The daily morning journal and courier., 1897-11-10
Etmauctal.
Trading Genuinely Strong and Buying of
 Good Character.

l Ai"uihS USh huiheiy strong ana Buylns Of Good Character.
 1 New York, Nov. 9.--The tone of the
 market for stocks during the latter part
 of the days trading was genuinely
 strong. There was steady buying of a good character all day, which seemed
 to be for long account, and in the final
 transactions the shorts were driven to
 cover quite urgently, carrying the level
 or prices strongly above last nights close, so that the net gains in nearly
 all active stocks are over a point and
 in many cases, notably the grangers
 and some of the southern stocks, are
 nearly two points. The professional
 bear element was prepared for a con-
 tinuance of their successful campaign
 Of yesterday, and they set about raid-
 ing the market very soon after the
 opening which showed fractional inn
 provements in sympathy with London.
 Sugar was the vulnerable point of at
 tack and was driven down over two per
 cent. on ill-defined rumors of changes
 to be formulated of illegal entries of
 imported sugar. The bears also suc-
 ceeded in depressing New Jersey Gen. tral Manhattan and one or two other recently susceptible stocks But the sympathetic decline brought about in the balance of the list was narrow and gave sufficient warning to the bears that they were not to have things their own way so unresisted as yesterday. The coalers showed a marked tendency to recover from their recent depression
 FAY, oy the competing interests in the trade. The southern railroads enjoyed the benefit of the very large cotton move- ment, which has resulted from the lift ing of yellow fever quarantines, and which has sent the price of cotton to near the lowest price on record. The whole railway list also was strengthen ed by consideration of yesterdays su- preme court decision denying the right of the interstate commerce commission to enforce absolutely the long and short haul clause of the interstate law. There was marked subsistence of apprehen- sion regarding relations with Spain on account of Cuba, and intimation came during the afternoon, after the cabinet | had gone into session at Washington, that an official announcement would be made there tomorrow of an expressed | on the part of Spain to ac- l cept the good offices of the United | States in aiding settlement of the Gu ban question.
 One of the strongest factors in the t improved tone was the large and confi- dent buying for London account This was especially marked in St. Paul, Louisville and Northern Pacific prefer red. Money in London shows an easier tendency and invites to increase specu- lation. Part of the buying also was incident to the settlement in progress on the London echange. Reports of railway earnings were many of them very favorable, though Northern Paci- fic showed a. decrease for the fourth week in October of over $36, 900. There were periods of dullness and hesitancy during the day and the total sales of all stocks were less than 400, 900 shares, 'f which Sugar, Burlington and St. Paul made nearly half Net gains in excess of per cent. were shown by Consoli- lated Gas, which rose [; Detroit Gas 31s Ia gain of II points in two days); Lake Shore 3, Pittsburg, Columbus, Cincin- lati and St. Louis preferred 31a and Pullman 2as.
 The bond market was rather quiet, put prices held firm. The total sales were $1,350,000.
 United States 5s declined 1s bid and he 2s registered F.
 Following are the closing prices re- ported by Prince S Whitely, bankers md brokers, 46 Broadway, New York. Ind 15 Center street. New Haven: