The Saint Paul globe., 1897-08-25
THE STOCK MARKET AFFECTED
BY THE GRAIN SLUMP IN
EUROPE.
NEW RECORDS TO START.
CHANGERS LEADERS IN STRENG tn
IN THE EARLY DEALINGS
ON 'CHANGE.
FRACTIONAL DECLINES GENERAL.
Gains, However, Were Scattered
Through the List, Extending
to IA Point in Some Cases.

NEW YORK, Aug. A.-The opening of the
stock market this morning showed a lively
reawakening of outside interest, as indicat-
ed by a large volume of commission house
orders which had come into brokers' offices
over night and which kept up an animated
tone in the dealings during most of the morn
ing. There was also heavy buying for large
individual interests and the prices Of some
stocks were topped for the years record. The
preferred stocks of reorganized companies
were quite prominent and the shares of sew
eral Fasteners were strong and continued
nrm all day. The grangers were leaders in
point of activity and strength but realizing
sales were heavy at given point in their
advance forming a barrier. The course of
the wheat market was watched with sympa-
thetic interest. So far as its decline was due
to refutations of crop damage rumors it
helped the stock market, but when the cable
brought news of break in England and a.
decreased demand for wheat, railroad stocks
responded with sympathetic decline The
falling off in prices of American securities In
London was ignored at the opening hour,
partially because it was attributed to the
settlement which begins tomorrow. But later
in the day the cable reported the London
market heavy on the tenor of the news
from India. London advices also reported
that the continued fall in silver as an un-
settling influence in that market Silver to-
day fell Il penny in London to 23A pence,
which is Is penny below the previous lowest
price. small withdrawal of gold from the
sub-treasury for shipment to Canada might
be counted as slightly depressing influence.
The continued in the money market
is not indicative of lively demand for funds
from the interior, such as is looked for in
period of business revival, and while call
money at 1 per cent is an incentive to spec
lott i,,10
is regarded as distinctly Disappointing At
the same time tenders of money are in ex-
pectation of an early demand upon them
for interior trade needs, and there has been
some additional accumulation of funds here
recently in anticipation of such demand.
Leather preferred was notably weak on ac-
count of disappointment that the dividend
rate was not increased and lost 1h. Cotton
oil preferred, on the other hand was strong
and gained 2% net. Illinois Steel fell off 11a.
National Lead advanced 1, mostly late in the
day. New York, Chicago & St. Louis first
pfd fell off points. Most of the active
stocks showed fractional net Declines but
there were gains scattered all through the
list extending to a point in Chicago, Indian
apolis & Louisville pfd, Cleveland, c., C. &
st. Louis Flint & Pere Marquette pfd La
clede Gas, Lake Shore and Oregon Navigation
pfd.
The bond market was strong and firm,
against the decline, the Atchison issues lead
ing. The total sales of bonds were $3.50, 900.
Total sales of stocks today were ALP, $50
shares, including: Atchison $3.50; Atchison
pfd, 1852; c. & o., 12,7S0; Burlington, 26 32O;
G., c., G. & st. L., 4,75O Missouri Pacific,
1000; Northern Pacific, Abs; Northern Pa
cifc pfd, 11,49O; Chicago & Northwestern,
1850; Reading, 16,620;> Rock Island 164O,
St. Louis & s.. 16.4 400; St. Paul, 54,5OO; South
ern Railway pfd, $3.50; Cotton OIL 4,160; Spir-
its, 5,210 Tobacco, 1885; Chicago Gas, 1910;
Pacific Mail, 3.130; Sugar, 9,2S5; T. C. & l.,
5,720; Leather $500; Leather pfd, 13, 337; West
20, ,905
The following were abe 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.