The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-02-20
BURLINGTON ON TOP
SUGAR CROWDED FROM THE STOCK
MARKET LEADERSHIP BY A
RAILWAY.
IMPETUS TO WHOLE LIST.
AN IRREGULAR CLOSE WITH MOST
SHARES SHOWING A SLIGHT
GAIN.
DECIDED ANIMATION IN BONDS.
The Main Tendency Was Upward,
But Some Severe Losses Were
Registered as Well.
DECIDED ANIMATION IN BONDS.

NEW YORK, Feb. 19.-Tcday's market was
limited, even in comparison with the apa-
thetic condition that has recently character
lied speculation. For the first time in many
months an industrial Sugar, has yielded Its
place as leader of the market to railroad.
Burlington took first place today on trans
actions induced by doubt as to the action of
the directors on the quarterly dividend. There
were rumors circulated in the morning which
succeeded in arousing feeling of apprehen-
sion that the Burlington dividend would be
reduced, and this aroused quite lively SELL
ing movement The announcement later that
the directors had declared the regular quar-
terly dividend of 1 per cent caused rally
in the stock of 13s per cent and the move
ment attained such volume as to give an
impetus to the whole list The morning was
characterized by total lack Of interest in
the market due to renewed fears Of European
complications over the Cretan question. Ihere
were offerings for arbitrage account, but
without any manifest effect on prices Fhere
was some relief over the political OUTLOOK
reflected from the European exchanges later
in the day, which helped along the rally.
The anthracite coal roads were conspicuousiy
weak on the bad conditions existing In the
coal trade, New Jersey Central falling per
cent. This depression was also manifest in
participated in the rally which came later.
The industrials were subjected to the Gus
tomary manipulation during the day and
fuctuated irregularly. The volume OF trading
in this group. and especially in Sugar, was
considerably less than for some time past.
Tobacco and Leather preferred each advanced
13. per cent from the lowest. One OF the
features of the day was the advance III Lake
Shore of 35s TO 1873, the highest quotation OIL
record for that stock. There was supSe
uuent reaction of l point. The buying OF
Lake Shore was attributed to investment
orders The railways generally were prom
inent in the late session on increased ueal-
ings. with the grangers and Southwesterns
most in demand Proft-taking somewhat
checked the advance in the final dealings,
and caused an irregular close, with most OF
the shares showing slight improvements
The bond market displayed decided ANNA
lion with some of the usually neglected Is
sues figuring actively in the dealings. Inc
main tendency was upward put soliIe +o1oos
losses were registered in a few instances
The keen inquiry evident for gllt-eQgeu Sc
curities induced more general purchases vi
lower grade mortgages, particularly those VI
rolds in progress of reorganization. Ihe
foreigners continue to take large blocks OF
the principal international liens ana invest
ment houses report a heavy business over the
counter in all classes OF securities: Inc prIn
cipal advance was in Morris & Essex rs OF
AZ per cent, and the heaviest declines in
Peoria, Decatur. & Evansville firsts,, per
cent; Atchison, Colorado & Pacific hrsts.
per cent, and St. Paul, NJ. & M. 11a. Gov
eminent bonds continue to display activity
on purchases by financial institutions and
individual capitalists generally. The stagna-
ton in the stock market and the heavy de-
mand for various securities yielding 1alr
return on capital invested render these is
sues attractive with resultant higher prices:
The sales were SLIT 600. The total sales OF
STOCKS were 81 100 OCO.
The total sales of stocks today were III, 45o
shares, including Tobacco, 500; Sugar, Il
700; Burlington, 1900; Manhattan 5000;
Reading, 10000; ST. Paul, S,4OO; New Jersey
Central, 1920.
The following were I'll. fluctuations Of the
leading railway and Industrial shares, fur
nished by c. H. F. Smith & Co., members
New York stock exchange and Chicago board
81 do.