St. Paul daily globe., 1896-02-08
STOCK MARKET In POINT of
ACTIVITY.
LOWER PRICES IN LONDON
FOR AMERICANS AND FREE SELL
ING BY FOREIGNERS DE-
PRESS LOCAL MEN.
SOME TALK OF THE BOND ISSUE,
But Apparently the Street Bases It's
Calculations From n Discour.
aging Standpoint.

NEW YORK, Feb. 7.-Today's stock mar
ketket was quite irregular. The volume of
business was about the same scale as
yesterday, and Sugar and st. Paul were again
the leaders In point of activity, although
there was today disparity of over 10000
shares between them in favor of the first
mentioned stock. Lower London prices for
Americans and free foreign selling here again
exerted depressing influence upon the local
speculation. The dealings were for the most
part governed by the professional leaders,
whose tactics were more clearly evident in
the manipulation of the industrial shares,
On the other hand there was good investment
buying of some of the other railroad stock,
ana particularly OF the shares of the corn
carrying roads. Commission houses were
in receipt of orders for Rock Island and Bur-
l1ngton, and the discovery of this fact in
duced respectable amount of covering by
the shorts. The street was furnished with
great deal of technical calculations and
deductions on the subject of the outcome of
the government bond issues, mainly of a dis
couraging import, but the sentiment of the
Hnanclal community at large is that the
credit OF the government has been mapnif-
icently vindicated by the wide distribution
OF the bids and the high average Of prices,
especially as the allotments of bonds to Eu-
rope VIII be relatively inconsiderabe as COM
pared with the aggregate of foreign bids.
The declining tendency evident in the early
dealings was checked by adroit manipula-
tion of the industrials and general improve
ments resulted, although the edge Of the
advances was taken off by realizing sales
me purchasing movement gained fuller
headWay in the afternoon dealings, Sugar be-
ing the pivoted stick, rising about 8 per cent
on very heavy trading.
Distilling attracted attention by an ad-
vance OF IA incidental to the news of the
practical completion of the plan of reorgani-
zatlon. Other notable gains were scored by
IL
few other prominent shares. Tobacco was
the exceptionally weak feature of the market
towards the close, declining per cent on
heavy offerings on revived rumors of i'm
pending hostile action toward the company
by the New Jersey legislature. A report
that the state authorities of Illinos had re-
affirmed their opposition to the plan of con-
soidation of the Chicago Gas companies was
followed by decline of about point from
the highest in the stock, but part of the loss
was recovered later. The close was active
and heavy in tone but net results general
gains Trading in railway mortgages on
large scale, the Readings footing up s2,213.
600. Higher prices prevailed, with the North
ern Pacific issues strong features at gains
OF los per cent.
Government securities were irregular in
the early trading, but closed steady. There
were heavy transactions in the new coupon,
aggregating S275 900.
Sales of stocks today included: American
Sugar, G7, 200; American Sugar preferred,
1900; American Tobacco, 21,100; Atchison,
800; Burlington, $500; Chicago Gas, 800;
Distlling and Cattle Company, 2O,6OO; Gen
eral Electric, $780, Louisville & Nashville,
10100 Missouri Pacific, II, 400; Northwest
ern. 4,4OO; Reading, 10000; Rock Island, H.,
O0O ST. Paul, 25 600; Silver Certificates, TO-
900; Southern Railway. 340O Southern Rail-
way preferred, 6,000; Tennessee Coal and
Iron, 1900; Union Pacific Certificates, 4,300;
United States Leather, $780, United States
Leather preferred, 5000; Wabash preferred,
$500; Wheeling & Lake Erie, 1900.
The following table shows the fluctuations
of the leading railway and industrial stocks