The daily morning journal and courier., 1898-02-03
Etmamctal.
Market Again Under Liquidation and Ex-
 ceedingly Uneven

S@1N'HS'y cHeVens
 New York, Feb. 2.-The stock mar |ket was again under liquidation to- day, but the strength of some special
 stocks and manipulated advances of others made the market exceedingly
 uneven, There were numerous halts
 in the liquidation during the day and
 partly successful attempts to achieve
 rallies, so that the day was one of con- Istant changes, some stocks mounting
 upward strongly while the market was
 tending downward. There was every evidence of continued heavy selling to
 take profits in some of the prominent
 stocks in the recent speculation, nota- bly Northern Pacific, Union Pacific land the Vanderbilts. Quite a large el- ement of the professional traders sold the market with a good deal of vigor land confidence. Nevertheless, offer lings were very well absorbed and most of the net losses of the day are confin- ed to fractions.
 The early transactions showed posi- tive strength under a combination of influences. Among these was consid- erable buying for London, and espe- lcially of Ontario and Western There was quite large volume of buying or lders from commission houses also dur ling the day.
 1 The new securities of the Union Pa lciffc company in the unlisted exchange advanced with something of a rush over the opening prices and imparted I strength to the whole market BAlti- r, ,Na napt over yesterdays high point. With the execution of the accumulated buying orders, the bearish tendency of traders grew and obtained the ascendency.
 There were various reasons given to account for the decline. Among them was the cutting of rates between Min lneapolis and Chicago and the apparent lhopelessness of agreement as to rates on the expected Klondike business. The grangers showed themselves es- pecially sensitive and were hurt also by a growing apprehension over the outcome of the Nebraska maximum freight rate case, which is awaiting de- cision by the supreme court. Great Northern preferred added six more points to it's advance of yesterday, and Tits subsidiary company, Manitoba,
 Minnesota Iron and number of inac- tive stocks showed marked advances.
 The Reading stocks were strong on
 rumors of the sale in London of about $6, 0O0, ,0OO of the conpany's bonds. Nor folk and Western preferred gained sharply on the dividend declaration.
 Notwithstanding these exceptional elements of strength, the general ten dency of the market was towards
 weakness Rumors of losses sustained
 by a local bank through judicious loans encouraged the reactionists. The rates for exchange hardened a shade on in vestment demand, induced by the low rates for money, which continued to
 work to an easier basis. The days exchanges at the local clearing house
 went to the enormous total of $204, ,221, 1925, refiecting some very heavy finan- cial operations. The details of these could not be ascertained.
 The bond market continued strong on a large volume of dealings The Kan
 sas Pacific consols were decidedly un- settled, first advancing fraction, then reactng to 1O9 and later going to 110A.
 a net loss of 1s. The total sales were $5, OO0OOO
 Following are the closing prices re-
 ported by Prince & Whitely, bankers and Brokers, 46 Broadway, New York, and 15 Center street, New Haven. Rid AukaJ