The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-12
UNION PACIFIC SOLD
LIQUIDATION IN THE STOCK A
FEATURE OF THE DAYS
DEALINGS.
GENERAL LIST affected.
SHARE MARKET WAS GENERALLY
HEAVY AND IRREGULAR IN IT'S
MOVEMENT.
THE FATE OF THE FUNDING BILL
Believed to Have Been Discounted,
But the News Caused Weakness
Net Changes Small.
GENERAL LIST Affected.
THE FATE OF THE FUNDING BILL

NEW YORK, Jan. 1.-THE market
today was generally heavy and irregu-
lar Of movement under the influence
of liquidation in Union Pacific, firm
Ell market for exchange and unfavor-
able traffic returns for the first week
in January The volume of business
was very light and the dealings main
ly professional The specialties were
prominent and scored exceptionally
wide fluctuations, in some instances,
particularly Illinois steel, which, after
yielding fraction to 31A, rallied to SO,
Minnesota iron, on the other hand,
falling Az to 81. The high-priced coal
shares were decidedly heavy on re-
PORTS of an unsatisfactory condition
of the anthracite trade. LackaWanna
sold off per cent and New Jersey
Central IL per cent on the theory that
the management of the respective COM
panies will be forced to follow the
lead Of the Delaware & Hudson and
reduce their dividends Pressure was
exerted against certain stocks for eff
feet upon the general list Further
discussion of the alleged radical cuts
in soft coal prices by the Baltimore &
Ohio was followed by a break of 3A
per cent in Wheeling & Lake Erie, pre-
ferred to 235s.
Union Pacific was the feature of the
railway list and was quite irregular,
on a downward movement, being in
fuenced by Washington dispatches
forecasting and finally formally an
nouncing the defeat of the funding bill.
The fate Of the measure had been be-
lieved to be fairly we'll discounted, but
the news caused decided weakness
The stock overshadowed the general
list In point OF activity. 1t opened up
u per cent at SB, but sold off to and
rallied to SA on covering, subsequently
yielding to 6A or fraction below the
price ruling after the defeat of the
Riley bill the reorganization syndi-
cate had evidently lost hope of the
passage Of the bill, as evidenced by it's
preparations to step in and buy the
property if offered at foreclosure sale.
London purchased freely OF the Inter-
national shares, but the traders APP
peared to favor a reaction. Manhat-
tan and General Electric were ham
mered 19s and IL per cent respectively
The other declines were mainly frac-
t1onal, and support was received at in
tefValS or covering OF short contracts.
The general list developed a better tone
in the late trading under the leader
ship of Sugar, and the market left off
firm at slight net changes.
Bonds were fairly active and as a
rule higher PRICES were scored. The
sales were $1,21p, 900. The principal
gains ranged from y to IL per cent
and the more important declines from
1 to per cent, Jthe last in Tennessee
Coal lists, Birmingham division Gov
ernments were in moderate demand
and rose slightly on sales Of SAB, 500.
State issues We're firm on sales of ST.
600.
The total sales Of stocks today were
127,584 shares. including: Sugar, II 100;
Burlington, 1900; Delaware & Hudson.
3,100; st. Paul. 5000; Tennessee Coal &
Iron, $500; Union Pacific, 43,8OO; West
ern Union, 300; Wheeling & Louis
Vile, $780,
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: