St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-21
HAD A BETTER TONE
CONSIDERABLE INCREASE IN BUsI-
NESS SHOWN IN STOCKS YES
TERDAY.
Renewed FOREIGN BUYING
HAD MUCH TO Do WITH STRENGTH
ENING THE SENTIMENT FOR
SPECULATION.
RESULTS OF THE BOND LOAN
VIII Surpass Expectations-Reha cha
Utilization of Northern Pa
cific Factor.
RESULTS OF THE BOND LOAN

NEW YORK, Feb. 20.-The stock market dis
played considerably improved tone today.
Business was upon an increased scale, and the
dealings were fairly we'll distributed. The
speculative sentiment, aside from the purely
local factors, was unfayorably influenced by
renewed foreign buying of our securities,
which was reflected in sharp advances in the
international stocks. The change of front
abroad is due to variety of considerations.
1t is recognized that apprehensions which bore
heavily upon our speculative markets month
or two ago are entirely dissipated. The
prospect of financial legislation during this
session of congress is remote, and in Europe
as well as in this country a decidedly en-
larged estimate from previous calculations as
to the net gold results to the treasury from
the government loan are made. 1t is now fig
ured out that the proceeds of the sale of the
bonds may bring the reserve up to about $780,
900 900. Treasury officials express the opinion
that practically all the bond payments will
have been completed by the middle of next
month. This theory, if justified, narrows down
considerably the chance Of danger of disturb
ance OF the money market. Today'S Specua-
ton undoubtedly received some impetus from
prominent local banking interests, and rumors
OF progress making towards the rehabilitation
of the Northern Pacific company eXerted con-
siderable influence. According to the best au-
thority, however current reports purporting
to forecast the details of such reorganization
are largely conjectural. 1t can be stated that
chiefly for the reason of the legal obstacles
still existing. AT the outset, general frac-
tionaI improvements in prices occurred, fol-
lowed around midday by recesslons on realiZ-
ing sales. The upward trend of prices was
soon resumed but the gains were not of espe-
cial Importance until the last hour, when the
purchasing movement attained full force.
The commission houses report increased bust
ness, covering number of hitherto neglected
shares, and shorts contributed to considera-
BILE extent toward the rally Continued strength
and activity in the QOVernmpnt bond market
was again a feature, the new coupon As rising
to lis, on large transactions. The gains at the
top level, in the active list, extended to rs per
cent in Louisville & Nashville. In the mac
tive shares, Erie common and preferred rose
~ and per cent, respectively. North Amer
lean exhibited unusual ripple Of activity in
the late dealings, rising u per cent on trans
actions of 1900 shares. The management is
understood to predict that the company at an
early date will show all debts cleaned up, and
a handsome cash surplus in addition. Ann
Arbor advanced per cent. The closing was
strong at general fractional net gains.
The railway bond market exhibited ANNA
ton and strength The gains were widely dis
tributed. The Northern Pacific issues were
again conspicuous for activity and improve
ment. On the other hand Oregon Improve
ment consol 5s, trust receipts, made decline
of 81 per cent to 2512, with subsequent rally
of 2 per cent. Oregon Navigation IS, trust re-
ceipts, dropped 4ss to 921s, but recovered to a..
The aggregate sales were So, 339 600. The net
gains were material in many instances and
extended to 3 per cent in General Electric de-
benture 5s. The strength of the government
bond market was undated, with the new cou-
pom As the features. The aggregate sales were
$685., 900.
Sales of stocks included: American Sugar,
Is, 400; American Tobacco, 1920; Burlington,
10000; Erie $500; Louisville & Nashville, H.
500; Missouri Pacific, 3,40O; Rock Island $780,;
st. Paul, "a, 400; Southern preferred, 1900;
Union Pacific certificates, 1O100; United States
Leather preferred. 400; Wabash preferred,
400; w. L. E., $780,
THE FOLLOWING were the fluctuations in the
leading railway and industrial stocks yester-
day: