St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-01-23
HIGHER PRICES RULE.
THE BETTER POLITICAL OUTLOOK
GIVES STRONGER TONE TO
AMERICANS.
LARGER OUTSIDE BUYING.
MARKET ALL AROUND SHOWS A
GREATER VOLUME OF BUSI-
NESS.
INDUsTRIALs TAKE THE LEAD,
While International Stocks Are Very
Conspicuous in the Upward
Movement.
LARGER OUTSIDE BUYING


NEW YORK, Jan. 22.-The operations in
stocks today while largely of a professional
character, included some fair outside buying
Tor european account, and to a less extent
purchases by local commission houses. The
volume of business somewhat larger than
tnat OF the previous day, with the greater part
or the trading distributed between four in
dustrial stocks and st. Paul and Western
Union. The London cables reported de-
cldedly more cheerful condition of the public
mind regarding the political outlook so far
as the relations with the United States are
concerned, and higher prices for Americans
were followed by arbitrage purchases in this
market Continued easy rates for call money
in the street and predictions of freer Offer
ings of time money, together with lower rates
Tor sterling exchange, were among the bull
factors. The industrals, usual, were man
ipulated under special influences. The initial
prices showed substantial Improvement over
yesterdays final sales and in short order,
further gains were established Of 1a@11a per
cent, the last in Rock Island. The interna-
tonal stocks, for the reasons above noted,
were conspicuous in the upward movement.
After the first fifteen minutes of business
reaction occurred in which, aside from To-
bacco and Western Union, the losses record
ed were only fractional. Tobacco had ad-
yanced 12 per cent to 70, but subsequently
broke to 1874 on Iiquidations and hammering
by the professional dealers Western Union,
also, after an early fractional advance, yield
ed point on continued bear attacks.
Sugar gained rs on advances in various
grades Of the foreign and domestic product.
Chicago Gas rose fraction and later dropped
11s per cent on bear selling, prompted by the
check encountered in the consolidation efforts.
Subsequently covering of shorts caused a
full rally. In the last fifteen minutes squirt
of activity developed and the best figures of
the day, as rule, were recorded. Reading
attracted attention on account of an active
inquiry for the stock and bonds at advanc
ing prices which was ascribed to expectation
of important developments at tomorrow's
meeting of the anthracite presidents, and
partly to the reported large deposits under
the reorganization plan. st. Paul gained net
rs per cent, Burlington 12s and Rock Island
11a per cent. The market closed strong. The
Reading mortgages were the features of the
bond market in point of activity and advance.
The aggregate sales were 81, O93 900.
Total sales Of stocks today included: Amer
lean Sugar, 12,2OO; American Tobacco, 155OO
Burlington. 5,1CO; Chicago Cas- 10,1OO; Cen
eral Electric, 1O,10O; Louisville & Nashville,
1000; Reading, 400; Rock Island. 1900; st.
Paul. 14900 United States Leather preferred
9,400; Western Union, 10, 300
The following table shows the fluctuations
Of the leading railway and industrial stocks
Yesterday: