The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-28
STOCKS SOLD OFF
THE NEW YORK CLOSE WAS WEAK
AT SLIGHT NET DE-
CLINES.
COALERS CONTINUED ACTIVE.
GENERAL TRADE VOLUME SMALL
AND VERY POOR IN IT'S
DISTRIBUTION.
LONDON WAS A SMALL FACTOR.
A Feature of the Session Was a De-
mand for Governments for In
vestment Account.
LONDON WAS A SMALL FACTOR.

NEW YORK Jan. N.-Stocks were again
limited as to the volume Of business today,
and the coalers attracted the main interest for
reasons that have for some time past been
familiar to the financial community. The
dealings generally speaking, were poorly dis
tributed, and even the coalers were only COM
paratively active. The regular railway shares
aside from the grangers, were unusually dull.
In the group mentioned a small increase in
st. Pauls net earnings for December proved
a more favorable exhibit than had been ex-
pected, and impaired irmness on the theory
that the returns Of the other grain carriers
would also show Improvement. The protracted
delay in perfecting a settlement of the differ
ences Of the bituminous carrying companies,
and rumors Of probable abandonment Of the
negotiations, together with continued sug-
gestions of the financial embarrassment of the
Hooking Valley road, encouraged a drive by
the bears, which forced the common down 2A
per cent to Z, the general mortgage 5s, S15 to
6S, and the IS per cent to 63. The securi-
ties were absolutely without support, owing to
the news that loans in which they had figured
were being thrown out.
The situation was aggravated by the publ
cation of statements that appeals for assist
ance that had been made by the management
had been refused, except on impracticable
terms The stock subsequently rallied IA
and the IS, "a per cent near the close, in
side information that the company had made
SIX months loan, averting all danger Of an
early default in interest. The news did not
become public until long after the close of
business. The anthracite coal Stocks on
relatively light dealings, were the weak fea-
lures and there were indications Of selling that
did not emanate from the recent bear quar-
ters Disturbing rumors in reference to
delaware & Hudson were in part borne out by
the hgureS of the preliminary annual report
showing only slight fraction earned on the
stock In 1896 over the reduced per cent
dividend declared recently for 1897. The re-
port ana not come to hand until few min
utes before the close. The full pamphlet re-
port, to be published about the middle of next
month. is expected to make decidedly I'M
favorable showing, including the creation of
a floating debt of 81 300. net decline Of 15s
per cent occurred in the stock
London operations in stocks were unimport-
ant. A feature of the dealings was a heavy
demand for government bonds for investment
account. Two blocks of $25000O each of the
new coupon As changed hands at 1871 6t238s
The pressure against the general list was quite
severe IN the closing dealings, especially upon
sugar, burlington and Louisville & Nash
Vllle. The closing was weak at slight net
losses generally.
The bond market was quiet and without
noticeable feature aside from the slump in
locking Valley issues, elsewhere referred to.
Inc sales were 81 ,3S7 600. Governments were
TO $5l3,OO0 OF the new coupon is. State is
sues We're strong and Slightly higher on deal
lngs OF $1,000: Silver certificates advanced "a
per cent to 65N, on transactions of 80 1000
The total sales of stocks today were go 15o
shares, including: Sugar, Is, POO; Burlington
1850; Chicago Gas, $500; D. & H, 1900:
Northern Pacific pfd, 1900; Reading, 400; St.
Paul, II 400.
The following were the fluctuations of the
leading railway and industrial shares, fur
nlshed by c. H. F. Smith & Co., members
New York stock exchange and Chicago board
of trade: