The San Francisco call., 1897-03-17
NEW YORK MARKETS.
Financial.

NEW YORK, n. Y, March 16-The sensation
of the day in stock circles a break In Missouri
Pacific from / 9 to Is on unusually heavy trading
The o.d report of receivership was freely circu-
lated, but this time the rumor was met with a
most emphatic denial on the part of the president
Mr.. Gould, in statement published shortly after
the stump denied absolutely that a receiver would
be appointed and also expressed his Willingness to
cash coupons of the company at their face less
the usual rebate at the rate OF per cent per
annum. He also said that the earnings of the
road were improving. In his opinion, the attack
on the and the reports of a reCeivership were
the res 1t Of desire on the part of the bears to
cover short sales on other stocks. The denial
alarmed the shorts, rush TO cover followed and
the stock bounded up TO 1894 closing at that
hgure.
Wabash stock and bonds declined In sympathy,
but the general market held remarkably well
throughout the raid In fact as the dav ad-
vanced. railway and industrial STOCKS ga hered
strength aud near the close the best figures for
long time past were recorded in many Instances
The confident buying these issues was the
subject OF much comment and had q great deal 10
do with the firm front presented by other railway
stocks. illinois Central which has been dormant
of late, had spurt of activity, and in buying for
both local and foreign account advanced about 3
points to e634. In the af ernoon session Manhat-
tan and Western Union were conspicuous aid
meved up ~ per cent each 10 S714 and S6A re-
spectvely. Covering OF short contracts accounts
for the improvement
In the industrIals sugar was traded in ex-divi-
depd of per cent. The stock was sold down to
III IS and rose to 35S Rubber preferred was in
better demand on the denials Of the reports or a
in the trade Speculation clostd strong in
tone. Total sale, were 239,1 81 shares, Of which
$4,000 were Missouri Pacific So 100 sugar, $500
st. Paul and $500 Omaha.
Bonds were strong Saies footed up 81, 81 0, OOO
A.c.ison. olorado and Pacific skies. rose /: I:
Mon Pacific sinking fund certificates ]. Missouri
Pacific issues were heavy and ia sympathy with
the drop in the stocS. The collateral trust fives
offered down from 20 TO so and later sold q {
So. The consolidated skies were offered at 80
against S2 The last sale before to-day.
In Government bonds $1,000 registered fves
sold at Il41A $1,000 registered fours of 1907 at
III and $lUO0 do coupons at 1914.
Grain
FLOUP-Dull, steady Winter wheat, low GRADES
81 3093 30: do fair to fancy, SO 1904 so; do
patents. S4 60@6; others unchanged: Minnesota
clear, S3 40@3 80; do straghts, $4@4 20: do
patents, $l@4 so; low extras. So 9O@3 35 Rye
mixture, 81 SU03 20: superhne, $2@2 80; fine,
81 95@2 rs
Southern -four steady. dull Common 70 fair ex-
ira, 81 20(93 30; good TO choice 30 60@4
Rye -four. quiet and weak ut 81 50GZ rs.
CORNMkAL-Quiet unchanged Yellow, west
ern. 81 I0@l So
RYE-ouiet, steady. Western. 47iAc@471a.
C i. T. Buffalo.
WHEAT-spot market dull, 1Ac lower. e. o. b.
s55sc; ungraded RED, 70@s4c: No. Northern,
S46sc
options declined "a ale: rallied sl@lc; fell ~,