St. Paul daily globe., 1896-03-05
TEMPER ON ,CHANGE is MORE
CHEERFUL THAN FOR SOME
TIME PAST.
STOCKS STRONG AND HIGHER,
ALTHOUGH THERE is NOTABLE Alb
sENCE OF NEWS BEARING
ON PRICES.
Attack on Burlington Causes 1t to
Drop n .POint-St. Paul Is
FavOrite.

NEW YORK, March 4.-Tradng in stocks
today was on about the same volume as
yesterday. The market apeared to have cut
away from the influence Of the Cuban i'm
broglio. The greater part of the business
was for account of the professionals, but there
was also a little leaven of commission or
der. The temper Of the financial community
was more cheerful than at any time since
the introduction Of the Cuban belligerency
resolutions. London lent some support, and
covering by the traders was quite the order of
the day. There was a marked absence of
news having legitimate bearing upon prices,
aside from the encouraging exhibits of Feb
ruary gross earnings, including those of the
st. Paul. The company mentioned shows an
increase of $37S,15S. The market opened
strong and higher and a further degree of
strength was impaired by reassurng cables
of London prices for Americans, and some
buying of the international shares here. 1t
has become the fashion with the traders to
mark time upon London, owing to the bal
ance of outside interest in the market. The
upward movement was checked for brief in
terval by an attack on Burlington, which
caused drop of Ia per cent in that stock.
The selling was again attributed to the un-
satisfactory char acter of the January report
published on Monday. Other stocks lost sub
stantial fractions in a few cases, but the up
ward movement was soon resumed with re-
newed vigor. General Electric was especially
strong, gaining 11a per cent on gossip OF ex-
pected favorable developments. Sugar ad-
Yanced IA per cent on re-purchases by in
terests that were heavy sellers last week on
the Cuban scare. Tobacco moved irregularly
within a range Of point and was sustained
by covering Of the shorts. 1t left off at a net
advance Of ss per cent. Leather preferred, on
the other hand, was exceptionally weak on
further liquidation Of Boston holdings The
stock scored net loss Of rs per cent. In the
railway list gains were noted in a number Of
the active stocks, ranging from to 1R per
cent. The market received a slight setback
around delivery hour on the execution Of
realizing orders. The reaction was of only
momentary duration, however, and in the
Delaware & Hudson rase IA, New Jersey Gen.
trail 1A and Lackawanna 1A per cent The
closing was quiet but strong in tone at about
the best figures of the day.
The bond market today developed decided
strength in sympathy with the improvement
in the share trading. The volume of busi-
ness was also an increased scale. The
Northern Pacific issues were the features
and exhibited marked strength on anticipa-
ton Of important favorable developments in
the near future in relation to reorganization.
Texas Pacific issues also advanced on
speculative buying. The aggregate sales were
$1,964,0 900. The principal net gains were
Pittsburg & Western frsts, 21a; Northern
Pacific consol 5s, IL; do trust receipts, 2b;
do seconds, 1; do thirds, 11a, and do dividend
scrip, per cent; Long Island As, ~; Mil
ern Pacific & Montana frsts, Peoples Gas of
Chicago seconds, St. Louis & San Francisco
seconds, class A, and Union Elevated firsts,
IL; Kansas & Texas seconds, rs, and Texas
& Pacific firsts, Chesapeake & Ohio 5s, Edi-
son Electric Of New York consol 5s, Mis-
souri,, Kansas & Eastern irsts. and Chicago,
st. Louis & New Orleans 5s 1 per cent.
Government issues sagged slightly in the