher.
The total sales Of stocks to-day were
660,009 shares.