St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-01-11
STOCKS IMPROVE RAPIDLY AND
HOLD THEIR GAINS TO
THE END. -
CHANGERS GATHER STRENGTH.
DELAY IN THE BOND ISSUE NOT so
SERIOUS AS WAS PRE-
DICTED.
REDUCED SHIPMENTS OF GOLD
Firm Tone of Dealings Mt the Close
of the Day-BOnds Moderate
Iy Active.

NEW YORK, Jan 10.-The share
speculation today was irregular at the
opening, and the volume of business
was only moderate. An easier ten
dency soon became evident, and gen.
eral fractional losses were scored. Be-
fore the expiration of the first hour,
however, the selling pressure was ex-
hausted arl a well-defned covering
movement ensued, under the leader
ship of the industrials, which carried
prices up to a material extent. Later
in the day the anthracite coal stocks
and grangers were strong features.
The last mentioned group was helped
by reports Of a decidedly increased
movement Of corn, while the coal
stocks advanced on rumor that an
thracite rates at tidewater would be
raised. The cold snap increased the
consumptive demand for coal, but this
will only exert a temporary influence
on the wholesale trade, except a halt
is called in the heavy mining opera =.
tons. Sugar sold up Il to 1035s, partly
on the belief expressed that the Ger
man sugar bounty bill in the reichstag
will not pass, and partly on a pretty
confident sentiment by the traders that
the old dividend rates would be main
tanned this year. The preferred stock
rose IL per cent.
The denial by President Hoyt, of the
United States Leather company, OF the
rumors that the management was en-
deavoring to float So, O00,0 900 loan, was
followed by an advance in the pre-
ferred stock, due mainly to covering
purchasers. The general market was
buoyed up by the conviction that the
delay incidental to the programme for
floating the new government loan will
not result in any serious financial dis
turbance. The fact that only 81, $50, 900
in gold was engaged for shipment to-
morrow also had a favorable influence
on the market. London was a pur-
chaser Of st. Paul and a few other
stocks to moderate extent. The
principal advances, other than those
mentioned, were in Lake Shore, "a ;
Chicago Gas. 2as; ManhattaS, Della
ware & Hudson, Illinois Central and
New Jersey Central, IL; Lake Erie &
Western preferred, 2; Lackawanna,
rs; Tennessee Coal, 112; Louisville &
Nashville and Canada Southern, 1ss,
Late in the day realizing sales caused
a general reactionary movement, in
which Manhattan and Leather pre-
ferred were the chief sufferers, with
losses of about a point. In less active
shares recession of 8 per cent was
made by Metropolitan Traction. In
the closing dealings prices again hard
ened and the closing was firm, with
substantial net advances generally.
Business in railway mortgages was
Of moderate proportions, and a strong
tone ruled. The Reading issues were
the features of the trading, and on
good buying gained 1924 per cent,
the last in the second incomes. The
Atchison and Kansas & Texas issues
were also we'll supported and gained
sharply. The sales aggregated 81, $685.
900. Governments rueld strong and
higher. The new tours coupon and
do fives coupon sold up IA and 1 per
cent respectively on purchases of So,
OG0 each. In state securities $4,000
Virginia Centuries changed hands at
a slight f1uctuation in price.
The total sales Of stocks today were
175,257 shares, including: American
Sugar, 405OO; Atchison, $500; Burling-
ton, 800; Chicago Gas, 1850; Louis
vile & Nashville, $500; Manhattan.
$500; Reading, 1900; Rock Island,
300; st. Paul, $4,000; United States
Leather preferred, 16,600.
The following table shows the fluctuations
of the leading railway and industrial stocks
yesterday: