The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-16
STOCKS AGAIN ACTIVE.
Heavy Buying Follows the Revival
of Strength.

OF strength.
NEW YORK, Aug. 14.-There was an
other striking illustration today Of the in
herent strength of the market for stocks,
heavy offerings to realize ut the opening being
readily absorbed and a strong fresh buying
impulse invited by the lower level of prices
This new impulse soon turned the tide of
prices to an upward course once more, wiping
out the sharp early losses and establishing
extended to from IA to points in many
prominent stocks, and the subsequent rise es-
tablished net gains Of 1 to 2 points in many
stocks. The grangers were foremost in activ-
ity and in the width of the variations in
prices and there was probably an intimate
connection between their movements and the
early weakness in wheat and the subsequent
rally in that market. further decline of "A
in the posted rate for long sterling exchange
to 4.S4 was Strengthening influence, as was
the favorable weekly bank statement. The
excess in the increase of loans over the in
crease in deposits and a consequent decrease
In the surplus reserve of $2119, 400 Is an en-
couraging indication of the increasing de-
mand for money and expansion of business.
Although loans are at this time OF unprece-
denied volume, the same is true of the de-
posts and the total reserve held and de-
crease in, the surplus is looked forward to In
+ the money market to establish better tone
there Sugar advanced fully 1A after an early
deene and Tobacco d dftgF wa oss nearly "a
point in the grangers and Northern faclnc
Did and exceeded a point In LouisVlHe &
Nashville, New York Central and southern
pfd. -, .,o-,,oa
The week in Wall street has been marked
by an undated volume Of trading on the
stock exchange. where the total safes OF az !
stocks on two separate days exceeded that
of any previous day Of the present movement.
The record for a days trading IN Do1os WAS as
also placed at new high point. Sa.es soo VI
stocks for the week reached total OF S6zO,-
412 shares and the par value OF the pohus
dealt in was $40, sac, 900. The course Oh prlcss
was not so steadily upward as last week,
two sharp reactions occurring. me large
offerings of grain and cotton bills in the New
York exchange market have caused con-
slant fall in both sterling and continentaI ex-
change more particularly the latter Mean
time the New York rate of exchange on per
lin and especially on Paris is steadily raining.
The inference is that British capitalists ar
calling home capital placed In France ana
Foreign bankers in New York believe that that
| the consequence will be that the nrst goIo
| imports will come from France and that they
| are likely to come in short time. They also
| believe that London will have to ship gold 10
New York later, the amount, OF course, de-
| pending upon the buying of American securl.
| ties by the English public. In consequence OF
| the reactions in the market, net changes on
| the week in the prices of stocks are not wide,
| the gains extending to points in compare
lively few of the leading stocks. Burlington,
| however, rose points, and chicago treat
Western ~ net. Other noteworthy gains OF
points or over Were sugar AIchI Is4I pre-
| preferred Baltimore & Ohio, Az; c., G., Q.
! & St. L. preferred, 10; Hooking valley, Lack
| aWanna, Denver & Rio Grande preIerreu
Evansville G. Terre Haute, 8; Evansville
Terre Haute preferred, 5; Great Northern
| preferred S1s; Metropolitan Traction, 4; Mis-
souri, Pacific, Mobile & Ohio. 5A; New York
| Chicago & st. Louis LIST preferred, S15; New
| York Chicago & st. Louis second preferred
| 81; Northern Pacific preferred, 3A; Pacific
Mall p, c., c. & st. L., Fort wayne 81
| Rubber, 39s.
Important declines were shown in Tobacco
| Brooklyn Transit, Brooklyn Union Gas, Can
ada Southern, Canadian Pacific, Illinois Steel
| LaClede Gas, Manhattan, New York Central,
P, c., c. St. L. preferred, Spirits and
] Oregon Navigation preferred.
Transactions in bonds during the week &C
| curately reflected the views of investors re-
| garding the financial and commercial outlook.
| Values of many securities appreciated notably
| and the dealings were attended with more
| animation and breadth of trading than has
| been evident for years. The aggregate sales
| of stocks today were 272, $50, including. Atch-
ison 1880; Atchison preferred, Il, IA; B. & O.,
| 266; Burlington 1885, Illinois Central, $40;
Northern Pacific preferred, 15,5O0 st. Paul,
! q 200; Union Pacific, $685.; American To-
| baccc. 81 100; Chicago Gas. 3,146; Sugar, 20,
| $50: Sugar preferred 3,179; Western Union,
| 6220; Chicago Great Western, 9025.
| The following the fluctuations Of the
| leading railway and industrial shares fur
| nished by C. H. F. Smith & Co., members
! New York stock exchange and Chicago board