St. Paul daily globe., 1896-03-07
VAGARIEs OF INDUSTRIAL SHARES
THE CENTER OF INTEREST ON
THE STREET.
TOBACCO THE MOST ACTIVE,
AND is SECOND ONLY TO THE bal.
TIMORE & OHIO IN POINT OF
WEAKNESS.
RAILWAYS ARE UNINrEREsTING
Final Figures Showing Fractional
Unconstitutional Bonds Are
Easier.

NEW YORK, March 6.-Aside from a new
low record, established by Baltimore & Ohio,
the chief POINTS of interest in today's stock
market were confined to the vagaries CT the
industrial shares The movements in this
class of securities, however erratic or incon-
sistent with the supposed facts are invariably
attended by more or less ingenious gossip, al
though quite frequently manipulation, pure
ana simple, causes the fluctuations. Tobacco,
by large majority, exceeded any other in
dlVldual stock in point of activity, and was
close second in extent of weakness. The
most reasonable inference that can be drawn
from the course of this stock is that peonIe
who have been hoping that the fight between
the management and the outside concerns
Will be wound up and who have held onto
their securities in the belief are getting worn
out and are disposing of their lines The ex-
pectation of an additional issue of preferred
stock also eXerts unfavorable influence. In
the early speculation the price was irregular
within a fractional range, but after mid
day there was continuous pressure against
the shares, resulting in @. decline of 8 per
cent. The Rubber shares, common and pre-
terred, were forced down 25s and per cent
respectively on renewed liquidation by inter-
ests opposed to the present MANAGEMENT. The
the loss on covering by shorts and some sun
porting orders by insiders. The Chicago Gas
shares rose an important fraction, but after
wards dropped IL per cent on selling bv trad
ers, on the announcement of the postponement
until October of the proceedings in the man.
damus application against the secretary of
state or Illinois. The speculation in the rail-
way list, aside from Baltimore G. Ohio. was
undressing. The stock mentioned touched
the lowest point ever reached, 2R from YES
terdays final price. Subsequently, in the face
OF the depression in the general list, the shares
developed rallying power, making up one-haIf
OF the loss. The assignment of one of the
largest mercantile firms in the country, in its
special line, was not credited in the specula-
tlon. The usual Cuban scare news from
washington was, however, improved by a.
snow OF earnestness on the bear side by the
traders, but the losses effected were unim-
portant. The market stiffened slightly around
midday, but thereafter the selling movement
again ruled; 1rregularity marked the closing,
but final figures recorded general fractional
losses.
The railroad bond market displayed an
easier tendency The concessions were. as a.
rule, unimportant, however, and in some
cases noteworthy gains were established, par
ticularly in Detroit Gas 5s and Northern Pa
cific dividend scrip, extended, which rose 5
per cent each. The volume of business was
below the recent average. The total sales
were 1888, 900.
An improved tone was evident in govern
ments on increased business. The sales
reached $4O2,50O and slight fractional gains
were general.
Sales of stocks today included: American
Tobacco, 5OO 200; Burlington, Il, 800, Baltimore
C Ohio, 21,70O; Chicago Gas, $500; General
Electric 5000; Louisville G Nashville, 10000;
Rock Island, 1900; st. Paul, 20, 900. -
The following table shows the fluctuations