The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-09-02
THERE MIGHT HAVE BEEN 4
GENERAL SLUMP BUT FOR
THAT STOCK,
SENSATIONAL ADVANCE
OF MORE THAN TEN POINTS STIF
FENED THE MARKET AND
HELD PRICES UP.
SUGAR AND TOBACCO ALSO FIRM
Trading Was Small and the Market
Was Generally Featureless
at the End.

NEW YORK, Sept 1.-The indications from
today's market were that prices generally
would have suffered a material reaction had
1t not been for the sensational advances
shown by one individual stock. Buyers were
evidently possessed by furore of speculation,
and the difficulty of moving the prices of
most of the leading railroad shares led to
the securities being comparatively neg
lected. The sensation of the day
was the jump in the price Of Omaha, the
stock touching S21a in the final transactions.
The extreme rise was 1o24 and the net gain
point less. The stock was not exempt
from the depression which weighed on the
grangers, and. in fact. on most of the list,
during the early part of the day, and it sold
down " from last nights close. BY 1 o'clock
it had recovered the loss and gained over
! two points additional. But in little more
than an hour of the latter part of the day
the price mounted several points and was in
the full tide of advance when dealings ceased.
The trading was attended by great excite
ment. and the Dauses in the advance were
only momentary and at wide ranges. The
rise due to belief that the stock will
shortly be placed on a regular dividend basis,
the size of the proposed dividend forming
the subject of the excited speculation. North
western, which is in the relation of parent
4
but reacted partially, while Omaha was still
strongly advanced. Sugar also continued to
be an exciting center of speculation in the
morning and advanced three points on rumors
of distribution of surplus and of advantages
to accrue from the exclusion of Dutch re-
fined sugar. Tobacco also opened nearly two
points higher but this also the highest
of the day. The two stocks fuctuated in a
very erratic manner all day, but closed with
net gain of only 7s for Sugar and Is for
TobaccN Missouri Pacific touched 40 in the
opening transactions, but fell off during the
day on realizing to below last nights close.
The coalers made some display of strength
during the day, especially the Reading stocks,
but they succumbed to depression later. Rock
Island also advanced at one time over a point
above the lowest, as did Louisville & Nash
Vile, but the latter declined below yesterday s
price, and the former saved only a fractional
net gain. With these exceptions the list was
almost wholly given over to depression, the
days changes being small. The majority of
active issues show losses extending to q in
Northern Pacific preferred on its poor show
OF earnings. Railroad stocks that showed
sharp gains were Chicago & Eastern Illinois
preferred and Great Northern preferred Lake
Erie q western preferred, Mobile & Ohio
! st. Joe & Grand Island LIST preferred, and st.
Paul & Duluth The industrials as a rule
showed gains, notably in the Cotton Oil
General Electric, Metropolitan, Lead, Starch
Leather preferred and Oregon Navigation.
Laclede Gas lost over point and Detroit
Gas 3.
The bond market showed some falling off
in activity, the par value of bonds sold
amounting to, about SO, 600. Prices were
generally higher. United States new fours
registered sold at 1865. the highest price re-
corded. The 5s, coupon, sold at 113BQ114.
Total sales, $4,000.
The total sales of stocks today were 55S, 742
shares including: Atchison preferred, II, 574;
G: &. O.. % 135; Burlington, IS $50; L. & NJ,
16, 7Sl; Missouri Pacific, 1880; NJ. X. & T.
preferred, $3.50; New Albany Chicago 4,SO0
n. P; preferred $500; Northwest, $40; Read
ing, $50; Rock Island. 20,125; st. Paul, 81 4SO
St. Paul & Omaha, 725O; Southern Railway
$500; Southern Railway preferred, 5000; Tex,
as Pacific, 3340: Wabash preferred, 1850;
Cotton Oil, 1850; Spirits 7;7s5 Tobacco, 4oss5;
General Electric, 1880 Laclede Gas, 3125;
Lead, n,92O; Pacific Mail. 200; Sugar, 49,,
10; Sugar preferred, 1855; T. C. & l., II $40;
Leather, $3.50; Leather preferred, 100000 w.
u, 10,750: Chicago Great Western, 1863
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