The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-02-04
STOCKS AND BONDS.

New York, Feb. 2.-HeavineSS and
dullness characterized dealings on the
stock exchange throughout today and
prices sagged in a detected manner, ap-
parently for almost total lack of interest
in the market. The day was without
amy special features, except as it was in
contrast with the activity and buoyancy
Of the latter part of last week and the
comparatively heavy dealings yesterday.
The principal dealings of the day were
in Northern Pacific shares, as has been
the case for some time past. The re-
port that underwriting syndicate had dis
posed of a large block of stock and other
securities of this company to German
capitalists and an option for a further
amount was held by the same purchasers
induced the selling of the preferred stock
down IA 10 81 5-8 There was some
support developed at the low figures and
the decline was checked, followed by a
half hour the preferred stock mentioned
declined again and closed at 81 1-S, the
lowest figure of the day. In addition to
the weakness in Northern Pacific, there
was some special cause which led to the
declines in a number of the high priced
speciakies- The most notable example Of
this factor in the days situation was
WESTERN UnlOll, WHICH, SOlu Ol u pUluI
and a half on fears as to the effect of the
interstate law taxing telegraph compa-
nies, whose constitutionality was affirmed
by the supreme court yesterday. Tobacco
also afforded n leverage for the decline
through its falling off of l IA on appre-
tensions over threatened litigation
against the trust. Sugar also was sold
On Washington rumors of impending
tariff changes which would effect the diff
Ii, in, artH on ROT
sugar. Burlington was depressing fac
tor and fell off on Boston selling and ap-
prehension of an unfavorable December
statement induced by the delay in the
issuing of the statement. The decline in
these stocks due to special causes, threw
something like a damper on the market
and encouraged an attack all along the
line. The consequence was that prices
showed a tendency to decline and the pro
fessional traders in Northern Pacific and
other stocks affected FASTENED to take the
Profits on their holdings. The heavy de
cline in New York, New Hampshire and
Hartford was a feature of the day, the
decline being II points with subsequent
recovery of 4 points. The anthracite
coal stocks moved in common with the
general list, their range, however, being
less marked than heretofore.
In spite of the general sagging tendency
Of the market there were substantial
gains in some of the gilt edged securi-
ties, showing renewal of Investment
purchases and good supply of money
for use. London operations were fairly
large, mainly for the special account.
Transactions in bonds were on a smaller
scale, prices yielding in sympathy with
the stock market. Round lots, however
Of the principal issues were taken for the
continental account.
The bond market displayed q reaction
airy tendency on realizing by the traders
The dealings were largely conferred in the
specialties with irregularity, noted at in
teryals. The losses generally were re-
stricted to fractions. although decided
gains were made in some instances in the
high grade lines. Sales, $2,3U,00O.