The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-19
GAIN OF A FRACTION
COURSE of STOCK PRICES IRREG-
ULAR, BUT A STRONG UNDER
TONE MANIFEST.
SOME VULNERABLE SPOTS.
VANDERBILT SHARES PICKED OUT
BY THE BEARS FOR SPECIAL
ATTACK.
RISE IMPEDED BY PROFIT TAKING.
Dealings Characterized by Great
Activity, With "a Total Volume
Much Larger Than Usual.

NEW YORK, March 1S-The course of
some of the stocks in today's market was
extremely irregular, but an undertone of
strength was manifested, In the railway list
particularly. The net result of the DAYS
transactions gain of a fraction In most
cases. The dealings were characterized at
times by great activity. The diminution of
any tendency towards a decline in prices
was noticeable, and 1t has been for some time
past. The volume of dealings was large. the
aggregate of the stocks sold reaching nearly
210,OOO shares This total has not been
equaled on the exchange since last fall. with
one exception. The dealings were fairly we'll
distributed, though they were exceptionally
heavy in some four or five stocks
Notwithstanding the strong undertone of
the market, the bears found some vulnerable
spots for attack, and the advance was not
unlmpeded by proft-taking This was shown
in some of the Vanderbilt properties, in which
the buying movement has been so marked
for several days past. Omaha, Lake Shore,
Northwest, New York, Chicago & ST. Louis
common and second preferred and Cleveland
Cincinnati Chicago & st. Louis all showed
reactionary tendency, especially Omaha, in
wn1ch the dealings were very heavy, and the
decline reached rs. New York Central on
the other hand, was very strong, only a few
early sales being made below the par of
the stock. The more definite shaping of the
reports that the companys bonded debt ac-
cruing up to 1905 would be refunded at a
saving Of interest charges, was the cause of
the strength.
The buying movement became general and
the market developed strength throughout
pool buying being evident at various points,
with the shorts showing obvious anxiety to
cover, some of the usually inactive stocks
being included in the range of activity. Pa
clhc Mail enjoyed gain of rs on the ar
rival at San Francisco of the overdue steam
er Peru. Sugar was heavily bought by trad
ers, though it was sold by some usually re-
garded as being identified with the inside
interests. This stock rose 1b to n512, and
reacted to 114A on the news Of general re-
duction of &c in the price of refined sugar
Southern preferred and Kansas & Texas pre-
ferred benefited by reports of improving
business in the South. Chicago Gas was
largely bought, the transactions coming next
to those in Sugar in point of volume Some
or the large gains in this period Of the mar
ket were: Sugar, 1A; Chicago Gas. 1%:
Ia New Jersey Central 13s New York Cen
trail 13s; Tennessee Coal & Iron IL; Rock
Island, 1%, and Burlington, q. St. Paul
Jagged in the advance, being crossed by
Burlington.
An effective raid was made on the market
after 2 O'Clock, some Of the industrials and
anthracite coalers being selected for attack
sensational rumors were circulated that the
syndicate, which had underwrtten the Read
ing plan Of reorganization had dissolved
The common stock fell rs, the first pre-
ferred and the second preferred ~. Old
doubts about New Jersey Central were also
revived, and that stock fell IL. The Rubber
shares were also attacked, the common losing
~ and the preferred 2%. Sugar lost IL on
the reduction in the price of the staple, Amer
lean Spirits l and the preferred 2 (the latter
with subsequent recovery of 80 and re-
alizations on Omaha and Lake Shore helped
the decline which became general through
out the list though to a fractional extent
only in most cases. The closing of the mar
ket was consequently weak
The bond market displayed an improved
tone generally, although marked recessions
were scored in few cases. notably Atchison
Colorado & Pacific firsts which yielded 2as
per cent Standard Rope skies fuctuated
very widely, but tended mainly upward and
ended with gain of Ia per cent. The sales
We're 81, 420, COO. Governments were neglected
but easier in tone. The sales were So, OOO
State issues were in demand and stiffened
slightly on purchases Of sac, 600.
The total sales Of stocks today were 272 $40
shares, including: Tobacco, 5 100; Sugar 81
900; Burlington, 1900; Chicago Gas, Is 800;
New York Central, 1900; Omaha 10 300: Pa
cifc Mail, 400; Reading, 1850; Rock ISL
and. 5000.
The following were the fluctuations Of the
leading railway and industrial shares, fur
nished by G. H. F. Smith & Co.. members
New York stock exchange and Chicago board
Of trade.