The daily morning journal and courier., 1897-11-09
E Eimalclal.
Prices Fluctuated Widely Showing Fever
 ish Tone of Speculative Mind.

lsn IOuc or SpeculaLlye Mlnd.
 New York, Nov. s,-Prices of stocks fuctuated very widely and very easily ltraversing a range up and down many times in the course of the day. This in- dicated a feverish tone of the specula- tive mind, a readiness to dispose of holdings on slight intimaton of possi- ble unfavorable developments and an equally nervous anxiety or the part of short sellers to cover their contracts on any appearance ofia hardening tenden- cy in the market. The most formida- ble event in the days happenings so far as any effect on values was concerned was the further postponement of the announcement of the supreme courts decision in the Nebraska maximum freight rate case, which had been con- fidently expected to-day. There has been assurances felt in Wall street cir cles that the verdict in this case would be favorable to the railroads, but if favorable verdict had been announced to-day profit taking would probably have led to declines in the stocks af-
 
 led to the circulation of rumors that the verdict would affirm the validity of the contested statute. This rumor in- duced much selling. Special weakness was induced also in the coalers by the very discouraging reports of the condi- tion of that industry due to over pro duction, cutting of prices and the per sistent mild weather. There was not lacking the stoak Spanish war scare, which was made to do duty again to- day. These demoralizing factors did not begin to be felt until some slight improvement over Saturdays close had been effected in prices, Sugar leading the way. There was n notable inn provement, also from the low point be- fore the close of the day due to cover ing of shorts and on a supreme court decision against the interstate com merce commission as to the regulation of rates under the long and short haul clause where water rates are in compe- tition. In consequence of this rise at the opening and improvement at the close net declines are much diminished. Spirits preferred was the first stock to exercise an unsettling influence on the market with a slump of 6A points on news of the failure of the Kentucky Distillers' combination. New Jersey Central registered an extreme decline of 534 St. Jose and Grand Island 1st pre- ferred 5, Delaware and Hudson and Manhattan 1 each, Sugar 45s, Omaha and Lake Shore 3a, Cotton Oil, Leath- CT preferred, Pittsburg, C., c. and St. Louis preferred and Illinois Steel from to 31a each, and Burlington, Pittsburg C., c. and St. Louis, Chicago Gas, Mis- souri Pacific, Reading 1st preferred, Illi- nois Central, Northwest and other prominent stocks from to 27B, the lat ter in Burlington, as being largely af- fected by the Nebraska maximum freight law. St. Paul was quite nota- bly firm on London buying and a num- Der of other stocks were also bought quite steadily for London account at the decline. Sugar was very active throughout the day and was quite sen sitive to attack Detroit Gas was a notable exception in the weakness of the list with net gain of 71a points. Cotton Oil gained 21s net.
 Bonds were weak in sympathy with stocks, but steadied later in the day Total sales, $1, 550,0 900.
 United States new As declined E bid and the 5s registered s and the 5s cou- pons F.
 Following are the closing prices re- ported by Prince & Whitely bankers and brokers, 46 Broadway, New York and Is Center street, New Haven: