The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-09-23
Ffnauc1a1.
There Was sharp Recovery in the Prices

| New York, Sept. 22.-The result of to-
days transactions on the stock ex
change is the recovery of the greater
part of the losses sustained in yester-
days sharp reaction, many stocks clos
ing tonight higher than Monday night
During the early part of the day the
market was extremely irregular an6
uncertain in tone, q number of the
specialties continuing to show marked
weakness even after the railroad list
recovered from it's reactionary tenden-
cy.
But by the second hour Of trading the
bears had practically abandoned their
! efforts to work a reaction and the
whole market was tending strongly up
wards. The manifest disposition OF
London operators and of commission
! house customers to buy stocks at de-
cline here afforded a support to the
market that discouraged the bears.
The nervousness over the hardening
of the rates for money also largely
subsidized as the shifting of loans de-
veloped more accurately the true level
! of the money market The rates for
call money continued to run as high as
a per cent. but as fast as rates were
marked w to 4 per cent there was
| abundant supply afforded as low as 2
per cent This was not regarded as in
| dicating a stringent condition of the
market The higher rate was not felt
to be justified by the condition Of the
market and the failure of the exchange
market to respond with any marked
weakness to the per cent asking rate
went to confirm the same view.
There was a marked reaction at one
time during the day due to the sharp
profit taking in Rock Island on the an
| nouncement of the declaration of a 1
per cent. quarterly dividend The re-
cent sharp rise in Rock Island was ac-
companied by some irresponsible ru-
mors that the dividend rate would be
increased to per cent. Some of the
| sellers of the stock protested disap-
pointment that the rate was made only
per cent. and the bears used this as
material for drive against the market
But the strong. recovery In Consoli-
dated Gas and Brooklyn Union, the
former rising II points and the latter
6& tended to steady the market. The
reports of an engagement of gold for
import were vague and not definitely
confirmed until the close of the market,
but the rumors current served to rally
the whole market strongly and bring
prices to the best of the day at the
close, the net gains in all the active
stocks ranging from l to 2 points, For
eign bankers are generally agreed that
there is no profit in the importation of
gold at the ruling rates of exchange
here and Of gold abroad and the bank
ing house which has engaged the gold
for import intimates that they have
been able to do so, owing to some spec
ial advantage secured, though it was
affirmed that it was made in the regular
course of exchange business The en-
gagement is not considered as indicat
ing that further movement of gold
will Immediately follow without a. fur
ther decline in the exchange market.
The most marked net gains during the
day were: Consolidated Gas SIX, Brook
Ign Union Gas 5s4, Sugar AZ, Sugar
preferred ~, Brooklyn Transit 2ss, New
Jersey Central 3as. and Northwest
Omaha and Susquehanna and Western
preferred "a each.
The bond market showed some fall
ing off in activity, but prices were
strong except in the Standard Rope is
sues. Of these the IS lost points and
the incomes rs. Total sales were 81
800, 900.
Following are the closing prices re-
ported by Prince & Whitley, bankers
and brokers, as Broadway, New York.
and Is Center street, New Haven:
RID a,l-.1