The Saint Paul globe., 1897-07-10
FINAL HOUR RALLY BROUGHT
PRICES ABOVE THE PREVIOUS
DAYS LEVEL.
DUE TO SPECIAL INCIDENTS
NO GENERAL NEWS TO ACCOUNT
FOR THE MOVEMENT OF
PRICES.
OMAHA AND GREAT WESTERN Ur
General List Helped Out by Strength
in Neglected Shares of the
Granger Group.

NEW YORK. July 9.-The result of the
days trading Is a small average net gain
in the price of stocks The larger part Of the
sales during the day were made at prices
considerably below yesterdays close, and 1t
was only in the final hour that a covering
movement stiffened prices to a level above
last nights close, and a point over above
the low level Of today in many shares. There
was no news to account for the general
movement of the market unless it was the
continued good prospects for crops, which
sustained the grangers. The strength OF Des
Moines & Fort Dodge and Chicago Great
Western continued and attributed to
belated share in the improvement which has
been general in the market for several
weeks, and which precipitated by mar
ket operation Of inside interests of those
properties Pacific Mail was very active
and notably strong on the reputed intention
of the directors to raise the dividend rate.
Omaha was favorably affected by story that
the proposed blanket mortgage for ,OOO-
O00 authorized by the Northwestern directors
for refunding operations is to be applied to
the refundng of Omaha issues as we'll,
through the merging of the two roads This
rumor affected Omaha more markedly than
it did Northwestern itself, and, in fact gave
an impetus to prices in the whole market.
New York Central sold up at one time dur
ing the day on reports that its officials had
secured a controlling interest In the Lehigh
Valley The stock reacted sharply upon
denial Of this report from accepted au
thority both New York Central and Le
high Valley affairs. Chicago Gas was vigor-
ously attacked, and sold down 1% below last
nights close on report that the plan Of
| consolidation included an increase of the
bonded debt. but practically all of the loss
recovered subject
the usual flood of rumors regarding the in
above last nights close nearly all day, and
closed with a net gain of a point, rising
sharply at the close covering.
The market almost wholly made up of
such special incidents the above There
was marked diminution in the volume of
dealings, and Sugar, st. Paul, Burlington and
Pacific Mail absorbed about half the total.
Des Moines & Fort Dodge and Omaha gained
1as net each, and New York Central a point,
Otherwise gains Of fraction were general.
brisk inquiry prevailed for the middle
grade bonds and some substantial improve
ments were recorded. The general market
also advanced slightly, while a more cheerful
sentiment prevailed throughout the dealings.
The aggregate sales were $1,450,000. The
principal gains were in Susquehanna & West
per cent: Brooklyn Transit 5s Standard
Rope 5s displayed some irregularity but
closed practically unchanged. Government
bonds were q shade lower al around. Trans
actions were $40 900.
The total sales of stocks today were 15S 1896
shares. including: Sugar, 1880; Burling
ton ton 300; oeo Chicago Gas. 400 New York
North American, $500; Rock Island, Is 600.
The following were the fluctuations OF the
Leading railway and industrial shares fur
New York stock exchange and Chicago board
of trade: