St. Paul daily globe., 1895-05-13
MARKET WAS WELL HELD
GRADUALLY GAINED STRENGTH,
THOUGH LONDON WAS A ~
SELLER.
FOREIGNERS CHANGED FRONT,
Causing a Buoyant and Strong
Closing-Grangers Well in
the Lead.

| the week received fresh impetus, ana
| higher range of values was established
| Notwithstanding the fact that at the
| opening London was a seller and thai
| local traders were realizing profits, the
| market was well held and gradually
gained strength, the foreigners chang.
| ing front and becoming good buyers
| In the last hour the speculation was
very buoyant in tone, and closed
strong with prices generally at the
best of the day and of the week. The
grangers are 14Q1A higher, the latter
Burlington, Central Pacific, 11s; Erie
and Northern Pacific, 1; do preferred
2as; and Wabash preferred and Cord
age Guaranteed, 1A Canada Pacific,
Distilling, Denver preferred and Pitts
burg and Western preferred, III; Bal
timore & Ohio, 2; ST. Paul and Duluth,
21a; do preferred, 5; st. Paul & Omaha
preferred, 21a; Sugar, "a; Mexican Ma
tional construction 8, and Oregon Navi-
cation AZ; Great Northern preferred
closed at 12o bid, against 112 at the
close yesterday Duluth, South Shore
& Atlantic common and preferred lost
/ per cent each and a few other shares
are a fraction lower on the day. Pa
cific Mail opened 1 per cent lower on
the announcement that the negotia-
tions with the Panama Railroad COM
pany had been abandoned, but the de-
cline had been fully recovered at the
close. 5is
The past week has been a notable
one in Wall street by reason Of the
great activity Of the stock market,
the wide distribution of the business,
the material advances recorded and the
large buying for the foreign account.
Another prominent feature was the
decentralization of the sterling eX-
change market, rates at the close
showing reduction Of I'd in both
long and short bills. The trading was
at lines attended by considerable eX-
citement ana the short interest in the
market was frequently forced to cover
without regard to the prices at which
purchases had to be made. Sales to
realize profits were about the only de-
pressing influences except that occas-
ionally the bears endeavored to ham
mer down groups Of stocks such as the
coalers and grangers and individual
securities by unfavorable reports af-
fecting these properties, but these raids
proved Intellectual. The market was a
rising one, and after every reaction a
higher level was quickly established.
The buoyancy of the dealings can be
attested by the fact that some ninety
shares touched figures higher than
have been made at any time since
January /. The commission houses re-
ported food of orders from the more
prominent financial centers of the
country. Manipulation was plainly
t., anf Nf
stocks, including Sugar, but the char
acter of the general news in circula-
ton was of such a nature as to in
spire confidence The sharp recession
in the rates of exchange led to talk
of gold imports in the near future.
TIL more important advances are:
Great Northern, Is per cent" Oregon
Navigation, 12; Flint & Pere Marquette
pfd, s; Baltimore & Ohio, 7ss; Metros
politan Traction and Chicago & East
ern Illinois, 6; do pfd, Az; Denver &
Rio Grade pfd, 5%; do common, 2;
Northern Pacific pfd, 51s; do common,
2ss; Burlington, Erie Telegraph & st.
5; do common, 81; st. Paul & Duluth
pfd, 5; Louisville & Nashville and
c. & o., 4%; Illinois Central, Az; Union
Pacific and Iowa Central pfd, ~;
do common, 2; Western Union, 49s;
Canadian Pacific, Az; New Jersey
Central, ST. Paul, M. & M, a; Nickel
Plate first pfd, 4; do second pfd, .2A
Atchison and Lake Shore, 3%; Read
ing, 6as; Missouri Pacific and Min
nesota & ST. Louis pfd, 31a; Rock
Island and Wabash pfd, 9A do COM
mon, 2ss; New England and Pacific
Mail, 31s, and Sugar Mexican Ma
tional Construction, Big Four and
Consolidated Gas 8 per cent
The only declines of Importance
were: Bay State Gas 21s per cent
and Pullman 11a per cent. The sales
of the week aggregated 2,450,000 shares
and 155 stocks were traded in.
The bond speculation today was ac-
tive and buoyant with sales of 3d.
269,O0O The only decline above a frac-
ton was 1 per cent in Chicago lists,
while the chief gains are: Union Pa
cific, AZ; Trust receipts, 4: do Den
yer & Gulf lists, 8; do Lincoln and
Colorado lists, 21s Atchison, Colorado
and Pacific lists and Atchison, 3; Ore
Omaha and st. Louis lists Trust re-
ceipts, 2ss; Ohio Southern Ists, 2;
Pacific lists, 51e, and Atchison, Jewell
& Western lists, 19 per cent
Declines: Cordage lists, per cent,
and Ohio Southern lists, g. r.
During the week the trading in
mortgages was on scale of mammoth
100000, a total which has not been
reached in any one week for years
past. The largest buyers were the for
eigners. The dalings have been char
acterized by marked buoyancy and
material advances have been recorded
in most of the securities dealt in, the
distribution Of business being wider
than usual and extending to bonds
which have not been traded in for more
than year. In all 277 mortgages were
dealt in.