The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-11-09
B0THsIDEs NERVOUS
STOCKS FLUCTUATED FREELY AND
OVER AN UNUSUALLY WIDE
PRICE RANGE.
NET DECLINES REDUCED.
MARKET HELPED BY AN EARLY
RISE AND A LATE
RALLY.
SPECIAL WEAKNESS IN CoALERs.
Burlington Weak ON the Failure of
the Supreme Court to Decide
the Nebraska Case.
NET DECLINES REDUCED.
SPECIAL WEAKNESS IN CoALERs

NEW YORK, Nov. 8.-Prices Of stocks
fuctuated very widely, traversing a range up
and down many times in the course Of the
day. This indicated a feyerish tone of the
speculative mind a readiness to dispose Of
holdings on slight intimation Of possible
unfavorable developments and an equally
nervous anxiety on the part of short sellers
to cover their contracts or any appearance OF
a hardening tendency in the market. The
most formidable event in the days happen
ings so far as any effect ON values was con-
cerned, was the further postponement of the
announcement of the supreme courts decision
in the Nebraska maximum freight rate case,
which was confidently expected today. There
has been assurance felt in Wall street circles
that the verdict in this case would be favor
able to the railroads. and even If a favorable
verdict had been announced today profit-tak
ing probably would have led to declines in
the stocks affected. But the news OF the
postponement led to the rumors that the YER
dict would In fact affirm the validity Of the
contested statute. This rumor induced much
selling. Special weakness was induced also
in the coalers by the very discouraging re-
ports Of the condition of that industry, due
to over production, cutting OF prices and
the persistent mild weather. There was not
lacking the usual stock of Spanish war scare
These demoralizing factors did not begin to
be felt until some slight Improvement over
Saturdays close had been effected in prices.
Sugar leading the way. There was a notable
improvement also from the low point before
the close Of the day, due to covering on shorts
and on q supreme court decision against the
interstate commerce commission as to the
regulation of rates under the long and short
haul clause where water rates are in COM
petition. In consequence Of this rise at the
opening and the improvement at the close,
net declines are much diminished. Spirits
preferred was the first stock to exercise an
unsettling influence on the market. With
slump Of 6h points on news Of the failure
of the Kentucky distillers combination. New
Jersey Central registered an extreme decline
of 5as, st. Joseph & Grand Island first pre-
ferred of 8; Delaware 6 Hudson and Man.
haitian 4. and Sugar, AS Omaha and Lake
Shore. 81; Cotton Oil, Leather preferred.
Pittsburg, c., G. & St. Louis preferred, and
Illinois Steel from 8 to 311A each, and Burling-
ton, Pittsburg, G. c. & st. Louis, Chicago
Gas, Missouri Pacific, Reading first preferred,
Illinois Central, Northwestern and other
prominent stocks from to 29s, the latter in
Burlington as being largely affected by the
Nebraska maximum freight law. st. Paul
was quite notably firm on London buying,
and a number of other stocks were also
bought quite steadily for London account at
the decline. Sugar was very active through
out the day and was quite sensitive. Chicago
Gas was a notable exception In the list, with
a net gain of TX points. Cotton Oil gained
214 net.
Bonds were weak in sympathy with stocks,
but steadier later in the day. Total sales;
81 1850, 900. U. s. new As declined " bid and
the 5s reg % and do coupon r.
The total shares of stocks today were AZ
300 shares. including: Atchison pfd, $3.50; G.
& O., S,r75; Burlington. A, 44O; Delaware &
Hudson, 1862 L. & N, 1896; Missouri Pa
cifc, 12,540; NJ, K. & T., pfd. 1850; Northern
Pacific pfd, 1866: Chicago Northwestern, o.
20; Reading, $3.50; St. Paul, 1915; st. Paul
& Omaha, 1896; Southern pfd. 3,4S3; Union
Pacific. 11,155; Wabash prd. 4,41o; Spirits
S,425; Chicago Gas, 1858; Sugar. So s9S; T:
Chicago Great Western, II, $50.
The following were the fluctuations of the
leading railway and industrial shares. fur
nished by C. H. F.. Smith q 20, members
New York stock exchange and Chicago board
of trade: