The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-15
NEW YORK DRY GOODS
STOCKS AGAIN ACTIVE.
Heavy buying Follows the Revival
OF Strength.


NEW YORK, Aug. 4.-There was an
other striking illustration today of the in
herent strength of the market for stocks.
heavy offerings to realize at the opening being
readily absorbed and a strong fresh buying
impulse invited by the lower level of prices
This new impulse soon turned the tide of
prices to an upward course once more wiping
out the sharp early losses and establishing
gains for the whole list. The carly dec. inc
extended to from liz to . points in many
prominent stocks. and the subsequent rise es-
tab-;shed net gains of l to points in many
stocks. The grangers were foremost in activ-
ity and in the width of the variations in
prices and there was probably an intimate
connection between their movements and the
carry weakness IN wheat and the subsequent
rally in that market a further decline of p
in the posted rate for long sterling exchange
to 4.S4 was a siren gthening influence, as was
the favorable weekly bank statement. The
excess in the increase of .oans over the in
crease IN deposits and consequent decrease
in the surplus reserve of $2,119,400 is an en-
couraging indication of the increasing de-
mand Tor money and expansion of business.
Although loans at this time of unprece-
denied volume, the same IS true of the de-
posts and the total reserve held and de-
crease in the surplus is looked forward to in
the money market to establish a better tone
there Sugar advanced fully 1l@ after an early
decline, and Tobacco. after Ioss OF "a
rallied 2ia. The cary decline was nearly a
point in the grangerS and Northern Pac tic
pfd. and exceeded a point in Louisville &
Nashville, New York Central and Southern
The week in Wall street has been marked
by an undated volume OF trading on the
stock exchange, where the total sa es OF al
stocks two separate days exceeded that
OF any previous day of the present movement.
The record for Gays trading in bonds was
also placed at a new high point. Sales OF
stocks for the week reached a total Of 1920
4i2 shares and the par value OF the bonus
dealt in was $40 S45 600. The course OF prices
was not so steadily upward as last week,
two sharp reactions occurring. The large
of Of New
York exchange market have caused con-
slant fall in both sizing and continental eX-
change, more particularly the latter. Mean
time the New York rate of exchange on Ber-
lin and especially on Paris is steadily ia ling.
The inference is that British capitalists are
calling home capital placed in France and
Germany.
Foreign bankers in New York believe that
the consequence will be that the first gold
imports viii come from France and that they
are likely to come in short time Ihey also
believe that London Will have to ship gold to
New York later, the amount of course, de-
pending upon the buying of American securi-
ties by the English public. In consequence of
the reactions in the market, net changes on
the week in the prices of stocks are not wide,
the gains extending to points in compare
lively few of the leading stocks Burlington,
however, rose 4 points, and Chicago Great
Western. 2A net. Other noteworthy gains of
points or over were: Sugar, Atchison pre-
ferred, S5s: Buffalo, Rochester Il Pittsburg
, preferred, Baltimore & Ohio AZ; c., c., c.
q St. L. preferred, 10; Hooking Valley, Lack
awanna, Denver d Rio Grande preferred
Evansville & Terre Haute, 8; Evansville &
Terre Haute preferred, >; Great Northern
preferred S12; Metropolitan Traction, 1: Mis-
souri, Pacific. Mobile & Ohio, 81 New York.
Chicago & st. Louis LIST preferred, So; New
York, Chicago & st. Louis second preferred,
S12; Northern Pacific preferred, 81 Pacific
Mail, P. C., c. & st. l., Fort Wayne, 3;
Rubber 35s
Important declines were shown in Tobacco.
| Brooklyn Transit, Brooklyn Union Gas, Can
ada Southern, Canadian Pacific. Illinois Steel,
LaClede Gas Manhattan. New York Central,
P, c., c. & st. l.. preferred, Spirits and
Oregon Navigation preferred.
Transactions in bonds during the week aC-
Curately reflected the views OF investors re-
garding the financial and commercial outlook.
Values of many securities appreciated notably
and the dealings attended with more
animation and breadth of trading than has
been evident for years. The aggregate sales
of stocks today were 81, $50 including. Atch-
ison, $3.50; Atchison preferred, 1414; b. & o.,
266; Burlington. 1896; Illinois Central, 3,4l0;
Northern Pacfic preferred, 15,50O; St. Paul,
21,7OO; Union Pacific 9,635; American To
bGcco. 81 100; Chicago Gas. 3,146; Sugar. 20
$50; Sugar preferred. 3179; Western Union,
6,220; Chicago Great Western. 9,025.
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: