The herald., 1897-11-07

reaction Is a certainty, corroborated by
abundant historical precedent, even in the
face of continuing favorable conditions
The rise which eliminated in the second
week In September can be traced to its
sources In the latter part of July. There
had been improvement before then, and
speculation on the prospect of business re-
vival. But the final passage of the tariff
bill was accepted as clearing the industrial
situation. and giving settled conditions to
work on.
There was some reaction In some prices
afterward on profit taking, but for the
most part the course was steadily upward
The growth of a conviction of a bountiful
harvest and of an urgent demand for our
products from abroad were reflected in the
bull market of that period. A comparison
of prices of leading stocks ruling today
with those ruling on July 24th last show
interesting results. The average price of
that date of twenty railroad stocks was
So7.2S share, compared with $57 80 last
night for the same stocks. The price for
twelve industrial stocks on July Gath was
H7.02 a share, as compared with S45.73 last
night.
In the list of twelve industrials, only
three show a variation of as much as 3
points between the two dates mentioned
Some few stocks, notably the coalers. su-
gar, leather preferred, Pacific Mail and
tie lower than they were on July oath.
Generally speaking it may be said that
prices have about retracted their courses
to where they were before the late mar
velous increase in traffic and earnings dur
ing that period.
Bonds have been less affected by the
depression during the week than stocks
but prices have shown some sympathetic
declines. United States fours registered
have declined II an tho
Closing Stocks
NEW YORK, Nov G.-Thc following
were the closing stock quotations today:
Atchison ........12Ls do pfd..... 9A
do pfd.... 265s st Paul .......... 9OM
Baltimore & o. 13 do pfd 1881
Canada Pacific. 1915 st Paul & O..... 7Gh
Canada South. 52& do pfd......nO
Central Pacific 13 st p NJ e. NJ. 1907
Ches IL Ohio... 20la Southern Pac.... 1871
Chicago e. A...1GO Southern Ry..... SN
b & O........ do pfd..... 2sA
d. f I......... 5S1a Texas G. Pac.... 1913
st L...... 1874 Union Pacific. POS
do pfd.... 80 u p & G....
Del & Hudson .10912 Wabash ......... 6%
D q l. W.......15l do pfd....... 1913
& r G........ 10 w & L E........ 1
do pfd.... 4S% do pfd......
Erie (new)..... 14% Adams Express 1852
do 1st p1i... 34A American Elk. .115
Fort Wayne. .165 U S Express. 49,. 40
Great N pfd.. ...13O Wells-F Fargo ....1O9
Hooking VAL. 5la Am Cotton OIL. 20A
Illinois Central. 99ia do pfd...... 20
l. f & w.. 141a Am Spirits ....... e1a
do pfd...... 6S do pfd...... 25A
Lake shore... 1863 Am Tobacco..... 7S5s
Louis & Nash. 52s do pfd.... 100
Manhattan L.. 9SA Chicago Cas-. 9ias
Met st Ry......10lR Con Cas-. ......197
Mich Central. Com Gable Co. lis
Minn & st L.. 90 Col F & I........ r..
do 1st pfd... 50 do pfd....... 70
Missouri Pac.. 272s Gen Electric..... 31A
Mobile & Ohio % Illinois Steel..... SO
NJ X & T........ 1925 La Clede Cas-. 40
do pfd..... 1855 -ead ............. 32is
Chi Ind & H.. s do pfd...... 1914
do pfd.... % Nat I.inseed Oil. Az
Central. ... S71s Ore Imp Co... 1871
Central. .1O5ls Pacific MALL. 29i:
YC& st L.. 1874 Pullman Palace. .161
do 1st pfd.. 13 Silver Cert....... 5II
do 2nd pfd. 11a4 Standard r & I. Az
Norfolk West. 1914 Sugar ............192
Am Co...... 4 do pfd. .109l.
Northern Pac.. II G & I.......... 23aii
do pfd...... 597s Leather......
Ontario & w.. Is do pfd....... 60A
OR& N 80 L Rubber. .... 16h
Or Short Line. 11ai do pfd...... 651:
Pittsburg .. 1865 Chicago & G W.1iSl
Reading ....... 2O5s Chicago & N w ISL.
Rock Island.... S21s do pfd.. .162
st Louis & S +. 4 Western Union. S5ii