The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-11-19
nj. St0inort & Sons,
777 Chapel Street.
POPULAR SONGS, A GM From
POPULAR SONGS MmSN MApKED
POPULAR DANCES A Em pPTrF
POPULAR DANCES, DIN &A

volve the matching of the buying or
ders with a corresponding selling or
der for the purpose or attracting out
side buying or selling, the net result,
in the absence of outside operations, is
very close to nothing. Sugar displayed
some speculative strength on account
Of buying attributed to Washington
account and Consolidated Gas flashed
up and down in it's customary meteoric
style, jumping at one time six points
and reacting IL.
The coalers were weak on rumors
that there were obstacles in the way
of the proposed agreement to restrict
the output. Although speculative buy
ing was so restricted there continued to
be some good buying Of the very high
grade bonds whose security is of the
best, though with low return Of in
terest. This class of buying is a natur-
al outcome of the easy condition of the
money market and the doubtful OUT
look for speculation. Bond houses re-
port that there are quite large offerings
of these bonds for foreign account, the
foreign holders being tempted by the
high range Of prices for them existing
in this market 1t is quite possible
that this class of selling for foreign
account has much to do with keeping
up the rate Of exchange IN the face
Of conditions that would tend to weak
en- it and in spite of the tendency to-
wards ease in the rates for money in
London. The trade balance in our fav-
or for three months, including October,
is nearly $165 900, 900. London has been
buyer in this market of low-priced
speculative securities during the last
few weeks, as 1t was to-day.
Foreign capital is known to have
quite a large interest in the. Union Pa
oific reorganization syndicate and pay
ments from abroad in proportion are
due in this market. The operation of
borrowing money on sterling exchange,
which tends to keep UP the rate of eX-
change, has apparently ceased. The
continued maintenance of the rate of
exchange above the gold import point
under these circumstances is not easy
to understand, but sale for foreign &C
count of high grade investment bonds
would aid in explaining it. A report
from Chicago that there is talk of a
reduction in interest rates on bank
balances to IL per cent. shows that the
abundance of money extends to the in
terror. The imminence Of the first pay
ment of nearly $13,0o0o0O by the Union
Pacific committee to the government
has made no impression whatever on
the local market. The days returns
of railroad earnings all continued
markedly favorable, notably in the
case of the Southwestern and for
western railroads and of the soft coal
roads. Reports from the west tndi-
cate that the large earnings are due in
! no small part to the west bound move
| ment of merchandise showing the ac-
| tivity of general business. With the
sales of Sugar deducted the total sales
| of all stocks for the day would barely
reach 100000 shares.
| Bonds were more active in proportion
| than stocks and Improvement was
shown in the high grade issues. Total
sales, 100000. United States IS reg
| istered declined Il bid.
| Following are the closing prices re.
ported by Prince & Whitley bankers
and brokers, 46 Broadway, New York
| and Is Center street, New Haven: