The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-05
cRINp IN STOCKS
TRUST SHARES RAIDED ON THE
STRENGTH OF THE INAUGURAL
ADDRESS.
CRETE CUT SOME FIGURE.
FOREIGN MARKET WEAK AS RE-
SUIT OF THE NEW C0MPLI-
CATIONS.
GENERAL TREND REACTIONARY.
Desire to Take Out Profits at the
High Rates of Wednesday Aided
the Slump.
TREND REACTIoNARY.

NEW YORK, March 4.-Today's market
was active and marked by an enlarged VOL
ume I trading, over 226, 900 shares changing
hands. wide variety of properties was
dealt In. The tendency was distinctly reac-
tlonary, and the declines were notable in
many stocks. Many factors contributed to
this result, the principal one being seeming
desire to take profits at the high range Of
values established yesterday. This DISPOSE
ton was manifested soon after the opening
at which time the tendency was upward in
spite Of the depression existing in the London
market, on account of renewed uneasiness
over the status of the still unsolved Cretan
problem. The rise at the opening of &c
each in New York Central and Omaha showed
the continued effect of the Lake Shore
bonding operation. But this soon gave way
to selling movement and to proht-taking in
many of the h!gh-priced investment stocks
and the Vanderbilts, which enjoyed so re-
markable a rise yesterday. The early gains
were soon lost, and heaviness overlook the
entire market
There was a slight check to the downward
trend, due to rally of IA in Chicago Gas
on reports of good prospects for consolidation.
The rally in the general list was unimportant
ana the downward course was resumed New
Jersey Central and Manhattan lost a point
each, the first on the labor troubles Of the
Lehigh Wilkesbarre and the latter on
continued apprehension of a reduction of the
dividend rate. London sold about 5000
shares.
After the traders had seen the presidents
inaugural address, the paragraph to trusts
was seized on by the bears and an extensive
raid was organized on the industrials. The
market was very active from then up to
delivery hour, and heavy liquidation was
manifest In the industrials. Dizziness sue
ceeded and continued until the close. The
extreme defines in the Vanderbilt stocks
We're: Lake Shore, 212 ST. Paul & Omaha
rs; New York Central and St. Louis second
ern, IN; New York Central common IA
The latter recovered and registered a frac-
tlonaI net advance. Of the industriaIs, Sugar
lost lost ~; Leather preferred, 2; Chicago Gas,
rs; Consol dated Gas, IA; General Electric
J. and Tobacco, rs OF the specialties, Man
haitian fell "; Pullman 1, Tennessee Coal
q Iron, ~ and Pacific Mail q. The grang-
ers also suffered, Burlington declining ~;
St. Paul, rs, and Rock island, IL. OF the
otter railways, the loss in Northern Pacific
preferred was rs; in Louisville & Nash
vile, e; Missouri Pacific, /; Kansas G. Texas
preferred, l, and Atchison preferred ia
The close was at the lowest level Of the
day.
The bond market continues to exhibit pro-
nounced strength, regardless of the feverish-
ness OF the stock speculation. The low grade
bends are coming into better favor for spec
ulation. The market eased off slightly to-
wards the close on reaizations in some Of
the active lines. Sales, 81, 2O5. OOO Govern
ment bonds were neglected at the board
Slight advances in bid prices failed to bring
out any offerings, but the outside dealings
were very heavy.
The total sales of stocks today were 226, 29S
shares, including: Tobacco, $500; American
Sugar, 49, zoe; Burlington, 25, 000; Chicago
Gas, 1920; Louisville & Nashville, $500
Manhattan, $500; Northwest $500; Northern
Pacific preferred, $500; Omaha, Ii 500; Rock
Island, $500; st. Paul, 700
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.