The daily morning journal and courier., 1897-11-04
FinanciaI.
The Stock Market Was Dull, Heavy and
 Weak Yesterday.


 Weak Yesterday.
 New York; Nov. 3.-Heavy prices and a dull market were the conditions on the stock exchange during the greater part of the day, but in the later dealings more active liquidation set in and the trading became more animated than at any time previously, prices falling to the lowest of the day and remaining there practically till the close.
 The low point represented net de- clines, running all the way from a point to 5A, the latter in Sugar. A great many prominent stocks lost over ? points on the day, several of the grangers and the coalers being conspic- uous in the list. The prices for. Ameri- can securities quoted in the London market at the time of the opening here showed sharp declines and the later re- ports showed that the results of the elections yesterday had aroused consid- erable unfavorable sentiment amongst security holders abroad.
 This market took it's cue from Lon don and the opening showed declines rather in excess of some of those re- ported from abroad. There was some buying in this market at the lower level for London account, but this probably represented arbitrage opera tions to cover sales made in London earlier in the day. It had the effect, however, of steadying prices. A sen sational jump of 13 points in Consoli- dated Gas, and gains of 2A in Man haitian and of the same amount in Metropolitan Street Railway also serv- cd to check any declining tendency. These gains were accompanied by ru- mors that the properties affected were assured of immunity from hurtful measures as a result of yesterday s | local election in New York | That the gains were manipulative
 was shown by the fact that they were | wiped out during the day in the case
 of the two last named and ConsoG- | dated Gas reacted 62l points. Sugar | was center of weakness all day and l it developed that this was due to a | pevalent rumor ofthe illness of an off | cer of the company which was used | with good effect, by the bears. The stock fell successively SIS points, clos | ing at the lowest. a.
 The coalers were all very notably weak in the latter part of the day and | their net losses ranged all the way from 1 ? to nearly points, the latter in New | Jersey Central. Northwest, Omaha
 and St. Paul and Burlington also lost | over points on the day. The specia
 weakness in the coalers was caused by l statements of the continued unfavora. l ble condition of the coal trade.
 The trading was largely confined tc the professional element, who are bears
 for the time being, and who urged that | yesterdays elections indicate a growth
 of sentiment in favor of restrictions or 1 capital and corporations. The later de | cline in the market dislodged some
 stop loss orders. but the fact that the
 total sales for the day were only about
 33O 0O0 shares shows that the liquidation | was not heavy
 | Business in railway bonds was not 1 on a large scale, but prices were weak
 with sympathy with stocks. Kansas
 Pacific consols fell IA. Total sales, $1,. | 200, 900.
 United States fours of 1907 and fours | of 1925 were each advanced 1s bid. l Following are the closing prices re ported by Prince & Whitely, banker. and brokers, 46 Broadway, New York | and 15 Center street, New Haven: