The daily morning journal and courier., 1897-07-16
FtmanctaI.
Professional Traders Moved Stocks First
 One Way and Then Another Yesterday.

One WaY ana Then AUOCueT leBIefUays
 New York, July 15.-The conference committee deadlock on the tariff had a counterpart of the floor of the stock exchange to-day among the profession al speculators, the net changes being but fractional either way in most ac- tive stocks, but for the time being the market has broadened materially, so after a two days success 1t would seem that speculators for an advance might be content with not losing much ground on the third, especially as 1t is considered probable that the strong 1rl- terests with optimistic market tenden- cies prefer a quiet market pending final action on the tariff and the pres ident's currency message in order that ultimately their favorites may not car- ry top weight in the advance they fafn would expect when congress adjourns.
 The enormous over-subscription, $50,- 900, GOO for a s2,000,000 issue of Metro politan Street Railway bonds, offered at 105, and the fact that there were simultaneous sales at an advance of 5R points on the street, were taken as a certain indication Of confidence. More over. the Great Northern increased div idend was interpreted as fairly indicat- ing steady business recovery in the Great Northwest.
 The grangers, the foremost benefici- aries of such conditions, showed tempo- rary strength, but lost their early gain. The favorable crop outlook coincident ,,;+1, ,.t, ;,, l,a evidently been discounted, and St. Paul was subjected to professional pressure, but the net recession was trifiing While London disregarded the Boring Sea dispute, they took a less interest in Americans than yesterday, selling moderately of St. Paul and purchasing a few low-priced shares and Louisville, the latter buying being due to cabled statements that the resumption of div idends is possible without the restora- tion of wages.
 Sugar suffered to the extent of point on repetitions of the rumor exploited yesterday that the house duty will real ly win in the conference committee, and again the possible delay was depress- ing, a member of the committee being quoted as saying that an agreement might not take place for two weeks
 Tobacco was manipulated in the ear- ly trading so as to recover the 2 per cent dividend. It then reacted, mak- ing a small net loss on the day. There was little buoyancy among the coalers, excepting Susuuehanna and Western preferred, which gained 1A per cent, and Susquehanna and Western common a rpinf la toc ct r,,,,, r,,, ropean trip of financiers seeking Eng fish help to purchase control of the road. Local gas companies sharply dvanced-Consolidate Gas 2A, East River and the preferred 5A, counting that it was ex-dividend. Speculators took it for granted that there will be partial consolidation of Greater New York gas companies, although it was not wise to officially admit as much, and hence the denials.
 The average of changes was slightly lower for the day. The changes of a point or whereabouts not hitherto spec flied were gains in American Cable. Cotton Oil preferred, Brooklyn Rapid Transit and Colorado Fuel, and losses in Des Moines and Fort Dodge and Lake Shore.
 The bond market reflected to mark ca degree the general confidence in the liliaEclal and commercial situation. Appreclations were general in all class eS or securities and the revived demand Lor the low grade mortgages was re- 6drued as indicating considera ble out sue purchases. Operations for foreign account embraced purchases of the more prominent international lines The aggregate sales were S1.715. .Ooo
 Following are the closing prices ra- ported py Prince & Whitely, bankers ana prokers' l6 Broadway, New York, and 15 Center street, New Haven: