St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-03-10
STOCKS WE'RE CHARACTER
lied By IRREGULARITY.
TOBACCO AGAIN IN THE VAN,
AND AGGREGATES OVER TWO
THIRDS OF THE AGGREGATE
SALES OF THE DAY.
Belief Increases That Strong Inter-
ests Are at the Back of It's
Reorganization.

NEW YORK. March 9.-The stock market
today was more moderately active, and ir-
regularity characterized the dealings. There
was hardly train Of commission business.
and the distribution of the trade was indif-
ferent. The industrial shares as group ex-
oeeded the railway list in point Of activity,
with American Tobacco far in the lead and
figuring for over two-thirds of the aggregate
dealings. The influences bearing upon the
aforementioned speciality were not new, ex-
cept that in addition to the dissatisfaction
over the protracted war with the outside
manufacturers and the anticipation of an is
sue Of new preferred stock to a considerable
amount 1t was suggested that dissensions are
now prevailing in the management. The
probability of these differences being fought
out in the stock market was also discussed.
The deliberations at Washington respecting
the Cuban belligerency imbroglio were the
most important general factor bearing upon
values. The dealings for foreign account
were unimportant and the local market was
unresponsive to a firmer tone in American
securities in London. In the afternoon op-
erations almost general weakness developed,
and some material concessions in prices were
reported. Tobacco was decidedly erratic and
decline Of ~ to 71B occurred on manipu-
lation. The same force was responsible for
a rally to 1875, and subsequently a reaction
occurred to Tx on heavy realizings. In the
late dealings an extensive demand from the
shorts rushed the stock to 1875, and it closed
at an unimportant recession from that fig
ure. The size of the blocks of stock han
died attracted considerable attention. Gen
eral Electric advanced ~ per cent on fairly
large transactions as a result of pool opera
lions, but did not fully retain the improve
men ment' Manhattan yielded 2 per cent to
1O3A without particular explanation, aside
from theory Of liquidation of speculative
holdings. About half of the loss was re-
covered in the closing dealings. Apprehen-
sion regarding the safety of an overdue ves-
sci belonging to the Pacific Mail Steamship
company was reflected in break of IL per
cent, which was subsequently made up. Fur
Their unfavorable rumors concerning the bust
ness of the American Cotton Oil company
caused declines of "a in the common and
per cent in the preferred stock The first
mentioned rallied eventually near to the high
point The apathy which marked the fore
noon speculation was relieved in the later
dealings by slightly increased inactive and
an improved tone, due to the belief indicated
by Washington dispatches that action by the
senate on the Cuban question may be de-
ferred until an impartial consideration can
be had. The declaration of the regular div
idends on Sugar stocks was followed by
slight decline, due to sales by holders who
had expected an extra disbursement. Balu-
more & Ohio was the feature of the closing
per cent on heavy purchases, chiefly by the
shorts. The stock was in active demand in
the loan crowd, and commanded per cent
premium for use. The gains in the general
market were also substantial. and the pur-
chasing movement carried the list slightly
above Saturdays final sales. The closing was
strong at the top level.
Trading in miscellaneous bonds was mod
crate in volume, and irreguarity in prices
was noted. The Northern Pacific issues were
in demand and improved sharply on the in