The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-09
BOND SALES OF NEARLY TWO MIL
LIONS IN LESS THAN AN
HOUR.
STOCK LIST ALSO ACTIVE.
SUGAR AT THE START WAS THE
ONLY EXCEPTION TO THE
STRENGTH.
NET GAINS LARGELY FRACTIONS.
Before the Close Prices Were Unset
tied and There Was n Sprfnk-
ling of Losses.

NEW YORK, Dec S.-The stock market
opened today with a tremendous show OF
animation and vigor. Gains were uniform
pretty much throughout the list. 1t was
evident that the strength displayed by the
market yesterday had brought orders TO
the commission houses to buy stocks. There
was also buying for the London account
for the first time in several days, the ad-
vance in prices here apparently falllng 10
tempt arbitrage brokers to sell. Their pur-
chases of st. Paul were on quite large
scale, and they also bought Union Paclhc
but there were sales of Louisville and Atchi-
son for London account. Sugar was the
one exception in the strength of the market
at the opening and its loss soon widened,
and heavier liquidation in the stock set in,
offerings being very heavy and active, sup
port being of no avail to recover its losses.
Yesterdays rumor of an extra dividend was
thoroughly destroyed this morning and yes
terday's gain was in consequence completely
wiped out before the announcement OF the
regular dividend. The stock was very 1eV-
erish all day and luctuated widely and ire
quently but worked constantly towards
lower level and closed near the lowest at a
net loss of 4ssc. Total sales were nearly lzO,-
900 shares. Consolidated Gas was also d
mark for the reactionists and dropped at
one time AZ points. The consequence was
that the market was kept unsettled all day.
When the general advance came to stop
dullness INTERVIEWED but there were frequent
rallies. Early in the final hour prices of
many stocks were at the best, but the final
drop in Sugar again weakened prices all
around and left net gains confined to frac-
tons in almost all cases and fa1r sprlhk-
ling of losses all through the list. one Oh
these losses occurred in Minneapolis q ST.
Louis second preferred, which had been ad-
vanced in the morning on rumor that the
dividend was to be increased and which re-
acted on the announcement Of the regular
dividend. Union Pacific also was heavy on
account of the steps taken by the government
to qualify as a bidder at the Kansas Paci-
fic SALE Other stocks inclined to heaviners
were Western Union Manhattan, Metropoli-
tan and New York Central. Suothern prefer
red continued to advance on rumors of
an approaching dividend and rose at one
time 13s per cent. C. c. c. & st. Paul en-
joyed the benefit of a favorable statement of
earnings for the fourth week in Novem-
Der.
The activity displayed by the bond market
was quite remarkable, sales Tor the nrst
hour approaching one and three-quarters mil
lion dollars in par value, and 1t is SAID,
breaking the record for one hours business.
There was some decrease in activity later
tnued strong and prices OF a number of
bonds of the middle grade moved up from
one to two points. Some of the high grade
bonds showed heavy gains. Michigan Cen
trail 5s of 1881, rising 51a per cent; Milwaukee
& Northern consois of 1881, gaining S22sc,
Louisville & Nashville, P. & A., division
5s, 2 and Northern Pacific terminal frst5
Q Missouri Pacific collateral 5s also gained
51h points Total sales, $4,25O $50: United
States States old fours, registered, declined Is
and United States old fours, coupon, a
bid, but the 1ves rose Il bid; the new fours
coupon sold at 129, which is higher than
ever before.
including: Atchison preferred, 1,O27; c. &
$50; Manhattan, 7435; Missouri Pacific, 13,-
SIS: NJ K & T. preferred, 1880; N. j: O.,
5.255; Northern Pacific, 1852; Northern Pacl-
fic preferred, 1906; Northwestern, $500;
Reading, 1926; R. l., 17O15; st. Louis &
San Francisco second preferred, 1927; st,
Paul, "a OBS; Southern preferred, 1O,725i Union
Pacific. $3.50; Wabash preferred, 1916; To-
bacco, 5000; Bay State Gas, $40; Chicago
G. W.. Is 1876; Peoples Gas, 1920; Laclede
Gas. $780, Sugar, O9O
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.