The San Francisco call., 1897-10-26
NEW YoRh STOCK MARKET.

NEW YORK, Oct. 25.-The conviction that a
rupture IN our relations with spain will ultimately
result from the Cuban q 1estion the danger that
the Union Pacihc's reorganization plan will be
upset by the Governments desire to POSTPONE the
sale, and the weakness in New York Central due
TO yesterdays disaster on Its line, combined TO
break the stock market to-day and demoralized
prices throughout the list. The lower pnces for
American securities in London and the decline in
the price OF Spanish As there of ~ per cent TO
5S1s were accepted a. means ofthe apprehension
let heTe as to the harm that would be done values
by the threatened rupture.
The opening showed sharp declines in the n .er-
natlonal STOCKS and specalles, and by noon losses
OF point or over had spread TO practt ally ever
active stock in the list. There was a luII in the
activity of liquidation ana at that time a steady
ing OF prices based on hope that the supreme
Court would band down favorable decision in
the Nebraska freight case ard that prices OF
raj way property would tend improve as a re-
sMt. sharp Tahv in Chicago Gas on the an
nouncemeht OF the declaration of the regular
diVliend he ped to eady the last. The announce
ment OF the governments decision apply for
postpohement OF he foreclosure sale of the Union
Pacific aud Kansas properties brought ont eno--
nous liquidation OF Union Pacific stocks.
here was no check apparent in the iauid ation
or fAIl In prices as result or the announcement OF
the reorganization committee that it intended bid
ding he main line in raid the full amount of
the Governments claims This would involve an
Increase of $4,000. 900 the latest unset price
which the syndicate guarantee O insure The fiov-
ernment and is over S12.OO0.UUO over the price
hGed at the time The present reorgs niZation plan
was agreed upou The purpose OF the r-orsaniza-
Union Pacific main line and the Kansas Pacific
into two operations tailed TO quiet the doubts Of
those who have speculated in Union Pacific on the
basis or the Huntington reorganization plan.
The apparent intention of the Government o
reltgate the whole matter TO Congress awakens
fears among holders OF the shares Iha; dela ay viii
attend completion OF The reorganZ alton. The
government second mortgage tn. Kansas Pa
cifc for about Sl4,O0OO0J is unprovided for and
the reorganization committee the stand In at
the Government will be allowed TO bid the pro D.
erty IN If IL Is not willing to the bid OF the
committee. The fear that his would endanper
the plan of reorganization evidently augmented
the selling The sales of the stock itut ed an
eighth Il the total transactions of the dav
sharp advance of 5s IN the actual rates for de-
mand STERLING exCh hauge was a feature of the day
ana was d reflection of the rising rate OF discount
IN London and o the dlscountIng of accumulat-
ing sterling bills here.
halroad bonds were in sympathy with stocks s.
Total sales we're 81, 8 0O0U
I nlted ola es new fours and the fves registered
were ad vanCed
The total sales Of stocks today were 3s9 2O6
shares, lncluuins: Atchison referred $685. ohrsa.
psAke ana ONO 37OO G. G. C. and T. l. $3.50,
Manhattan 1880, Missouri Pacific 1880 New
YORK central ll.413, Northern Pacific 1898 q
preferred lZ43l. Northwestern 3z95 Reading
$3.50 Rock Island 1915, st Pau 81 o55 81 PM
and Omaha 35O5, Southern hallway preferred
4OtO Il mon Pacific Second assessment paidl
So 409, American Tobacco 1902, Bav tate q as
1920, Chicago Gas 46.33l. sugar 4l335 II a.
and l. 3l35 Chicago 6 eat Western sl4U