Omaha daily bee., 1897-02-06
STOCKS n BoNDs.
Trust investigation the Mar.
ket. hut Prices Arc We'll Held.

NEW YORK, Feb. 5-The Lexow committee
of the New York Legislature to investigate trusts
was the shadow upon the market in the dealings
today. The days trading was for. the most
part in the Industrial stocks, Sugar occupying
the overwhelming proportion of attention. With
the market thus restricted, the effect on prices
was In sympathy with the course of Sugar and
the other industrials, which was markedly down
ward, with a rally at the close, due to covering
py shorts. The days proceedings in stocks gave
little evidence of much If any but professional
dealings, though the bond market showed evil
dehces of a well maintained strength, and an
investment movement. Sugar and the indus
hension of the trust Investigating committee
and other antitrust influences. were each
affected by some special causes, which influer ced
tae decline. In the case of Sugar there is a pros
pectiVe coup in the coffee war, the continued
a new French bounty, and the general dullness
in the trade. The extreme decline under the
conditions was u pen cent, and the fraction was
eventually recovered after the decline in sugar
had been effected. ATTENTION was turned to
Leather preferred, which Vas driven down a point
on the antitrust scare and liquidation of hold
ings. Tobacco was next attacked and responded
with a decline of IL per cent. American Spirits
did not escape the effect of the general decline
in the industrial stocks and receded q per cent
for the common, and l point for the preferred
conditions and the prospects of reduced prices.
This wholesale onslaught on the industrials
dead its effect IF stn on ,hs Railway shares and they
influence in these sfocky.. Burlington sold off
responded fractionallp. cLondon selling had its
effect in this department.. tae market there
having been stirred byb alarming rumors re-
garding the health of the car and the South
African situation. There were periods of dull
ness after the first hour of trading, possibly de-
voted to waiting for developments in the trust
investigation, during Which the changes were
very narrow. T1ieHdealinss in the low-priced
SHARES assumed a somewhat unwonted i'm
portance. but the fluctuations were small. In
the final hour, however, there was a revival
in the market and prices advanced generally
under a covering movement by the shorts. The
anthracite coal groups showed an Improvement
under this movement of ~ per cent. Leather
preferred and Northern Pacific preferred adj
Vanced ! per cent. In this rally at the clcoe
prices generally were carried to about the
best point of the day.
Tne bond market maintained decided strength,
and although the movement was irregular at
intervals, the main tendency was toward a
higher basis, with large blocks being taken for
European account. The excellent progress
noted in the Mobilization of various properties
has instituted a keen demand for some of the
low-grade issues. which attained the highest
prices current for a long time. The sales
were $2,I24,0Co. The comparative prices re-
corded notable gains in a number of the high
priced issues. The speculative mortgages show
changes OF a slight fraction either way. Gov
ernment bonds We're made under the pressure
and yielded fractionally on sales of 80 600.
The following were the closing quotations on
the leading stocks Of the New York exchange
TODAY: