The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-02
LAKE SHORE BULGE
TEN POINT RISE THE FEATURE OF
THE NEW YORK STOCK DEAL
MARKED BY ACTIVITY.
ADDITIONAL BUSINESS DONE IN THE
SHARES OF RAILWAYS AND
SPECIALTIES.
GAINS AND LOSSES ABOUT EVEN.
Aside From the SpeciaIties Net
Changes for the Day Were Con-
fined to Fractions.
MARKED
GAINS AND LOSSES ABOUT EVEN

NEW YORK, March The stock market
today was characterized by a continuance of
the marked activity as compared with bust
ness Tor number Of weeks which was the
feature OF Saturday. The greater part of the
additional business was done in the shares
OF railways and specialties, the industrials
railing off to some extent in the volume of
transactions, but still remaining notably
active. There were some 1T 900 shares Of
STOCK sold today, not an extraordinary figure,
but very notably larger than for some time
recently The fact that considerable buying
was done through commission houses was an
indication Of the growth of an outside inter-
est in the market. The most notable fea-
ture was the sensational rise in Lake Shore
by wide jumps to 172, ten points on the day.
1t subsequently reacted to 167. The maximum
ngure was registered in the first As minutes
OF trading when the bulls were in control of
the market and the tendency of all prices was
upward.
calculations Of the benefits expected to ac-
crue 10 the stocks from the probable refund
ing, at low rates of interest, of about S44 000 =
OOO OF bonds which mature in the next five
years, were largely responsible for this rise,
though rumors were current of a short inter
est in London. The Vanderbilt stocks all
enjoyed an advance in sympathy with Lake
Shore, New York Central Illinois Central,
Michigan Central, all improving / to III
points. Manhattan fell off on renewed doubts
OF the amount of the next dividend and of
the traftic prospects and cost Of betterments
OF the road. This was effective in turning
the course of prices in the whole list. The
GoaIers 1ell IN immediate sympathy with New
Jersey Central, which was raided by the
bears, the effect being a decline of "a in the
latter and 13sc in Lackawanna; 3zc in Della
ware & Hudson, and re in Reading. The
grangers were more heavily dealt in than
any other group and showed firmness. The
ST. Paul statement for January though show
ing heavy decrease in earnings was com
pared with so favorable q showing last year
tnat 1t was we'll received. These stocks suf-
iered from the general reaction brought about
by the bears,
All of the well-known high grade shares
were IN extensive demand for investment and
showed gains ranging from l to 5 per cent
on purchases of odd lots. The In6ustrials
infatuated quite widely On manipulation and
showed small net losses. The declines in
the general list were not as a rule above .
point, except in Tennessee Coal e. Iron /:
Gh1cago Cas- rs, and Consolidated Gas IL.
The international shares sagged in sympathy
with the general decline, notwithstanding
London support Louisville and Nashville
also being affected by the statement for Ian
| uary, which showed a decrease in net earn
1ngs of $12S 272. Rallies were FREQUENT. hut
prlehy sustained after the decline the clos
ing showing fractional gains and losses pretty
evenly divided, except for the losses in the
specialties, which were very pronounced.
The bond market displayed general firm
arS" " III sll6HC GAINS III NUMBER OF issues.
The sales were 81, Isl, 900. Governments CON
tinue to tend upward with the old As con-
splcuous in today's trar:actions. The sales
were 1922, GOO.
The total sales Of stocks today were 40, 1852
shares, including Tobacco, 6,7G0; Sugar, &c.
400; Burlington, $4,000; Chicago Gas, $500;
L. N, 5,OoO Manhattan, II, 800; Northwest,
800; Northern Pacific pfd, 400; Reading,
400; St. Paul, 201G0; Tennessee Coal &
Iron, 300; Jersey Central $500.
me 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.