The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-02
A BOOM IN STOCKS
PRICES TENDED STEADILY up
WARD ALL DAY WITH SCARE
LY AN INTERRUPTION.
CLOSING AT THE HIGHEST.
NET GAINS FOR ALL THE ACTIVE
LIST OF A POINT OR
OVER.
CLOSING AT THE HIGHEST.
DEVELOPED IN SUGAR.
Early in the Day and Then
Went to Cover.

NEW YORK, Dec. with only insignif-
cant Interruptions, prices tended steadily up
wards all day on the stock exchange, clos
ing at about the highest, with a very buoy
ant tone. Net gains exceed a point in near
ly all stocks. The advances at the opening
were trivial, and trading was not very &C
tive, but as the day advanced the scope OF
the speculation broadened and assumed a
more aggressive and confident tone. The
strength of the market developed first in
Sugar and spread gradually through the
market, separate stocks being advanced
sharply one after the other before the whole
market took up the movement. Missouri Pa
cific, Tobacco, Michigan Central, Illinois Cen
trail and Cotton Oil preferred were among
the earliest affected in the order named
Later the coaIers developed strength, and 1t
was not until the closing hour that the
grangers and the market generally responded
in any marked degree. Some of the stocks
which developed most activity and strength
yesterday. were somewhat neglected today,
while the rest of the market rose to a pro-
portionate level. The bear element did not yield
without a struggle and was not driven to
cover till late in the day, when the scramT
BILE of the shorts materially aided the rise.
There was no news Of Importance during
the day, the bullish sentiment on the ex-
change being rather crystallizing of sew
eral days impressions. The successful con-
clusion of the Rock Island refunding scheme
continued to be much talked of, as did the
favorable railroad statements for October
The Burlington statement especially was in
terpreted more favorably than yesterday, the
earnings reported being exceeded only by
those of September of this year. The small
excess shown over the earnings of October
last year is due to the fact that last years
earnings for that month were exceptionally
large. The almost total subsistence of appre-
hension over the Cuban question also had
it's effect. There was some awakening Of out
side interest manifested in the buying through
commission houses. This was not on large
scale, however, and the days rise was for
the most part due to the operation of a pow
erful interest.
The stock of Southern railroads showed a
notable tendency to lag. The October state
ment Of Louisville & Nashville probably had
its influence on this group, showing, 1t
did, heavy decrease in gross earning, COM
bined with an increase in operating expenses,
which brought the decrease in net earnings
up to $127, S31. 1t is significant of the dull
ness of business which has prevailed in Wall
street for some time past that a stock
change seat which offered at auction
today found no bidders, and was bought in
for SIT, coo for the estate which offered it. 1t
should be stated in this connection that the
ownership of a seat does not carry with it
membership in the exchange without cleo
ton, and that the customary method OF SELL
ing seats is through the officials of the eX-
change itself No impression was made on
the money market today by the periodical
interest and dividend disbursements.
The bond market strong and very &C
tive, the speculative issues showing nota-
BILE advances; Total sales, 100000. United
States new tours advanced Is bid.
shares, including: Atchison preferred, 5,729;
Burlington, 27,e3S; L. e NJ 1850; Manhat-
tan, 1885; MISSOURI Pacific, 1886; N: j.
Central, $3.50; N. Y. Central, 1884; Northern
Pacific, 4,21O; do preferred, 13, 543; North
western, 1895; Rock Island, 25,1S9; st. Louis
& San Francisco second preferred, 1850; St.
Paul, 40, 54S; st. Paul & Omaha, 5,179; Union
Pacific, 5,05S; Cotton Oil. $50; Tobacco, 49,,
$685. Bay State Gas, $3.50; Peoples Gas, 49,
CAS- Consolidated Gas, 1926; Sugar, $3.50;
do preferred 1,4SO; Western Union, $780,
Chicago Great Western, S.245.
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
nf