The daily morning journal and courier., 1897-10-29
Finanlia1.
Yesterdays Stock Market Was in the
 Hands of Professional Traders.

Yesterdays Stock Market Was in the
 Hands of Professional Traders.
 New York, Oct 2S.-To-day's stock market was exclusively in the hands of the professional traders and con- tained nothing of significance in it's bearing on the general condition of the country. The professional traders livelihood is derived from a movement of prices of some sort, whether up or down But their profits in such a mar ket as to-day's are exceedingly precari- ous.
 The market was dull and the move- ment of prices was sluggish. Trading was almost stagnant at times. The traders did the best they could to in tluence prices by manipulative buying and selling and by dissemination of ru- mors of their respective hopes and fears. The only response of any mo- ment was shown in special eases, with slight sentimental effect on the general list. But the professionals were unable to secure any following, and in meeting their earlier contracts carried prices back to near the starting point
 One of the special stocks affected was Pacific Mail, which declined at one time 2A on account of the decline in earnings shown by its September state ment The stock recovered to within fraction of last nights close.
 Sugar, after a substantial gain, fell 21s points, but also recovered to a net decline of fraction. The coalers as a group were weak on the unsatisfactory condition of the trade. Notwithstand- ing recoveries near the close, their net losses were point or over. The grain carrying roads, on the other hand, dis played firmness, which was principally due to roseate forecasts of the Septem- Der earnings of Burlington, the state ment of which is yet to be published. By reason of this influence, railroads generally are fraction higher, except some southern roads and the coalers. while the industrials and specialties are generally lower. There was still some disposition to advance fears of the Cuban question as a motive for the selling.
 | Union Pacific was less active and was uncertain in it's movement on account of doubts of just what changes in the plans of the reorganization committee are involved in the advanced bid to the government. The doubt applies not 1 only to the plan of financing the new company, but to the ultimate disposi- ton of the Kansas division, which the committee professes itself willing to re- linquish to the government, so far as the subsidized portion is concerned. The stock closed 9s higher. The ar engagements for the payment to the | government and for the governments s | payment of bonds coming due on Jan uary 1 are also looked forward to with | interest for their effect on the money market.
 1 It is believed that the one wifi be timed to offset the other as far as pos sible, so as not to take so large an ! amount of money out of the market The amount to be paid to the govern ment will considerably exceed that to be paid out on this account. but the contiued excess of disbursements owe, receipts in the daily operations of the treasury will help to make this m If 1 is believed that any marked effect m the cost of money will thus be avoided
 Central of Georgia second income bonds declined 1s and the third in. comes a point. Kansas and Texas is. sues were weak. Dealings were not on a large scale. The total sales were s1 5S0,000,