The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-29
INCLINED TO BUY
BULL SIDE OF THE STOCK MAR
KET FAVORED BY THE
TRADERS.
NET CHANGES FRACTIONAL.
NORTHERN PACIFIC AND OTHER
LOW-PRICED SHARES WANT
ED IN LONDON.
AGGRESSIVE STRENGTH IN BONDS.
The Movement Was Well Distribut-
ed and Advances Averaging u
Point Were Scored.

NEW YORK, Jan. 28.-The stock market to-
day developed little feature, and there was a
decided absence of news bearing upon the
general situation, aside from the announce
ment that an agreement had been arrived at
by the Ohio soft coal roads to be operative for
one year. The news did not exert as much
influence as its importance would appear to
warrant, owing to the decentralization that
has resulted from the savage and long contin-
ued cutting of rates and prices. Hooking
Valley scored a decided improvement,
however The common rose IA to
10Ac, and the general mortgage IS, 4A per
cent to IS. The other securities of the road
were not dealt in, but substantial advances
occurred in the bid quotations. The general
market sympathized to a moderate extent.
London prices came higher and foreigners
exhibited a disposition to purchase small
amounts of the low priced stocks, particular
ly Northern Pacific common and preferred,
which were stronger and more active than
for some time past. The traders appeared
inclined toward the bull side, and there was
disposition on the part of the short interest,
which has recently made a strong play against
the coal stocks, to facilitate covering pur-
chases in the general list. Satisfaction was
expressed by the bulls over the continued
increases noted in bank clearings and i'm
provement in the traffic earnings reported.
The declaration of the Initial dividend
Omaha common proved to have been temper
arily discounted so far as the price of the
company's securities was concerned. The an
thracite coal stocks were helped by covering
during the greater part of the day, but sagged
fractionally toward the close in sympathy
with concessions in the general list, due to
realizations. The market very dull at
intervals, but the light aggregate of trans
actions fairly we'll distributed. Man
haitian doomed into prominence in the late
session, and receded rs per cent on the ac
emulation of rumors of the probability of
a large issue of bonds. The recent acquisi-
ton of the Second avenue surface line by
practically Metropolitan Traction interests
was also advanced as a bear argument. The
grangers and high-prced industrials moved
within a narrow range. Dealings in specu-
lative bonds were on a lighter scale than
usual recently. The eception included Atchi-
son As and Northern Pacific general 3s The
last mentioned were taken largely for foreign
account at improved prices. The market
closed heavy at unimportant fractional net
changes.
The bond market displayed aggressive
strength. The movement was well distributed,
and advances were scored ranging from l to
113 per cent. Governments were quiet but
strong in tone on sales of $50, 600.
The total sales Of stocks today were 81 SOC
100; Burlington, 1900; c., H. V. & T., 5000;
Manhattan, 500; Northern Pacific pfd, $500;
st. Paul. 9,100; Silver Certificates, $4,000.
The following were the fluctuations of the
leading railway and industrial shares, fur
nished by G. H. F. Smith & Co., members
New York stock exchange and Chicago board
of trade: