The herald., 1898-09-28
$2,66O
1900
ON CHANGE
Conditions as Shown by Transactions
on Wall Street

| NEW YORK, Sept. 21-Transactions in
the railway and miscellaneous market
showed better distribution today and the
pence in the trading than for some time
Speculative sentiment became decidedly
bearish over night, and the bears adopted
what appeared to be we'll outlined PLAN
| during the day. Tobacco was utizted as
level to initiate the drive, but after the
price was jammed down 51 points, to-
1924. the stock met support and recovered
| ma terially. The bulls endeavored to stem
| the downward rush by working up Sugar
and Manhattan, and succeeded in steady
ing the list. The beans, finding considera-
Bile opposition in Tobacco, turned their at
tendon to Sugar, and after creating demor-
| alization there, took up other prominent
specialties into camp one after the other
and soon had prices tumbling all around.
The tactics of the bear faction disconcert-
ed the bulls, who. after apparently resist
ing. the. decline and forcing a rally in q
leader, had to meet fresh assaults ON ar-
other stock. with the result that the mo-
mentary advance was soon lost. Rumors
concerning individual properties were set
afioat and sdderable discussion aroused
| over the movement tn Tobacco. The gen.
orally accepted theory was that some pow
erful interest was letting go an extensive
line of this stock and the absence Of de-
ing the past few days facilitated the ef-
forts of the shorts. Opera tons in the in-
dustrias were conducted with considerable
confidence by the bear contingent, and their
success in reaching stop-loss orders EN-
courageh them to attack railways.
Northern Pacific, In which dealings have
been on a large scale recently, was picked
| out, and a two-poin't break followed A
| liberal amount of long stock from tired
| holders came out in the grangers and the
| trading became quite exciting during an
| interval In the afternoon The list stendied
occasionally, but an attempt to boost prices
was accompanied by semi-stagnation. Late
| in the day prices hardened ON the August
| st atement OF the Northern Pacific, which
| showed an increase In the total net ln-
come OF $217 ,543 Atchisons report for the
| same period, which developed later, indi-
Gated falling Off In net earnings Of $43S TO,
| and the beans renewed the attack, with
Anal figures at about the lowest. Sugar,
after improving to 121&, encountered heavy
realizing orders, and on the way down con-
siderable stock came out around the even
| figures, which eventually put the price to
11IM. Subsequent fluctuations were quite
| feverish and the stock closed at 118
There was am absence of naws bearing
upon the property, aside from the usual
opposition figures.
The money market was less active today,
| and rates ruled ait 264 per cent, with tn &
| minimum figure prevailing at the close.
Time contracts were without essential
change, and there was a not able shrfnka ge
In the offerings of prime mercantile paper.
Operations in bonds were centered among
the usually active issues. and prices fell
off substantial fractions in some cases.
Total sa'S.s, 81 .626, 900.
| Goverr4hent bonds shaned In the gerNera
weaknlas and the old fours reacted u per