The daily morning journal and courier., 1898-02-02
FtmaitctaI.
Stock Market Has a Load of Liquidation
 f. fn Carrv

| to Carry. New York, Feb. 1.-The stock mar ket to-day had a load of liquidation to carry still heavier than that of yester- day, and there were fewer prominent stocks to exert sustaining force by special strength. The heavy offerings were we'll absorbed and net declines and for the most part confined to frac- tions, but are very general. For a time after the opening there seemed to be no illumination from yesterdays ac tivity. There had evidently been a large accumulation of outside orders over night, and London was also a buyer of stock. This demand was sat | isfied, however without effecting any marked advance in prices, the offer ings being very large. Later prices began to yield under the weight of continued offerings, but the pressure was not great and the market fell into dullness, holders apparently being con-
 tent to await a rally to continue the
 liquidation. The rallies were helped
 by the continuing strength of num-
 Der of stocks, especially Union Pacific and all it's securities. The strength
 of these gained during the day and this
 stock closed at the highest at net
 advance of over a point. Baltimore
 and Ohio showed early weakness, but
 rallied 2% on an unauthorized asser-
 ton that the reorganization plan had
 been agreed upon.
 Upon the denial of this the stock fell
 away, but closed with a small net gain. The Ohio soft coal roads gave evidence of strength on the better outlook for
 the coal traffic and reports of an agree
 ment among them for it's distribution. Des Moines and Fort Dodge made a conspicuous movement of 3% per cent. There were some very marked gains |also among the usually dormant stocks such as Great Northern preferred, Chi
 cago and Eastern Illinois preferred,
 Cleveland, Cincinnati, Chicago and St.
 Louis preferred, Adams Express and Susquehannah and Western preferred.
 There were periods of strength in oth-
 CT stocks during the day, notably the
 local traction companies, Western
 Union and General Electric, but the
 order of the day was profit taking and
 this tendency extended even to North
 ern Pacific preferred, upon which there
 was quarterly dividend of per cent
 declared late in the day.
 London bought some stocks early in
 this market, but sold more later, which
 probably had an influence in giving a somewhat stiffer tone to the exchange market. It is to be noted, however that a part of the cash from the interi. or which is being received in New York is due to remittances on account of
 Australian gold received at San Fran. cisco to the order of New York houses There was a noticeable growth of ac. tivity in the commercial paper depart. ment of the money market to-day, the supply showing a decided increase, bu
 rates.
 The rates for call loans worked to z lower basis in spite of the withdrawa of the second ten per cent. installmen of the governments deposits of tn, Union Pacific payment. This with drawal was called for tomorrow, bu most of it was made to-day.
 In the bond market the Kansas Pa
 cific consols were the most conspicuous feature, with an advance of S3s De cent, to 110B. Other bonds of tn ' Kansas Pacific advanced 1 to point on the belief that they would be in , cluded in the Union Pacific reorgani zation with or without an arrangemen l with the government. The bond mar g ket generally showed continuance O activity and prices continued to ad l vance. The total sales aggregated St, . 140, 900.
 United States new fours advanced ] = bid, the coupons ex-dividend
 TO LEAD
 Following are the closing prices re y ported by Prince & Whitely, banker 0 and Brokers, 46 Broadway, New York
 and 15 Center street, New Haven: