St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-01-09
HOME INFLUENCES.
FOREIGN STOCK OPERATIONS DID
NOT AFFECT AMERICAN DEAL
INGS.
SHARES INCREASE In VALUE.
HEALTHY TONE TO SPECULATION,
WITH LITTLE DECLINING
ACTION.
CHANGERS AND CoALERs FIRM.
Easy Terms for Call MOney-No De.
mand for Loan Certificates
Bonds Stronger.

NEW YORK, Jan, S.-The local stock
market today cut loose from the for
elgn influences that have recently af-
fected it. The speculation was de-
cidedly less feverish than heretofore
and the volume Of business showed
diminished activity by the bear lead
ers. Previous to the opening the Lon
don cables reported increased tension
in European political circles and frac-
tional declines in American securities
at that center. Nevertheless home
prices moved sharply upward during
the first hour of business, with the ap-
probation most marked in the grang-
ers, Louisville & Nashville and the
high-priced Industrial shares The
market was strengthened by the re-
ported deposit of 100000 in gold IN ex-
change for greenbacks by the Fourth
National bank. 1t developed later that
the gold was simply deposited for eX-
animation, and would not figure in the
treasury reserve. The absence of ap-
plications for clearing house loan Ger
tificates by the banks, and an easy
condition of the call money market,
also had a favorable effect
The market received a setback after
IL o'clock on selling on both accounts,
but the bulls soon reasSerted them
selves and the upward movement was
resumed around 1 o'clock under the
stimulus of sharp advances in the an
thracite coalers. The improvement in
this group was inspired by the formal
announcement that the Delaware &
Hudson Canal company would main
tain the per cent annual dividend
rate on the stocks in the current year.
1t is officially stated that the COM
pany earned in 1895 about 61a per cent,
and that the deficiency will be made
up out of the surplus earnings. The
~-E% IL
had been alleged that the company re-
ferred to, in common with the other
coalers, would, on account of the poor
condition of the anthracite industry
last year, fall severely below the nor
NAL dividend amount. 1t is understood
that the largely increased earnings of
the railroad almost counterbalanced
the falling off in revenue in the coal
department. In ordinary years the
result would be reversed.
Sugar was manipulated upward, partly in
connection with a resolution Of the stock
holders at the annual meeting today ratify-
ing the policy of the management. Aside
from the coalers the improvement in the act
i've shares ranged from to 2 per cent. The
grangers were bought freely for local and
count, on reports of a freer movement of
corn. A feature of the marke: lending
strength to the general market tone was a
revived sharp inquiry for investment bonds.
but 5000, 900 in coin was withdrawn presume
bly, for Canadian account The total amount
Of gold deposited at the subtreasury was S7Uo-
co., none of which, far can be learned,
for treasury reserve account. In the late
dealings there was a sharp reactioI, in which
liquidation in Manhattan caused q drop of
8 q per cent to 81. The other losses extended
to IL per cent in Lackawanna. The closing
was heavy but at general net advances.
The railway bond market showed decided
strength throughout the day liberal gains he
ing noted in many issues. The Reading
classes were the leaders in activity and i'm
provement figuring for s1,075,006 out of a
total of S. 100000 for today. Southern 5s i'm
proved per cent, but subsequently reacted
~ on foreign offerings. The gains extended
to "a per cent in Chesapeake & Ohio t1ss
The total sales of stocks today were III 800
shares including: American Sugar, 2s, so;
American Tobacco $780, Atchison, 3,zt0;
Burlington, $500; Chicago Gas, $500; General
Electric. $500; Louisville & Nashville, 5000;
Manhattan Consolidated $500; Missouri Pa
cifc $500; Reading, $500; Rock Island, 200;
st. Paul, $780, Southern railroad. AGO; do
preferred, $500; Tennessee Coal & Iron, 1900;
United States Leather preferred, 1880; West
Union, 1900
The following table shows the fluctuations
of the leading railway and industrial stocks