Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-10-26
MARKET REPORTS.
NEW YORK MARKET.
The Features Of the Days Dealings in All
the Leading Stocks.

New York, Oct. 25.-The conviction
that a rupture in our relations with
spain Will ultimately result from the
cuban question, the danger that the
Union Pacific reorganization plan will
be upset by the governments desire,
to postpone the sale, and dhe weakness
in New York Central due to yesterdays
disaster on it's line, combined to break
the stock market. today, and democrat
ized prices throughout the list The
lower prices for American securities in
London and the decline in the price Of
Spanish AS there of half of one per
cent. to 591s, We're accepted as meas
ure of the apprehension felt there as to
the harm that would be done to values
by the threatened rupture.
The opening showed sharp declines
in the International stocks and the
specialties and by noon losses of d
point or over had spread to practically
every active stock in the list. There
was lull in the activity of the liquida-
ton at that time and a steadying of
prices based on hope that the su-
preme court would hand down a favor
able decision in the Nebraska maxi
mum freight rate case and that prices
of railway property would tend to i'm
prove as a result. A sharp rally 4
Chicago Gas helped to steady the list.
but the afternoon was given to alter
nate periods of active liquidation and
fast falling prices and of stagnation
and slight rallies.
The announce of the government s
decision to apply for postponement OF
the foreclosure sale of the Union Pa
cific and Kansas Pacific properties
brought out enormous liquidation of
Union Pacific stock. There was no
check apparent in the liquidation or in
the fall in the price of result of an an
nouncement of recognizing committee
that it intended to bid in the Union
Pacific main line if need be for the full
amount of the governments claim.
This would involve an increase of sS.-
100000 over the latest upset price which
the syndicate agreed to insure the gov
eminent, and of over ST., 0O0, 900 over the
price fixed at the time the present re-
organization plan was agreed upon.
The purpose of the reorganizing COM
mittee to divide the reorganization of
the Union Pacific main line and the
Kansas Pacific into two operations
failed to quiet the doubts of those who
have speculated in Union Pacific on the
basis of the present reorganization
plan.
The days net decline in all the ac-
tive stocks ran from l per cent. to owe,
2 per cent. and in consolidated Gas
reached 51s per cent.
Railroad bonds We're weak in SYM
pathy with stocks Total sales, were
$1,610,000 United States new As and
the SIS reg. were advanced X bid.
New York. Oct. 25.-The Union Pacific
reorganization committee. today, made
the following announcement:
THE attorney general has notified this
committee that he proposes to ask the
court for an adjournment for the fore
closure sales of the Union Pacific and
Kansas Pacific railway property on Dec.
Is. so as to postpone disposition until
after Congress shall have met. This ac-
ton is no doubt taken to free the admin
istration from embarrassment.
THE reorganization committee has.
however, reached the cinclusion that the
interest of the security holders represent
ed by it. and of the syndicate furnishing
the funds to finance the reorganization
without any further delay. In this situa-
ton. the committee contemplates, SO as
to gain prompt possession of the Union