The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-11-18
DECLINES ABOUT EQUAL TO THE
GAINS OF THE PREVIOUS
DAY.
THE PRICE RANGE WIDER
EXTREME LOSS IN SOME CHANGERS
AND COALERS OVER A
POINT.
BOND MARKET THE MORE ACTIVE.
High-Priced Investment Issues I'm
Special Demand-Money Mar
ket Very Easy.

NEW YORK. Nov. 17.-Net declines today
were about the same as net gains were yes
terday in the stock market, but the range
of prices is a little wider, as there was
time during the day when they were carried
fraction above yesterdays close. The ex-
IRENE decline in some of the grangers and
the coaers Is therefore something over a
point. Sugar ruled generally above last
nights close, rising at one time IL and this
sustained the general market for a time. A
jump of ga in Consolidated Gas was also on
the side Of sustaining prices, but the eccen-
trio movements Of the stock have come TO
be practically disregarded. Both of these
stocks fell away to yesterdays level in the
subsequent weakness. There was a lack of
frmness in the price of st. Paul, notwith-
standing the increase of over $4,000 in its
earnings for the second week in November.
The comparison is with a poor week last
year, and was considered as not showing
the recent high rate of earnings fully sus-
tanned. The declaration of only the regular
quarterly dividend of 1 per cent on Burl1ng-
ton brought realizing sales in that stock and
also served to weaken somewhat the granger
group. Southern and Southwestern stocks
were comparatively f1rmer on the excellent
second weeks statements of Missouri Pacific,
Wabash and Texas and Pacific, and on the
continued heavy cotton movement in the
South. Speculation, however, was almost
dead. and the dealings in speculative stocks
were confined almost entirely to room traders.
Union Pacific was very heavy all day. and
lost IA net. This decline was coupled with
rise of nearly points in the Kansas Pacific
consol bonds. The market was much more
active relatively than stocks, and the high
priced investment issues were In special de-
mand and show gains of from l to 8 points.
This tendency in the security market was
entirely consistent with the remarkable ease
in the money market. There is a steady cur
rent of funds towards this center and liquida-
ton of loans and very limited demand for
the money thus set free. 1t Is now known
that last weeks increase in loans of the New
York banks was more than accounted for by
operations of the account of the Union Pa
cifc sale. Loans on other accounts showed
an actual decrease, and the limited supply of
commercial paper offerings indicates that
merchants are not in need of funds at pres
ent. This is in part due to the easy collec-
lions all over the country and to the large
payment of outstanding Indebtedness which
have made money plentiful at interior points.
But there is some apprehension that 1t may
also be due to falling off in business activity.
The ease of the money market is SO marked
that there is some talk that the Union Pacific
payments to the government will be made
before they become due. The total sales OF
all stocks fell again today to less than $780,
Coo shares, and losses were general through
out the list. Bay State Gas led in point OF
activity, and was lifted at one time 5s per
cent on rumored requirement OF a system
of properties, but the advance was met with
enormous offerings which drove down the
price. Total sales of stocks today were 167, 400
shares, Including Burlington, 1850; L. &
N, 3,345; Rock Island, II. $50; Bay State Gas,
As, 535; Peoples Gas, 1910; Consolidated Gas,
8 740; Sugar, &c, 485.
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.