St. Paul daily globe., 1896-03-04
PRICES ARE IRREGULAR AND
PRACTICALLY DICTATED BY
PROFESSIONALS.
SMALL BUSINESS WAS DONE
TOBACCO GOES DOWN A PEG ON RE-
PORTED FORMATION OF AN
ANTITRUST.
And Most of the Stocks Rise Slightly
Above the Figures of the Pre-
cedinG Day.

NEW YORK, March 30.-The share specula-
ton today was comparatively dull, business
being about one-third less active than yester-
day. The course of prices was irregular and
was dictated entirely by the professional deal
ers. A feature of the days operations was
variety Of gossip almost entirely concerning
the industrial shares. London was not a con-
siderable factor; its operations being limited
and the orders about evenly divided between
both accounts. The initial prices were irreg-
ular owing to lower London quotations for
Americans, but the market soon proved SUI
perior to this influence and took an upward
trend. General Electric advanced Ia on the
news of an important decision by the United
States supreme court, favorable to the COM
pany in a long-contested suit. Sugar gained
point, partly on covering of shorts and cart
ly on account Of advances in various grades Of
foreign sugars. The grangers and information
al shares also made substantial fractional ad-
vances. In the frst-named group, some sig
nifcance attached to the fact that St.
Paul crossed Burlington in price for the first
time on record. The advance halted at the
end OF the first hour and was succeeded by a
reactionary movement in which some stocks
made material declines. The depression was
attributed to selling for London account and
by the traders. Tobacco, which absorbed one
third Of the total dealings, developed pro-
nounced heaviness in the later trading on
reports OF the formation of a powerful anti
trust combination and Of cutting in prices
by outside plug tobacco manufacturers. Ru-
mors were also current Of an impending issue
of preferred stock, amounting to 81, O00, 900.
The loss reached ~, but at the low point
support was extended by insiders and free
covering by the shorts resulted in apprecia-
tion of that fact Blocks Of stock of from
500 to $500 shares changed hands at frequent
intervals. In the rally the price was car
ried up to last nights closing but realiza-
tions at the finish caused a concession of half
per cent. Burlington was the weak feature
Of the railway list declining 13s on the COM
paratively light corn movement Baltimore &
Ohio was less active than recently and moved
in erratic fashion within a 1 per cent range
closing unchanged as compared with yester-
days final prices. The general market during
the greater part Of the late session exhibited
firm tone and prices Of most stocks rose to
fgures slightly above yesterdays finals. Rub
Der shares became prominent toward the clos
ing, the common declining 3 per cent to 241b.
The preferred was offered down III to S41a.
The losses were attributed to raid. The
market closed dull and firm at fractional
net Improvement generally.
Dealings In railway bonds fell off to 970,-
900, total considerably below recent aver
ages. The temper OF the market was firm and
noteworthy movements occurred in few is
sues. The formal announcement of receiver
ship for Pittsburg e. Western as a sequence
to that Of the Baltimore & Ohio was not es-
bonds. The frsts yielded 1 per cent to $50
65A. The Baltimore Ohio fves of 1926 ex-
hibited strength and gained Az per cent to
So. On the other hand. the consol IS of 1888
lost IA on a seller, 30 option. Baltimore &
Ohio Southwestern were forced down to 100A
as against 10S the last preceding sale made
some time ago. Government issues were
weak and lower, on sales of s125, 5O0 Silver
certificates ruled slightly higher on sales of
$120 900 at 6s9s G68%. Sales of stock today in
GUIDED: American Tobacco. 69,500; General
Electric, 4,500; Burlington & Quincy "a 300;
Baltimore & Ohio. $500; American Sugar,
H,1OO; st. Paul. 22,oO; Western Union, 1000.
The following table shows the fluctuations
OF the leading railway and industrial stocks
yesterday: