The Saint Paul globe., 1896-11-10
FIGHTING THE RISE
ROOM TRADERS TRYING TO STEM
THE BULLISH TIDE IN
STOCKS.
INACTIVE LIST A FEATURE.
THE DEMAND FOR LOW-PRICED
SHARES.
INACTIVE LIST A FEATUR
YESTERDAYS DEALS IRREGULAR
Fractional Gains in the General
Active List With Material Ad-
vances in SpeciaIties.

NEW YORK, Nov. 9.-The broaden
ing character of the stock market and
especially the materially increased
activity in low priced and usually neg
lected shares continues a decided fea-
ture and gives the leading and old time
bull appearance. The room traders
have been fighting the rise, but at
every occasion, new buying orders ap-
pear in large volume and with not
ably heavier commission house bust
ness reported. The inquiry also extends
to the investment and speculative is
sues Of bonds, the underlying factor
being the more cheerful sentiment re-
garding the financial and general busi-
ness outlook and the increasing ease in
the money and discount markets. The
rising tendency is also stimulated by
the continued strength of the wheat
market. The railways as a group by
far overshaGowed the industrials to-
day in extent of business although
| activity was noted in Sugar and Chi
cago Gas.
The market was irregular in the early
dealings with an easier tendency, due
to realizing, together with decided
exchange. The rates for actual ster-
! ling ware advanced 1hc to S4.S6A and
$4.83 for short and long bills by some
drawers, and posted figures were sue
cessively put up a cent on the day,
to $4.83A and $487. The easier money
rates here and a hardening tendency
abroad, covering of sterling loans, pay
ments for gold and mercantile remit
tances, and the effect of recent sales Of
our securities by foreign holders, are
variOusly attributed as the factors in
the present upward movement in ex-
change. Rates for prime mercantile
paper fell today IL per cent to 51a per
cent as the minimum figure and six
months and year money was freely
offered at 1905 per cent. A decided
favorable influence upon the general
market was exerted by the exception
ally large bids for the $16, ,000, 900 of New
York city bonds reported
The stocks of the soft coal roads in
the Ohio region improved materially
on the news of the efforts that are to
be made to bring about an agreement
and restoration of prices and trans
portation rates. The general market
moved in erratic fashion owing to
efforts of sold-out bulls to force a lower
level.
The movement in the railways was
narrow, but the early recessions were
subsequently more than recovered 1r.
sympathy with the buoyancy in the
low priced shares. Northern Pacific
preferred, Colorado Fuel and Hooking
alley attracted attention and Consol-
iGated Gas displayed exceptional
strength on buying set down to in
vestors. The anthracite coal stocks
were stimulated by the general bullisli
temper, more on the strength of ex-
pected combinations than Of the trade
conditions which are said to be unsat-
isfactory. Exceptionally wide fiuctua-
tions were noted on small transactions
| III Buffalo, Rochester & Pittsburg pre-
| ferred. which rose per cent. Chicago
| Gas fell per cent on realizing, but
later recovered most of the loss The
| closing was strong at the best prices
! Of the day. The net gains in the active
| list were maintained fractionally, but
! ranged up to per cent in the special
! ties.
The railway bond market continues
| 10 display decided strength on heavy
transactions, purchases by the foreign
| arbitrage houses being a fea-
ture. Large blocks of specula-
! tive bonds changed hands TODAY
and keen inquiry was also noted for
| gilt-edged investment bonds. The
| market embraced many Of the usually
inactive lines. Louisville & New AL
! hany consols SKIES advanced 31% t.
! 80 on the announcement that an agree
ment had been reached between the
reorganization committee and dissent
| ing bondholders, whereby interest on
the $4,700000 of new bonds which are
| to be given in exchange for consols
| fours, advanced to per cent The
! improvements in the active issues were
mainly fractional, but material ad-
vances were noted in the usually mac
| tive bonds. Northern Pacific and Mon
| tana frsts rose 4 per cent The sales
were So, 900. The total sales oe
stocks today were 410S46 shares, in
Guiding Sugar, 29,700; Burlington, "a
400; Chicago Gas, $500; General Elec
trio, 10000; Louisville & Nashville,
$4,000; Manhattan, 1900; Missouri Pa
ci1c, $780, Northern Pacific preferred.
1t,200; Reading, 45,20O Rock Island,
1l,7OO; st. Paul, 249OO; Tennessee Coal
F! & Iron, $500; Texas & Pacific 10000;
| Union Pacific, 11,9OO; Western Union,
1900; Wheeling & Lake Erie $500;
| Wheeling & Lake Erie preferred, 450j,
Southern, 8,100; Southern preferred,
$500; silver certificates, $1,000
| The following were the fluctuations of the
! leading railway and industrial stocks yester-
/ dow Estf ~