The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-12-30
RALLY In STOCKS
INDUCED BY FREE SHORT COVER
ING AND MORE CHEERFUL.
WESTERN NEWS.
ACTIVE In THE FINAL HOUR.
GENERAL LIST CLOSED STRONG
AND AT THE DAYS HIGHEST
PRICES.
LONDON A MODERATE PURCHASER.
The Execution of Buying Orders for
Foreign Account One of the
Favorable Factors,
A MODERATE PURCHASER.

NEW YORK, Dec. 29.-The stock market
today failed to display any improvement over
the recent light records of business. A
stronger tone was apparently chiefly due to
covering of shorts. There was a continued
absence Of commission business, and the rally
was inspired by more cheerful advices in
relation to the Western bank situation, a
reported easier trend to money in London
and a weaker tendency in the market for
foreign exchange. In few of the more &C
tive specialties manipulation for rise was
evident and favorable sentiment also resulted
from moderate purchasing orders for foreign
account. Despite the heaviness of exchange,
experts expressed conflicting views to the
immediate movement of that market. The
point Of uncertainty is the amount of ex-
change that has been boarded and the prob
able extent Of renewals of maturing loans in
the coming month. The preponderance Of
opinion is, however, in favor of lower ex-
change notes. Their was but little news of
Importance bearing upon the market, the
action OF the court in granting a temporary
injunction restraining the payment of the
Manhattan dividend not being known in the
street until after the close of business. Bust
ness was extremely dull during the forenoon,
but in the afternoon session degree of COM
parat1ve activity was reached. Manhattan
and Tobacco covered wide range, but left
OF at net improvement of %GD1 per cent. In
connection with the last mentioned company
the old reports Of a probable entente, or at
least a compromise being reached between
the conflicting interests were employed. Read
Ing displayed heaviness around midday on
realization, but a decline of about point
was subsequently fully recovered. Delaware
& Hudson broke per cent on rumors of
divided sentiment among the directors re-
gard1ng the dividend policy. Up to this time
LQer6 mas not been r9liahla Indications
OF a change Of programme although 1t Is an
open secret that the company will show less
tnan per cent earned for the year. The
stock made recovery of a point. The gran
In particular demand in the late dealings,
ana averaged gains of l per cent. The
closing was strong at the best prices.
The bond market displayed decided strength
In the prominent issues, but among the
usually neglected bonds some material declines
occurred, including Atlantic & Pacific 6s, 10
Per PC cent; Central Georgia IS, s. Brooklyn
trust receipts, "a; L. &. n. IS, 2, and
Scioto Valley and New England As, 1 per
cent. The principal gains were Flint &
and Great Northern firsts, IL; Kansas &
Texas seconds, 1as; Erie General As rs, and
Atchison Adjustment As, Northern Pacific gen
erals, Kansas Pacific IS of 1896, trust receipts
Oregon Short Line IS, trust receipts, Knox
vile & Ohio firsts and Northern Pacific con-
sol 5s, trust receipts, 1 per cent. The total
sales were S1,15O,000. Government bonds tend
ed upwards on O moderate investment in
quiry. Transcontinental, $27, 900. State Sc
cur1tieS were easier sales of $26 900. The
total sales of stocks today were 10S ATS shares
including Tobacco, 74oO; Sugar 12,70O; Bur-
lfngton, 1900; Manhattan, 1900; Reading
5000; st. Paul, 1880; w. & L. E., $1,000
The following were the fluctuations of the
leading railway and industrial shares fur
nished by G. H. F. Smith Co., members
New York stock exchange and Chicago board
of trade.