The daily morning journal and courier., 1897-07-09
EtMaMcial.
Profit Taking Characterised Dealings in
 Yesterdays Stock Market.

1aKlhE pea1uRH III
 Yesterdays Stock Market.
 New York, July 8.-Profit taking was the order of the day in the stock mark ct. The sending of the tariff bill to con- ference ends the senate stage of the bill, the termination of which formed sub ject for speculation in the recent mark ct. The termination is regarded as a favorable influence on values, but hav- ing been previously discounted, realiz- ing sales were to be looked for in the natural order of things, The reaction did not develop immediately at the opening, owing to the sustaining influ- ences.
 The sugar refining industrys special interest in the tariff bill made that stock sensitive to Washington reports as to the chances of the schedule in con- ference. These reports varied all day as a matter of course, but carried su- gar up at the opening. The grangers and international stocks also opened an upward tendency. The former group enjoyed an impetus also from the an- nouncement by the refunding commit tee of the Chicago and Northwestern that the directors of that company had authorized mortgage for $165, ,OOO, ,000 to run ninety years.
 A marked improvement about the same time in a group of unusually in active securities due to market opera tions by an interest which has large holdings in each of the groups, was a further influence towards an advance as was the special strength shown in some other individual stocks These combined influences resulted in a rally after the first decline that carried prices generally to the highest of the day and St. Paul to S4ss, the highest of the pres- ent movement.
 The influences were of only temporary effect, however in checking the reac- tionary tendency in the market and, in fact, only served to accentuate the desire to take profits. The realizing was based both on the passage of the tariff bill by the senate and on the con- tinued belief in the continuation of the long turn the market has made on gen. eral conditions of business There were traders, also, who expressed their dis appointment that the presidents mes sage recommending a currency com mission had been deferred and that the authorization of the commission with the membership of the senate as at present was unlikely. Such traders gave these as their reasons for selling stocks.
 There was an increase of activity in the dealings over both yesterday and the day before, but quite one half of the dealings was absorbed by St. Paul, Sugar and Burlington. Chicago Great Western, Des Moines and Fort Dodge and Minneapolis and St. Louis were quite conspicuous and strong as a group. The first gained IF net and the second 2 points. East River Gas made an apparently sensational jump in the closing dealings to 79%, a net gain of 3K points, but 1t was refec- tion of a rise effected in outside trans actions on the curb. Laclede Gas gain ed 1ss and Laclede Gas preferred and Starch second preferred q point each. Otherwise losses of fraction were gen. eral all through the list reaching near a point in many prominent stocks. Su- gas lost 1&, Burlington 1h and Spirits preferred Rubber preferred and Vest ern Onion point each.
 The bond market lacked feature aside from some notable variations In the in- iustrial issues in which special infu- ences operated Tshe general market displayed hardening tendency. but the Improvements were mainly slight. The aggregate sales were T,653,000.
 Governments were easier for the new fours, but the other issues were steady. The sales were S2,500.
 Following are the closing prices re- ported by Prince & Whitely, bankers and brokers, 1s Broadway, New York, and 15 Center street, New Haven: Bid. Asked. Adams ExpreSs. lol lDD American Cotton on CO........ l3L 13x