The daily morning journal and courier., 1897-12-10
Etnanctal.

Bull Contingent Meets With Some Formi-
 dable Obstacles in Efforts to Advance
 Prices. l.a.
 New York, Dec. 9--The bull contin- gent met with some formidable obsta- cles in their efforts to advance prices of stocks to-day and the greater part of, their success was achieved at the industrial speciaIties. The manipula- tion in the case of these stocks was very open and palpable, but some sub stantial gains were shown by railroad stocks on the. firm basis of increased earnings. There were number of stocks also which were persistently heavy in tone and required vigorous support to prevent the spread of weak ness through the whole market. This was notably true of Sugar, which ruled for some time below yesterdays closing price and fell at one time to the extent of point. London was a very large seller of stocks on balance in this mar ket and the volume of sales on that account is estimated at as high as 40 900 shares, embracing all of the interna- tiona1 stocks. Union Pacific fell IF on, the resolution of the senate to postpone the Kansas Pacific sale. Manhattan Northwest and Northern Pacific and some other less prominent stocks show ed a. heavy tone during the whole of the early part of the day. These causes together with the inertness of the granger group were a persistent drag on the market. The latter part of the day saw very animated contest be- tween professional traders for the con- trOl of the market. The stocks of local transit companies were pushed up uni fornly to a higher level on the strength of tips" that the underground rapid transit scheme would fail of endorse ment by the courts and by reports to the comprehensive amalgamation of local transit interests. Manhattan was the leader of this class and rose 2a, but all the stocks in that group of se- curities showed sharp gains The bulls accorded the same method of treatment to the Vanderbilt group of stocks a little later and raised nearly all of them from 1 to points. Finally Northern Pacific preferred was taken in hand and lifted out of an early depression by a renewal of reports of an approaching dividend declaration on the preferred stock. These last named changes were facilitated by the return from abroad of an influential factor interested in those properties. The net result to show a very irregular range of changes. In the majority of standard railway shares which were left free from manip ulation the changes are small, though gains approaching a point are shown in some of the southern railroads which are showing good earning capacity. Quite a number of small losses are shown. In the specialties on the other hand including Manhattan, Tobacco. Leather preferred, Rubber preferred, Brooklyn Transit, Metropolitan Trac- ton and a number of the Vanderbilt's gains extend from 8 point to 25s, the latter in Manhattan.
 The bond market continued active and broad, some notable gains being shown in special cases and the level of prices throughout the list showing q material advance. St. Louis and San Francisco trust fives are per cent. higher. Mobile and Ohio fours rose 256 per cent. in accord with the rise of 4b in the stock of that company Mis- souri Pacific bonds were all strong. the collateral HNeS IlSInS ] per cent, fur ther. the consol sixes and the trust fves 1A. The total sales reached a bar value of $9, ,SO0,OO0
 Government bonds were strong all around. both the old and new fours advancing 4 bid and the lives E bid.
 Following are the closing prices re- ported by Prince & Whitely, bankers and brokers, 46 Broadway, New York, and 15 Center Street, New Haven:
 Bid. Aske1.