The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-10-23
FimamrfaI.
Yesterdays Market a Drawn Battle Be-
tween Bulls and Bears.

Yesterdays Market Drawn Battle Be-
tween Bulls and Bears.
New York, Oct, 22-To- days stock
market was contest between profess
sional traders and the result shows a.
drawn battle between the bulls and the
bears, net changes being extremely
narrow in almost all cases. with those
on the side of gains very few. The
bulk of the days trading was done at
level of prices very materially below
that of yesterday. The opening was at
sharp declines in sympathy with Lon
don, at which point speculation was
very dull, owing to the hardening ten
dency of the money market and fears
OF impending stringency there. The old
Apprehension Of Spanish complications
was also used with good effect by the
bear traders. The declines of the morn
ing reached a point or over in a large
number of stocks including the leading
internationals, the grangers, Union Pa
cific and the southwesterns Union
Pacific was affected by the report of
the formation of an opposition syndi-
cate to bid for the property at the
foreclosure sale. The turn in the
market came with sharp recovery in
Chicago Gas on definite report from
Chicago that the control of the threat
ened opposition had passed to friends
of the company. This stock was quite
strong during the remainder of the day
selling at one time "a points above the
lowest. Sugar was also quite a strong
nfn vi i oh 1.,, v,;-
the estimated benefits to accrue from
countervailing duties on refined sugars
from foreign countries which pay a
bounty. Union Pacific also were reliev-
ed from the early pressure by state
Imentsfrom interests alleged to be iden-
titled with the opposition syndicate, de-
nying their connection with it. Recov-
cries at one time during the afternoon
were complete in almost all cases, but
prices fell slightly below the best and
below last nights close in the final
transactions. Transactions in Bay
State Gas were on a notably large
scale, very heavy blocks changing
hands. The fluctuations of the price
was limited to %. There were times
during the day when the market was
almost stagnant and there were no evil
dences of any outside interest in bust
ness. The money market tended to-
ward an easier tone, no call loans be-
ing recorded above per cent, though
the asking rate is still retained at "a
per cent. by some banks. To-morrow's
bank statement Is expected to show a
marked increase in the surplus reserve.
Over $5,000,000, which was received from
abroad last week, was not included in
last weeks statement. The weeks sub
movement have also resulted in net
gains to the banks. Outside banks
have continued to bid in this market
for commercial paper, which may have
led to a further decrease in the loans
of the banks. AS result of these op-
erations the statement is expected to
show a handsome increase in cash.
Business in bonds was quiet and
prices moved in sympathy with stocks.
but over a narrow range. Iron Noun
tain IS and Oregon Improvement issues
were notably weak. Total sales, ST.
1000.
United States new As registered were
81 bid, United States new As
registered coupons, Il, and the IS cou-
pons u.
Following are the closing prices re-
ported by Prince & Whitley. bankers
and brokers, 46 Broadway, New York,
and Is Center street. New Haven:
Il