The age-herald., 1897-11-07
Markets by ]. Telegraph.

in prices and dhe stirring up of dead
 stocks are the technical concomitants
 Of the culmina ton of a sustained rise. >The declines for the week have reached
 13 points in Sugar, 55s in New Jercey
 Central and points or over all through
 the active list of railroad and indus trial
 stocks. Sugars special weakness has
 been due to the serious illness of the
 president of the company. The decline of prices has continued now practically
 without interruption of any inportance
 since the second week in Septembr r, when the continuation of the rise was
 reached. On Sept. 10 the average pr.ee
 of twenty active railway stocks was
 about $56.S3 a share, and last night the aveuage price of the same stocks was
 $572O. On Sept. 10 the average pliea of twelve leading industrial stocks was
 $55S2 a share. Last night the price was
 s43. 5S.
 l It is an invaria1ble rule that an upward Recourse of prices in tIA market does not It arnir1te ufatI1 it has apparently ex- Exceeded itself and reaction Is a castainfy, r ses11obuafed by abundant historical 1 precedent even in face of continuing ia -vbrable conditions. The rise which cul- l minated in th5 second week in Seirltem- tber can be traced to its sources in the latter pant of July. There had been lnn- 1 provernent bsfora that time and sp5cula- ltfon on ths prospect of business reFiVai, l but the final passage of the tarln nlli
 was accepted as clearing the indusr'a al l situation and giving settted conditions to | work on. There was some reaction in | Sugar afterwards on profit taking, but | flor the most part the pItce was st -al1lly upward from that time until the cul- | imitation. The growth of the conviction i of a bountiful harvest and of an urgent ] demand for our prospects from abroad ] were reflected in the bull maG1=t of that l period A comparison of prices of lead- | ing stocks ruling today with those ruling | on July last shows interesting results. | The agerags rcfce on that dat of twen- 1 ty active railway stocks was $57.2S | sta1e, compared with $5T90 last night for the same stocks. The price for
 the same stocks. The price for twelve | industrial stocks on July 24 was $47.92 a | share, compared with $45.73 last night.
 Except for the Changers only three 1 stocks in this railway list vary as much | as three points as between the two dates named. The exceptions are: l Cleveland, Cincinnati, Chicago and St. Iauis Missouri Pacific and Manhattan | The Grangers are from to 10 points 1 thigheIr. In the list of twelve industrial stocks only three show a variation of as much as three points as between the two dates manned. Sons few stocks,
 notably the Coalers, Sugar, Leather pre- fslrred, Pacific Mail and Kansas and l Texas preferred are llttle lower than l they Wire on July 24.
 i Generally speaking, it may be said
 that prices have about retraced their
 courses to where they were before the
 late marvellous increase in traffic and l earnings during that period.
 Bonds have been less affected by de- 1 precision during the week than stocks, | but prices have shown sympathetic de-
 clines. United States old As, registered, 1 have declined fl on the week. The new i As are up B@A.
 Total sales of stocks today were 205,- | S20 shares, including: Chicago, Rprling 1 ton and Quincy, 190S7; Louisville and 1 Nashville, 6,060; Missouri Pacific, 7,072;
 New York Central, 3,S25; Northern Pa | cific preferred, 107S3; Reading, 4,670; Rock Island, S,S95; St. Paul, 1T 1863; Un- 1 ion Pacific, 5,660; Chicago Gas, 5,470; | Sugar, 39.670; Tennessee Coal and Iron l 3,65O; Chicago Great Western, 6,4O4. | Money on call nominally at 1h@2 per | cent.
 Prime mercantile paper. 3A@4k per 1 cent.
 1 Sterling exchange steady. with actual 1 business in bankers bills at $4.S5as@ | 4.S51a for demand and at $4.S2A@4.S2% | for sixty days.
 Posted rates s4.SSh and $4.S61s. Commercial bills, $4S2.
 Bar silver, 571s. Mexican dollars, AZ.
 State bonds dull. Railroad bonds firm.
 Government bonds steady.