The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-02-05
BEARS AFTER SUGAR
OFFERED IN LARGE Jumps AND NO
SUPPORT FROM THE IN
SIDE.
INDUSTRIALS ALL affected.
RAILWAY LIST ALSO SUCCUMBED
AND CLOSED AT GENERAL
FRACTIONAL LOSSES.
PACIFIC STOCKS HELD OUT FIRM.
Market Showed a General Tendency
to Sag and to Ignore Favorable
Factors.
PACIFIC STOCKS HELD OUT FIRM

NEW YORK, Feb. 4.-The stock market
lacked strength today and showed a decided
tendency to sag in spite of some seemingly
very favorable factors in the outlook. The
weak spot was clearly enough in the indus
trial group, but the effect through sympathy
on the rest of the list was sufficient to neu-
tralize the encouraging influences and as a
result the market closed on plane fraction
lower than last nights closing Sugar was
the center of attack for the decline, being
subjected to nearly all the unfavorable in
fuences Of the day. The dullness in the
trade had its effect on leather preferred out
side Of the apprehension of action directed
against the trust in some of the states tina.
have recently adopted antitrust legislation.
This influence likewise affected Sugar and
Lead. Chicago Gas was one of the sufferers
from fears OF adverse action by legislatures
and fell 11sc account of a bill in the Hi
nois legislature to fix the price of gas at 50
cents. Sugar was also the victim of the spec
ial apprehension of adverse changes in the
impending new tariff, and was bombarded
persistently by the leading bears. There
was lack OF supporting orders from inter
ests which are usually conspicuously active
in this stock. AS result there was heavy
dealing and the price ran down PA per cent
to n412. The offerings included some very
large blocks of stock. The delayed state
ment of Burlington for December proved to
nave Deon more favorable than mad been
counted upon by the doubters, showing an in
crease in the surplus of earnings after charges
OF 1868, 752. This also proved without effect
in saving the market from a decline, though
early covering advanced the stock a sharp
traction and served to steady the market,
but finally closed with a net decline Of u per
cent The railway list in general dropped
in sympathy with the decline in industrials
and partly also on account of the rather un-
favorable traffic statements for the last week
and month Of January. The list succumbed
to depression and sank at the close to the
lowest prices OF the day. The Northern
Pacific and Union Pacific stocks showed com
parat1ve hrmness, but dealings were largely
reduced over those Of yesterday. London
selling was additional influence in the de-
cline In railway shares, which, though gen.
eral, was only fractional.
The bond market ruled active and gen.
orally higher with the Northern Pacific issues
the feature. Large blocks Of these securi-
ties were dealt in The Improvements in
the general market was mainly fractional but
sharp concessions were scored in few Of the
inactive liens. The sales were S., 693 00O
governments continue heavy On profit-taking
w1th the dealings centered on the new fours.
The sales were $62, 900.
The total sales of stocks today were 1876 521
including the following: Tobacco, g. 700; Su-
gar, $4,000; Burlington II, 500; Chicago Gas.
800; Northern Pacific 1000; Northern Pa
cifc preferred, 5,1O0; st. Paul, $500; Union
Pacific, 5000.
The following were 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
of trade: