The age-herald., 1897-10-26
RIoRDAN 6 co.
Tn Wall Strest.

IdioS Clop 6oLliliolcS LO INA AhAAAA0AA' 0e~AsS is quite current.
 RIoRDAN & co.
 In Wall Strest.
 New York, Oct. 25.-Tbe conviction that a rupture in our relations with Spain will ultimately result from the Cuban question and a danger that the Union Pacific reorganization plan would be upset by the governments desire to postpone the sale and the weakness in New York Central due to yesterdays disaster on its line, combined to break the stock market today and demoralized pric.s throughout the list. The lower prices for American securities in London and the decline in the price of Spanish As there of F per cent to 9e, were ae- cepted as a measure of apprehension felt there as to the harm that would be done to values by threatened rupture. The opening showed sharp declinss in the international stocks and the special ties, and by noon losses of point or over had spread to practically every stock in the list. There was lull in th4 activity of the liquidation. at that time, and a steadying of prices based on a hope that the supreme court would hand down a favorable decision in the Ne braska maximum freight rate case and that prices of railway property would tend to improve as a result. A sharp rally in Chicago Gas on the announce ment of the declaration of the regular dividend hslped to steady the list. But the afternoon was given to alternate periods of active liquidation and fast falling prices and of stagnataon and of slight rallies The announcement of the governments decision to apply for post ponsment of the foreclosure sale of the Union Pacific and Kansas Pacific proper ties brought out enormous liquidation on Union Pacific stocks There was no check apparent n the liquidation or in the fall of the price as a result of the announcement of the reorganization committee that it intended to bid in the Un.on Pacific main line if need be for the full amount of the governments claim. This would involve an increase of $S,O00, 900 over the latest upset price which the syndicate agreed to insure the government and of over $12,000, ,0O0 over the price fixed at the time the present reorganization plan was agreed upon. The purpos+ of the reorganization com mittee to divide the reorganization of the Union Pacific and the Kansas Pacific into two separate operations failed to quiet the fears of those who have sp4cu- lated in Union Pacific on the basis of the present reorganization plan. The pres ent feeling to refsr the whole matter to congress awakens fear that delay will attend completion of the reorganization.
 The government second mortgage on the, Kansas Pacific four for about $18,- O0O,OOO is unprovided for, and the re- organization committee take the stand that the government would be allowed to bid the property in if it is not willing to take the bid of the committee. The fear that this would endangzr the plan of the reorganization evidently augmented the selling. The sales of the stock conSti- tuted the eighth of the total transactions today. Today's net declines in all the active stocks ran from 1 per cent. to over 2 per cent, and in Consolidated Gas reached 51s per cent. The Wander bilts were conspicuously weak A shalp advance of 5s in the actual rates for de- mand sterling exchange was feature of the day and was a reflection of the rising rate of discount in London and of the d.scounting of accommodating ster- ling bills here.
 Railway bonds were in sympathy with stocks. Total sales were $1,610,c0O.
 United States new As and the 5's rsg- istared were advanced 1s bid.
 The total sales of stocks today were 3S9,206 shares, including the following: Atchison preferred, 6695; Chesapeake and Ohio 5,825; Louisville and Nashville, 12,- 15O; Missouri Pacific, 10,7g0; New York Central, 1s,473; Northern Pacific 5.695;; do preferred, 12,451; Reading, .5,S2O; Rock Island 9,975; St. Paul. 37655; Union Pa- cific T. R. second assessment paid, 63,- 409 Bay State Gas. 19,230; Chicago Gas, 6,391; Sugar. Al, ,335; Chicago Great Vest ern, S,140
 Money on call easy at per cent; last 1oan, per cent; closed offered at 2 per csnt
 Prime mercantile paper, 4@41s per cent Sterling exchange strong and active, with actual business in bankers bills at $4.S5ss@4. S5A for demand and at $4.S2%@ 4.S2A for sixty days.
 Posted rates, $4831a@4S61s
 Commercial bills, $4.81k.
 Silver certificates, 5SA@59c.
 \ Bar silver, 5Sc.
 Mexican dollars, 45c.
 Government bonds firm.
 State bonds dull.
 Railroad bonds, weak.