The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-10-27
fluctuations In frlces Was Narrow and
Very Irregular.
HIGHER QUOTATIONS. IN LONDON
outside OF tho Grnngcrs, Sugar, Chico
eEe Gas nnd Bny state Gas, Bust.
ness Was of Very Small Proper.
ions-The Governments ma the
reorganization Committee OF the
Union Pacific.

1NS" oIhp oC(ODer Z0.-1padlnw In
stocks during the early part Of the day
was restricted In volume and the fluc-
tuat:on In prices was narrow and irreg-
ular. The latter part of the day saw
quite an increase in activity, and 4 rise
OF E.iccs 20 the highest of the day, the
declines before the close being Small.
Union Pacific continued to be the CEN
ter of interest in the market and ruled
above, yesterdays close all day and
closed this afternoon at near the best
and ~ above last nights close. The
opening gain was largely due to SYM
pathy with London. which sent a higher
quotation for the stock. The belief gain
ed ground as the day advanced that the
government and the reorganization
committee would come to an agreement
on the basis of the committees express
ed intention to bid the full amount OF
the government claim on the main line
The fact that this bid leaves the govern
ments claim of over S13,000,000 on the
Kansas Pacific unprovided for and the
rumors that increased bids might be
made by other interests which would
provide for this indebtedness caused
some feverishness in the speculation at
this time, as the accpetance of such q
bid by the government would endangcr
the whole plan Of reorganization in spite
of the assertion of the committee that
they were prepared to carry 1t out even
II the government should bid in the
Pacific But later In the days reports
from Washington assumed quite def
mite form that the Cabinet had resolved
to accept the committees intended bid
as minimum guarantee and withdraw
:hcir request for n postponemcnt Of
foreclosure sale of the main line.
fall of BIZ points in the price Of
Kansas Pacific consols skies trust re-
ce!pts was the forecast of the news re-
ceived later from Washington, that the
committees agreement with the gov
eminent included an assent to a post
poncment of the Kansas Pacific sale.
presumably with view to giving the
government an opportunity to secure
bid on the property that would provide
for a part or the whole OF It's claim.
AS the chances for separate bid on
the Kansas Pacific arc considered re-
mote the price of the IS rallied G per
cent.
Trading in Union Pacific absorbed
over quarter Of the total sales of all
stocks. Outside of the Changers, Sugar,
Chicago Gas and Bay State Gas. bust
ness was of very small proportions. The
tone of the market was strong. however,
and material recovcries from ycstcv-
days decline were made averaging
about q point in the Changers and other
leading stocks. Bay State Gas was
weak. A decline in rates for call money
and some very favorable statements Of
railroad earnings for the third week in
October assisted the recovery. There
were purchases for London account of
some Of the favorite international
stocks, incident to the settlement day
on the London Exchange. This served
to keep up the price of Louisville in
spite Of continued decrease in It's earn
ings on account of yellow fever quartn-
tine. PittsiburE. c.. {. '& st. L. was
active and strong and rose at one time
per cent, but reacted slightly. Mich
igan Central was conspicuous for an
advance of 2A. The better tone for
Americans in London was taken as q
rejecting decline of apprehension over
the Spanish relations With the United
States.
Dealings IN railway bonds were not
large but the tone was firm with the
exception Of the Kansas Pacific bonds
above noted. Total sales. S1.150,00.
United States new As were advanced
"a bid. The total sales of stocks today
were DAG 700 shares