The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-02-11
STOCKS AND BONDS,

New York, Feb. 9.-Ihe stock market
continued today to feel the infuerce of
the bear aggressions in Industrial Stocks.
but the general list did not respond so
sharply to this depressing effect and rail-
way shares held their own fairly well,
in the face of market tending down
ward. That the market is largely given
ever to the Industrials is shown by the
fact that considerably more than half the
total shares traded in were those of few
high-priced Industrials and more than
third of the sales were of Sugar stock
alone! The movement resulted in q de-
cline in Sugar of 2 ID per cent; Tobacco,
Rubber preferred, 2 Sd per cent and
Leather, per cent. All of these stocks
suffered in common from the continued
effects of investigations by the legislative
committee into the trusts, still proceeding
in this city. Suger was further affected
by continued reports from Washington
that protection on sugar was likely to be
impaired Ey approaching tariff changes
Whatever affected Sugar, Immediately
and inwardly affected all the other In
dustrial stocks through sympathy. To-
trading, other than done in Industrials
was almost wholly professional and the
market for these securities was stagnant
and seemingly waiting for Developments,
though Of what is not clear to any OBJ
server. If the waiting is for coming
tariff changes. it is strange that orly the
properties which will be Immediately af-
fected by those changes ale dealt with
in any volume Money was almost a
slut in the market, however, end specu-
/, Iation was almost at a standstill. 1t is
certain that spectators are waiting for
some development. There were signs to-
day that some encouragement was felt
ever the general trade outlook and over
the prospect for railways. In spite of
the depressing influence in the market:
drive was made at the lndustrials and
the stagnation in the London market
ever the European political situation was
exhibiting some frmness and even ad-
vancing on the day. The enormous sale
of print cloths at Fall River yesterday
was no small factor in the hardening
tendency of the general list. The hard
ening tendency did not altogether hold
against the downward tendency in In
dustrials and railways were also some
what affected by the news of the dis
ruption of the ST. Louis East Bound Traf-
fc association by the notification of with
draWal received from the Cleveland, Gin
cinnati, Chicago and st. Louis. The
losses in the railway list were irregular
and only fractional, except in the case
of Kansas and Texas, which lost point.
Lake Shore was notable exception to
the general trend of prices and improved
1 IA per cent Other movements of
stock were Manhattan | IL per cent de-
cline, later recovering / pei cent on ex-
PLANTATION of benefits of the property from
che preferred plan to have the Brooklyn
Elevated and surface companies cross
the Brooklyn bridge. The bonds of the
Brooklyn Elevated roads rose on this,
Union firsts and Brooklyn fifsts and sec
onds gaining 3 per cent. Illinois Steel
sold down on rumors of conflict in the
management and the less satisfactory
conditions in that trade, but later re-
covered on official statements denying
any conflict in the management or that
any startling developments would occur
at the annual meeting tomorrow. Con-
solidated Gas yielded ! pei. cent OH re-
ports that a bill was introduced at AL
bany for municipal investigation to as
certain the feasibility of city ownership
Of gas plants. Reading was more active,
losing 7-S per cent and Reading hrsts !
per cent on the uncertain conditions of
trade and liquidation in the high-priced
coalers, which moved in common with
the general list. The closing of the mar
ket was with slight changes either way
i'm the prominent railways.
The bond market generally showed an
improved tendency and although heavi-
ness was apparent in some of the specu-
Iative bonds, the general trend of prices
was towards higher plane, with chances
very significant in some of the Investment
properties. Sales, $1,923,OOO