The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-11-18
Etmamelal.
Net Declines In the Stock Market About the
Same but the Range of Prices a Little
NVider

Same but the Range of Prices a Little
Wider.
New York, Nov. 1L--Net declines to-
day were about the same as net gains
were yesterday in the stock market.
But the range Of prices is a little wider,
as there was a. time during the day
when they were carried a fraction
above yesterdays close. The extreme
decline in some of the grangers and the
coalers is therefore something over a
point. Sugar ruled generally above last
nights close, rising at one time IL, and
this sustained the general market for
time. A jump Of 81 in Consolidated
Gas was also on the side of sustained
prices, though the eccentric movements
of this stock have come to be PRACTICAL
ly disregarded. Both of these stocks fell
away to yesterdays level in the subse-
quent weakness.
There was a lack of flrmness in the
price of st. Paul, Notwithstanding the
increase Of $147,000 in it's earnings for
the second week in November. The
comparison is with poor week last
year and was considered as not show
ing the recent high rate of earnings
fully sustained. The declaration of
only the regular quarterly dividend Of
per cent. on Burlington brought real
1zing sales In that stock and also served
to weaken somewhat the granger group.
Southern and southwestern stocks were
comparatively firm on the excellent sec
ond week statements of Missouri Paci-
fic, Wabash and Texas Pacific, and on
the continued heavy cotton movement
in the south. Speculation, however, was
almost dead and the dealing In specula-
tive stocks was confined entirely to the
room traders. Union Pacific was very
heavy in tone all day and lost IL per
cent. net
This decline was coupled with rise
of nearly points in the Kansas Pacific
consol bonds. The bond market was
much more active relatively than stocks
and the high priced investment issues
were in special demand and showed
gains of from to points This ten
dency in the security market is entirely
consonant with the remarkable ease in
the money market. There Is steady
current of funds towards this center,
and a liquidation of loans and a very
limited demand for the money thus set
free. 1t is now known that last weeks
increase in loans on New York banks
was more than accounted for by opera
tons on account of the Union Pacific
sale. Loans on other accounts showed
an actual decrease, and the limited sup
ply of commercial paper offerings indi-
Gates that merchants are not in need
of funds at present This is in part due
to the easy collections all over the coun-
try and to the large payments of out
standing Indebtedness which have made
money plentiful at interior points. But
there is some apprehension that it may
also be due to falling off in business ac-
tivity.
The ease of the money market is so
marked that there is some talk that the
Union Pacific Payments to the govern
n1ent will be made before they become
due. The total sales of all stocks fell
again to-day to less than 1870, 900 shares.
and losses are, general throughout the
list. Bay State Gas led in point of ac-
tivity and was lifted at one time q per
cent, but the advance was met with
enormous offerings which drove the
price down. EG
In the bond market there was sale
of Flint and Pere Marquette Port HUI
ron division Is at TX points lower than
the last SALE which was several weeks
ago. Otherwise prices We're firm or
higher. The total sales aggregated ST.
$4,000. e'~ A@''if1
United States IS We're u per cent.
higher bid.
Following are the closing prices re-
ported by Prince & Whitley, bankers
and brokers, as Broadway, New York,
and Is Center street. New Haven: