The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-12-02
EtmaMeiaI.
Prices on Stock Market Tended, steadily
Upward Closed With Buoyant Tone.


nifcant Interruptions prices tended
steadily upwards all day on the stock
exchange, closing at about the highest
with very buoyant tone. Net gains
exceed a point in nearly all active
stocks. The advances at the opening
were trivial and trading was not very
active, but as the day advanced the
scope of the speculation broadened and
assumed a more aggressive and conf
Dental tone. The strength Of the
market developed first in Sugar and
spread gradually through the market,
separate stocks being advanced sharp
ly one after the other before the mark
ct took up the movement. Missouri
Pacific, American Tobacco, Michigan
Central, Illinois Central and Cotton Oil
preferred were among the earliest af-
fected in the order named. Later the
coalers developed strength, and it was
not until the closing hour that the
grangers and the market generally re-
sponded in any marked degree. Some
of the stocks which developed most ac-
tivity and strength yesterday were
somewhat neglected to-day while the
rest of the market rose to a proportion
ate level.
The bear element did not yield with
out struggle, and was not driven to
cover till late in the day, when the
scramble of the shorts materially aided
the rise. There was no news of import
ance during the day the bullish senti-
ment on the exchange being rather
crystallizing of several days impress
sions. The successful conclusion of the
| Rock Island refunding scheme contin-
ued to be much talked Of as did the
favorable railroad statements for Oc-
tober. The Burlington statement es-
pecially was interpreted more favorably
than yesterday the earnings reported
being exceeded only by those of Sep
TENDER of this year. The small excess
| shown over the earnings of October last
| year is due to the fact that last years
| earnings for that month were excep-
tionally large. The almost total subsi-
dence of apprehension over the Cuban
| question also had it's effect There were
some Weakening of outside interest man
ifest in the buying through commission
| houses. This was not on large scale,
however, and the days rise was for
the most part due to the operations of
| a powerful combined interest. The
| stock of the southern railroads showed
a notable tendency to lag. The Octo-
| Der statement of the Louisville and
Nashville probably had it's influence on
this group. showing, as it did, a heavy
decrease In net earnings, combined with
an increase in operating expenses,
which brought the decrease in net earn
ings up to $127S3 1t is significant of
the dullness of business that has
prevailed in Wall street for some time
past that a stock exchange seat which
was offered at auction to-day found no
bidders, and was bought in for SIT ,0C0
for the estate which offered it. It
should be stated in this connection that
| the ownership of a seat does not carry
with it membership in the exchange
without election, and that the custom
airy method of selling seats is through
the officials of the exchange itself. No
| impression was made on the money
market to-day by the periodical inter-
| est and dividend disbursements. The
bond market was notably strong and
very active, the speculative issues
showing notable advances. Total sales,
$4,000, 900
| United States new as advanced "a
| bid.
Following are the closing prices re-
ported by Prince & Whitley, bankers
and Is Center Street, New Haven.