The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-07-29
INCREASED BY THE ADDITION OF
A NUMBER OF USUALLY DOR
MANT ISSUES,
LONDON A SMALL FACTOR.
SENTIMENT THERE REVERSED BY
HEAVY BUYING FROM NEW
YORK.
NO IMPORTANT DECLINES SCORED
Changers and IndustriaIs Closed
FractiOnaiIy Higher and Were
In Good Demand All Day.

NEW YORK, July 2S.-The dominating in
huence in the stock markets strength today
was the prosperous grain trade outlook.
Probably over half a million bushels of wheat
were engaged for export to the continent al
though only some third of a million was re-
ported from outports. The favorable weekly
government grain report was doubtless a
factor in the recovery of confidence to the
disconcerting of the reactionists, on the
stock market. But little effect was felt in
the early dealings from lower London quota
lions, as the continuance of recent heavy
buying by New York on the London ex-
change reversed that market. Americans
there closed at the best prices of the day.
Atchison in particular attracting attention.
AS London in the early dealings did not
respond very quickly to the local strength,
arbitrage brokers found frequent opportuni-
ties to buy in London and sell at a profit
here. Meanwhile, however, Louisville, Atchi-
son, Southern and Reading were purchased
here for foreign account.
There was much variety and breadth to the
dealings here with heavy commission house
orders from practically the opening to the
close. More stocks were active today than
at any time in the present upward movement
Cotton Oil, Lake Erie & Western and Oregon
Navigation shares and other usually dormant,
as well as the more active stocks, as for
instance, Sugar and Atchison preferred, were
features in the days dealings. The indus
trials and grangers on large dealings aroused
considerable interest, being up fractionally
Southern railway properties, including Louis
vile and Southern preferred, were I'D over
point each on prospective increased earn
1ngs when cotton begins to move freely
Rumors that the results of the Wabash
hscal year would be better than recently ex-
pected caused the preferred to rise over
point. Sugar after fluctuating erratica.ly
touched 1884. Two per cent of the gain was
lost, however, in the final dealings. leaving
the net gain less than a point. The raid
had but little influence on the rest of the
list, the buying continuing good up to The
close, although some spectators realized
pronts on purchases made earlier in the day.
On Boston and local buying Rubber preferred
gained per cent, and the common fraction
ally, on reports that the former president of
the company had made an agreement with
the present management. Rock Island
gained nearly point ON information that
the earnings for the third week in July
would show large increase over last year
showing the large volume of business now
being handled by the road. This report was
said to have been received by some of the
directors.
benefited the properties concerned. They
were that action might be taken on the
dividend for Louisville before the January
meeting, and that per cent would be paid
on the Atchison adjustment in October On
less than the usual dealings Tobacco rose
fractionaliy. There were no important losses
and the principal net advances were: Rub
Der preferred, 25s; Cotton OIL 2A Lake Erie
& Western preferred, 25s; Oregon Navigation
Z9s; oregon Navigation preferred, 31A; South
ern preferred, Atchison preferred, Cotton Oil
preferred, Standard Rope, Lake Erie & West
eTn, Louisville, Southern preferred ST. Paul
Duluth, American Spirits, common and
preferred, Wabash preferred, and St. Louis
and. Southern preferred, 1.
A keen inquiry developed for Atchison ad-
justment As in the bond market which moved
up 2 per cent to 54%. This issue has been
rather neglected of late, and the revival Of
activity was attributed in part to foreign
purchases, based on the excellent outlook for
increased earnings by the Southwestern roads
The general bond market moved I'D SHARPLY
on heavy dealings, which included a cons ider-
able variety of securities. The aggregate
sales were So. 900. Governments were quiet,
but continued to tend upwards. The aggre,
gate sales were $4,000.
The total sales of stocks today were S99, 800
shares, including: Atchison preferred 80 344.
G. o., 400; l.. E. & w. preferred $500:
Manhattan, 5,225; Missouri Pacific, 3,205; K
& T, preferred, ALSO; N J. Central $3.50; st,
Paul, q. 7S5; st. Paul G Omaha, $3.50; South
ferred, 1880; Union Pacific, 6,445; Wabash
preferred, $3.50; Cotton Oil, 4,2G1; Tobacco,
1920; Bay State Cas- 1885; Chicago Gas
1923; Lead, $3.50; Standard Rope & Twine
1884 Sugar, $4,000; Rubber, $751; Western
Union, $500; Chicago Great Western 400.
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: