The daily morning journal and courier., 1897-10-15

whenever the bears renewed their raid aud apparently the desire to sell only cleared when the bears ceased in set ting the example by short selling, Chi cago Gas continued to occupy by far the largest share of attention and rang ed over 45s points during the day.
 Large supporting orders were in the market, at, the opening, so that the. initial sale wastat a fractional advance over last nights close. But this was the highest quotation of the day and the majority of the dealings were at a level considerably over a point below last nights close. Sugar. which came next in point of activity, was also under very heavy pressure and declined at one time three points below last nights, level.
 The tirmest tone of the market dur! ing the day was in the last hour and it looked as though prices would be allowed to recover to within trac- ton of last nights close, but a renewed drive. in the last ten minutes of trad ing knocked the toilsome climber again. Net losses ranged from 1 to per cent. in, the most active stocks in the list. The southern railroads and the south westerns and some of the coalers show ed the greatest weakness in the rail- road list. Manhattan was also quite severely handled. There was no reflec- tion of any development in affairs of the day in the course of prices, the mar ket being wholly professional.
 The fact was demonstrated with suffi- cient ciearness that yesterdays recov- cry was not resumption of a sus tained upward course of prices, but was simply due to professional manipulation to force a covering of the short con- tracts which had been freely put out for a day or two previously. The gold which was shipped from Europe last week began to arrive to-day, SPOOL being deposited in the assay office and $550,0 in the clearing house vaults.
 The money market continues easy though with no appreciable changes in rates. Sterling exchange was steady in spite, of the advance to 3 per cent, in the Bank of England's rate of discount. No further engagements of gold for import are announced, but they are considered likely before the week closes and the sharp fall in the rate of ex- change on Paris leads to the supposi- tions that the next shipments will be , from, there.
 The trade statement for September is sued by the government makes it like ly that the excess of exports for that north will be found to foot up $55,000,- 900 against nearly s41OOo, ,OOO for August and over $17,00000O for July. The de- layed cotton movement which has not 1 yet attained it's full force insures an l additional heavy trade balance in favor of this country for the current month. | The movement of gold for the season | is therefore considered certain to be very heavy unless the rates for money in foreign financial centers shall ad- vance so far as to make it more profit able not to draw on these foreign cred i it's for gold shipments.
 Dealings in bonds were on a reduced
 scale and the tone was weak though { fluctuations were unimportant. To
 tai sales $1, $500
 United States old fours were advanc.
 ed A bid.
 1 Following are the closing prices re-
 ported by Prince & Whitely, bankers
 snd brokers, 46 Broadway, New York
 and i5 Center street. New Haven: