St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-03-11
YESTERDAYS STOCK MARKET
LESS ACTIVE AND A PURELY
PROFESSIONAL AFFAIR
DISTURBED BY TALK OF WAR.
COURSE OF MONEY AND EN-
CHANGE MARKET.
TOBACCO is AGAIN THE STAR,
And Displays Exceptional Strength
and Activity-Sugar Is I'm
usually Quiet.

NEW YORK, March 10.-Today's stock mar
ket fell slightly below yesterdays record in
point of activity, and was a purely profess
sional affair. The debate at Washington over
the Cuban unpleasantness again overhung
the speculation, and the sharp talk by sew
eral of the senators had a disturbing in
fluence in Wall street. Apart from the Wash
ington war talk, another important consid-
Grafton is responsible for the continued in
disposition Of the outside public to make
venters in the stock market. This is the I'M
certainty that prevails in we'll informed
banking circles as to the immediate course
of the money and exchange markets. 1t is
claimed that the present easy rates for call
funds will, If continued, have the inevitable
effect OF advancing exchange rates to the
gold shipping points. There is reason to
believe that to preclude such a development,
the treasury department will call a sufficient
amount of the money due to it on govern
ment bond account now lying in the bank
government bond repositories to stiffen the
money market. This, of course, would i'm
mediately affect exchange rates. The present
speculation in Wall street is being conducted
almost entirely on call loans. Incidentally,
these conditions react upon the market for
commercial paper. The industrial shares
practically monopoliZed the attention of the
trade, and, as usual, the movements in these
mercurial securities were erratic. Tobacco
was again the star performer, and displayed
exceptional activity and strength on buying
for both accounts. An early spell Of weak
ness, involving decline Of r. was succeeded
by a sharp rally of 31s to 75B. Cotton Oil
common advanced 1k and the preferred "a
per cent on fairly good buying. Leather pre-
ferred, on the other hand, was affected by
renewed liquidation, and exhibited no buoy
ancy. 1t closed at net loss of rs per cent.
Boston was the largest seller. General Elec-
trio was active within a narrow range, and
closed unchanged. The recent bullish gen.
eralities in relation to the property continued
to be served. Sugar occupied an unusually
negative position, only 2, 400 being dealt in,
as against total of 80, 700 shares in To-
bacco. The general market opened firm and
fairly active. London quotations were slight
ly higher, although the business in Ameri
cans at that center Is at minimum. Ad-
vances OF IL per cent in posted rates for
sixty days sterling bills failed to influence
the market, and smart fractional advances
occurred in Burlington, Denver & Rio Grande
preferred and Missouri Pacific. The raid on
Leather preferred caused slight general
break, but on the declaration Of the regular
quarterly dividend on Manhattan and North
west preferred and recommendation by the
executive committee of the Western Union
Of the regular quarterly disbursement by the
full board tomorrow stimulated prices and led
to an advance in Manhattan of IL per cent.
The late dealings were quite irregular, as
was the closing Tone Final figures showed
fractional net changes, in most cases ad-
vances.
Dealings in bonds were a diminished
scale, but firm tone prevailed. Slight gains
occurred in several important issues, notably
in the Northern Paeifics. The aggregate
transactions were 81 ,292, 900.
Government bonds were firm on a fairly
large business, and total sales were $136, 900.
Sales of stocks today included American
Tobacco, &c. 400 Burlington, $500; Baltimore
& Ohio, 1000; General Electric. 13, 900: Louis
willie & Nashville, 800; Missouri Pacific,
$500; st. Paul. 7,4Oo: silver certificates, 10000
The following table shows the fluctuations
of the leading railway and Industrial stocks
yesterday:
Open High Low Clos
ing. est. est. ing.