The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-14
STOCKS OF WHEAT ROADS HELPED
OUT BY THE GOVERNMENT
REPORT.
THE GENERAL MARKET WIDE.
BUYING VIGOROUS, WELL DIsTRIB-
UTED AND AGGRESSIVE FOR
THE WHOLE LIST. ,
NET GAINS ALMOST UNIVERSAL
Confined to Fractions for the Most
Part, But Larger in Railways
and COaIers.

NEW YORK, Dec. 13.-The days market
for securities offered every appearance Of
breadth and strength, the buying being Wig
orous and aggressive and well distributed.
The fact was not to be ignored, however,
that the stocks Of Southern and Southwestern
roads, which were favorttes with the pulls
last week did not spread in the advance pro-
portionately, the price being kept down by
liberal offerings A decrease in earnings
for the first week in December reported for
Louisville and somewhat unfavorable show
ing for the same period by Chesapeake &
Ohio, may have accounted for this, but there
was suggestion Of profit taking in the move
ment of these stocks in face of the general
strength manifest elsewhere in the market
The Jump in Sugar to 145A in tn course Of
the first hour stimulated the whole market.
The dissemination of rumors that an extra
dividend was again under consideration was
the instrument employed to effect this rise,
and the motive Of it appeared in the heavy
offerings at the higher level. The stock was
supported, however, at a certain stage or
any decline all day and closed at net adj
vance of over a point
The government crop report, with Its re-
vised estimateof wheat crop, of $40, COO bu,
caused lively outbreak Of speculation In
the grangers, though depressing the ruling
price for wheat, this heavy yield to draw on
being regarded as insuring prosperity to the
wheat carrying railroads. Still another ele-
ment Of strength in the days market was
the jump in price Of Metropolitan street rail-
way. This stock rose nearly points, to
125, in strong contrast to the persistent heavi-
ness in Manhattan, which dropped at one time
nearly points on account of published re-
ports that syndicates had already been formed
to finance the proposed underground rapid
transit plan. Manhattan fully recovered be-
fore the close and shows a small fractional
net gain.
Union Pacific showed a sharp recovery from
its recent depression on the strength OF in
spired reports that the reorganization could
be carried through with moderate increase
of the proposed bonded Indebtedness and pre-
ferred stock and that the subsidized portion
of the Kansas Pacific was not deemed es-
sential to the success of the plan. There
was some heaviness in local gas securities
owing to current rumors Of difficulty in the
way Of the proposed amalgamation Of local
companies.
The days buying was in large part pro-
fessional and commission house business was
ON a small scale. London was, however, a
liberal buyer of stocks in this market Quite
a marked feature of the day was the large
number OF small lots Of diddend paying stocks
which were bought. This class of buying
appeared in the gilt-edge investment stocks,
which rarely move. but was also manifest
all through the list of dividend stocks.
feature of the day was a stiffening OF call
loan rates to 3 per cent though the rate
eased off again before the close. The rise
in the rate was attributed to sudden and
rather urgent demand while offerings were
rather light, for the time being. Other de-
partments Of the money market We're unaf-
fected. Net results OF the days trading
were very uneven, net gains exceeding a
point in grangers, the coalers and Baltimore
& Ohio, but showing small fractions for the
most part in the general list.
The bond market continued active and
strong, the Atchison & Northern Pacific is
sues being prominent. Net advances of from
1 to 2 points were shown in number of
bonds. Total sales, So, $50 900. U. S. old
Is registered were advanced a bid, do coupon
I'D while the new IS declined B bid.
Total sales of stocks today were $40, 500
shares, including: Atchison pfd, 1883;
Burlington, 3O,597; Manhattan, 1880; Mis-
souri, Pacific, S,515; N. J. Central, 8,OS5; n.
Y Central, 1886; Northern Pacific, S,915;
do pfd q, $50; Rock Island, 16, $50; st. Louis
& San Francisco, first pfd, 9,730; do I'd pfd,
6,391; st. Paul, a. go; Southern R'y pfd, y
643; Union Pacific, 1880: Tobacco, 5,318;
Chicago G. W., 1889; Peoples Gas, 1L705
Consolidated Gas, $3.50; Sugar, 1866; Rub
Der, $3.50.
leading railway and industrial shares fur
nished by C. IL. F. Smith G. Co., members
New York stock exchange and Chicago board