Show i GAINS ARE WIPE OUT Advance In Stocks Comes to a Sud I I den Close LIST SHOWS A DECLINE PALL I PHICES FHQM HIGH PRICES 3A3KED Belief elt Over the Prospects of Bestored Kates on Western Beads c Special Strength I U Pond lYEarket ISroad Active land Strong 1 New York Dee 2The character off of-f the buying of the last few days was disclosed by todays result on the stock exchange The day opened with every demand appearance of yesterdays sharp mand for stock being in force The lower prices from London were Ignored and large orders placed on special in the stocks caused sharp advances whole market The amount of commission commis-sion house buying indicated a considerable consider-able awakening of outside interest The buying of the Grangers Sugar and Union Pacific was especially bold and confident and by the close of the first hour the market had become very buoyant and some sharp advances in prices had been obtained GAINS WIPED OUT Then without any diminution of activity ac-tivity it became evident that the advance ad-vance in prices had come to a stop and that a heavy realizing movement was in progress When Sugar fell a point and the genera gen-era list showed an actual decline the market became dull and efforts were made to rally it by pushing up the prices of special stocks The bear added the pressure of short sales and before long had succeeded in wiping out almost every gain on the lst Net losses were not large in any important case but the fall in prices from the high point was marked EFFECT OF GOOD NEWS The news of the day was not im l i portant in its relation to the stock s p J market and such as it was it was favorable f fa-vorable The forecast of the presidents presi-dents message sent out by the Associated Asso-ciated Press had a reassuring effect Relief was felt over the prospects that western railroad rates would be shortly short-ly restored Reports that an adjustment adjust-ment was probable between the government gov-ernment and the Union Pacific reorganization reorgan-ization committee over the Kansas division di-vision of the road gave special strength to Union Pacific and was a sustaining factor in the general market There was some selling of stocks for London account but it was without much effect acount fect and was about concluded by the time the reaction set in in this market mar-ket ketThe The market for bonds was broad active act-ive and strong Sales for the first hour footed up to a value of over 1500000 Total saes for the day were 4690000 United States bonds were steady and unchanged MONEY MARKET < ki Money on call easy at ly2 percent f per-cent last loan 1 closed I12 percent I per-cent cent Prime mercantile paper 33V percent per-cent Sterling exchange steady at 4S5j 485 for demand and 4S3483 for 60 days posted rates 484 and 487 commercial bills 482I Silver certificates 5960 bar silver ver 514 Mexican dollars 46y Government bonds firm state bonds dull railroad bonds strong SALES OF STOCKS Total sales of stocks today were 443 900 shares including Atchison preferred prefer-red 8440 Chesapeake Ohio 7600 Burlington 41CG5 Louisville Nash vilie 8610 Manhattan 8185 Missouri Pacific 25325 Missouri Kansas Texas Tex-as preferred 3105 New Jersey Central 4975 Northern Pacific 4810 Northern Pacific preferred 13825 Rock Island 3598 St Paul 44895 St Paul Omaha Oma-ha 5570 Southern Railway preferred 5925 Union Pacific 14634 American Tobacco 13860 Bay State Gas 5320 Chicago Great Western 17390 Chicago Gas 48920 Sugar 75432 Western Union 447L BONDS U S n 4s regl2SiN Y Cent lsts119 Do coup12sN J C 5s 113 US 4s112No Pac Ists l Do coup114 I i Do 3s 571 Do 2ds 9SM Do 4s 93 1 U S 5s rcg11414 Nor W Gs 111 Do 5R poiin THV Nwest consols 143 Can So 2ds L10G1 Do deb 5s11G D R G lstslOSyO Nav Ists115 D R G 4s S9O Nav 4s 92Vi > Gon Elec 3100 0 S L 6s t r124 H T C 5s112 0 S L 5s t r 551J Do con Gs 105 O Imp Ists t r100 1C P Con t r SOX1 Do 5s t 1 42V K P 1st Den Reading 4s S5 Div t r12 IR G W Ists 8511 La n cons 4sllOfil Union Pac 102 ½ fI K T 2ds 6 U P D G j Do 4s S7 lath 49 NEW YORK CLOSING STOCKS 49 I Atchison 1 Rock Island S9Y Preferred 2S ½ St Paul S3 I Can Pac SOl Preferred 141 dies Ohio 214Tex Pac 1111 I I Chi AltonlGl iVnion Pac 25V I Chi B Q StWi U P D G 73 1 Del Hudson 109 Wabash 7 i 1 J r DeV L Wl51 1 Preferred 4 I 18 ½ D R G l Adams Ex150 k Preferred 45 American Ex 118 Ft Wayne 1G93 United States 40 Gt Nor prefd130 Wells Fargo 110 Illinois Cent 102Col F Iron 21 Lake Shore 172 ½ Preferred SO Mich Cent103 Gen Electric 3 MoR T 1 Lead 31 Preferred 31 Preferred 104 I I N T Central 861 Ore Imp Co 1G N Y Central107 Pullman Pal 172 I 1 NCr West 13t Silver cert 79 ½ No Pacific 19 Standard Rope Preferred GW Twine 41 O R S N 3G Sugar 138 ½ O S L 1S4 Preferred 113 Pittsburg 107 = 4 R G W 2 Reading 21 Preferred 5 NEW YORK MINING STOCKS Chollar 40tphir G Crown Point 10iPt mouth OS Con Cat Va 1 OOjQuicksilver 1 0 Gould Cnrrie 15 Preferred 9 0 Hale Norcross 1 Sierra Nevada 50 Homcstako 3 OOStandard 1 40 Iron Silver 20Union Con 2 Mexican 27jYcllow Jacket 2 Ontario 2 501 |