The daily morning journal and courier., 1898-01-15

gressed the lack of sustaining power in the strength of special stocks, which has been the marked characteristic of the market for several days past, came to be more and more felt. The disposi- ton to watch closely for signs of a re- action became more marked and the final hour saw very general throwing over of holdings by professional trad CTS. There was no special news to ac- count for the break and 1t was probably due for the most part to technical con- dltions. Stocks which have been prom inent for strength recently were con spicuous in to-day's break by reason of profit taking
 There was a feeling of more or less uneasness also over the tone of the news from Havana in regard to what is expected rather than what has happen ed. The fear that the Spanish govern ment's s scheme of reforms is on the point of breaking down Is coupled with the apprehension that the time Is imminent when intervention by the United States to save the island from anarchy will be imperative. The persistent weakness of Sugar more or less dominant fac tor by reason of the volume of trading in it, also helped to break the market. The opening strength was due to the somewhat feverish demand for local traction stocks, due to special causes, and to the execution of a large volume of buying orders for London account. Quotations came higher from London before the opening and probably 25,0OO shares of international stocks were brought in this market for London &C., count
 There were also commission house or ders, especially for investment demand in the gilt edged railroad stocks. The Vanderbilts, Union Pacific and the Northern Pacific stocks were not lack ing in continued strength. There were also sharp advances in New Jersey Cen tral and Peoples Gas. But the profit taking invited by the advances in spe- cial cases only served to increase the late weakness of stocks, which had fail ed to benefit from the early strength. As a conseQuence there was very gen. eral break ranging up to over points in Manhattan and over points in Third Avenue, Covering of shorts served to retrieve part of the decline, but net
 losses of a point or over are frequent all through the list.
 Money tended to become somewhat
 easier to-day without any actual change being made in the quoted rates for call | loans. There was a brisk demand, how ever, for commercial paper, which drove l the rates down to a range of to per cent for the choice grades. To-mor- rows bank statement will show a large | increase in the cash holdings.
 The bond market was active early in l the day, but became less active and re- acted slightly in the later dealings.
 Union Pacific and connecting line issues
 were strong. Seattle, Lake Shore and
 Eastern firsts, trust receipts, rose 7K per cent, but lost part of that. Other l active issues showed gains. The total
 sales were $4,260,000.
 | United States new As registered were | k lower bid, United States new As reg
 istered coupon and the old As registered
 4 per cent. lower and the 2s # per cent higher.
 | Following are the closing prices re-
 ported by Prince & Whitely, bankers l and brokers, 46 Broadway, New York
 and 15 Center street, New Haven. I MAI frf,t