New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-05-25
CLOSING PRICES OF CHICAGO STOCKS.
Monday. MAY 24-p. m

The Nebraska maximum freight rate case was
not decided to-day. and decision will not be
handed down until the fall term OF the supreme
Court No decision, however, was accepted on
the Stock Exchange as better than one "a
vorable to the State of Nebraska. and as the
Supreme Court decided in the Interstate Com
merce case in favor of the railroads. adequate
reason was presented for advancing stock prices.
The importance Of decision In the Nebraska
maximum rate case favorable TO the railroads
ran readily be understood when the provisions
of the act as passed by the Nebraska Legis-
lature are known. The law gave the State an
arbitrary power involving the right of making
rates for the railroad companies. and, according
to estimates made by the companies, would re-
suit in a loss in earnings TO the railroads In
Nebraska of upward of S2,oOO'OOO a year The
act was passed in 1893 and provided that all
freights should be classified In certain way.
and that any different classification which would
advance rates on any class Of freights would
be Illegal Furthermore. the act provided that
no road should make a freight charge from any
point in the State to any other point IN the
State at q higher rate than that fixed in the
bill. the rate thus fixed being. according TO the
art 1.-The reasonable maximum rate for the dis
lance hauled" BY the terms Of the act the
Nebraska Railroad Commissioners were en-
powered to reduce any rate in any class. The
Circuit Court Of the United States In Nebraska
declared the law unconstitutional; the State took
ao-appeal TO the Supreme Court and it was
expected that decision would be given TO-
day The decision in the interstate commerce
case in which the Court denies the power OF the
Interstate Commerce Commission to prescribe
maximum railroad rates, is considered gooo
one by railroad men, and il is believed that the
Commission will now work with the railroads
for pooling bill.
The effect Of this decision pronounced IN
the stock market, both in respect to prices ana
transactions. The unexpected engagement OF a
considerable amount Of gold for export to-mor-
row had somewhat depressing influence upon
stock trading after the opening; but early losses
were offset by advances following the Supreme
Court decision, and closing prices showed net
gains throughout There was marked increase
in activity in the afternoon trading, with buying
for both accounts, and in the Western railroad
shares some commission house orders were made
as result Of the rate decision. Jersey Central
was again conspicuous by reason OF further bear
ATTACKS ON the stock Subsequent supporting
orders however, caused a rally from the lowest
price Of the day and at the close II made net
gain OF q per cent The Granger shares made
advances of over per cent holding most OF the
gain up 10 the close and the INDUSTRIAL shares as
a rule were higher. Transactions In burlington
reached nearly $4,000 shares-the heaviest on
the list-and with those IN Jersey Central, st
Paul and Chicago Gas. furnished SolZo sndres
out of a total In all Of lGl $50 shares. Gold TO
the amount Of 81 100000 will be exported TO-
morrow 81 10000 Of this amount being taken
from sources other than the Treasury. The
gold goes in settlement Of trade balance ana
makes the total TO date in the present move
rnent S16,512 TAG
Prices for last sales Of the principal active
stocks to-day, compared with the final figures
<tS ofi rhny az