The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-07-20
HIGH PRICE LEVEL
NEW YORK STOCK MARKET
ALMOST UNPARALLELED FOR
A JULY DAY.
THE BEARS BRUSHED ASIDE.
NEW HIGH RECORDS SCORED BY
SUGAR AND THE GRANGER
GROUP
THE BEARS BRUSHED ASIDE
ENORMOUS DEALINGS IN BONDS.
London Caught Short on St. Paul
and Given n Decided Squeeze
Sharp Net Advances.

NEW YORK July 19.-The stock market to-
day was almost unparalleled for a July days
trading, both in activity and strength. Such
influences as a moderate export of gold to
canada and some decreased earnings for the
SECOND week OF July, were brushed aside
as chaff and nothing was talked of on the
exchange but speedy action on the tariff. ideal
weather for excellent crops and foreign de-
mand Tor our securities as well as grain. En-
ormous dealings in bonds at advancing prices
was a MT accompaniment for a broadening
STOCK market. Sugar scored an extreme adj
vance Tor the day of 10A, touching IA, break
ing all previous high record prices. At the
opening six thousand shares were sold at
from 1876 to 139. Tremendous blocks of the
stock changed hands at almost uniformly ris-
ing prices. Six thousand shares were taken
by a brokerage house reputed to represent a
most powerful interest which is credited with
having recently acquired large quantities Of
tnat security. The argument that the new
sugar schedule would result in some increase
in protection over that provided in the pres
ent law stimulated extensive covering on the
part of the shorts. In the closing hours, the
stock eased off a trife, reaching 2% below the
best, but loaned at n per cent premium for
use over night. Sugar preferred also had
shown an extreme gain for the day Of 8 per
~NHS, WV POihIS VI ulC was ldIcT Ou lOSI.
Standard shares, however, showed an aver
age rise at the close of 8 per cent. London
was caught short in both st. Paul and Louis
vile & Nashville, and the foreign purchases
considerably exceeded the sales The rail-
way list was generally Influenced by further
reports OF foreign crop shortages and pre-
dlctlon of improved earnings due to excellent
progress of American crops. A number of
prominent railroad shares made new record
prices, especially the granger roads. Chicago
Gas, on reports Of another dividend being pos
s1Dle on the present trust receipts, and
American Tobacco, on the concessions made
on the tobacco and cigarette schedule, each
closed at a point advance. OF the large in
dustrial shares Rubber pfd. lost ~; Read
ing pfd. stock, on improved trade conditions
and earnings, rose over, a point. Other net
changes of a point or more not hitherto emu
merated follow: Detroit Gas, 8; National
Starch 1st pfd., 81; do End, pfd., 4; P. c.
c.. & st. L. pfd., 81; Northern pfd., 8; C.. C.
c.. & ST. L., Erie lists; D.. & R. G., Con. Gas,
Central pfd., Lake Erie & Western, Manhat-
tan, Metropolitan Traction, Minnesota Iron,
New York, c. & L. second pfd. and Northern
Pacific pfd. showed advances, while Northwest
and Brooklyn Rapid Transit showed fractional
declines.
The bond market was featured by enormous
transactions which aggregated So, 42O, 600, and
O--N NN FoAASk VI sue liz
tendency was upward throughout, which
thoroughly reflected the growing confidence in
the financial and commercial situation. Pur-
chaSes by foreign interests were generally
noted and round amounts of the speculative
issues were taken for local account. The
extreme gains ranged UP to 4 per cent with
Oregon Improvement 5s Trust Receipts lead
in. Governments are neglected but generally
firm. t-.,
The total sales of stocks today aggregated
1882, 800 shares, including: Atchison $500; do,
pfd. Is, 800; Burlington &c, 270; L. & N. H.
725; Manhattan 3,100; Missouri Pacific 1920;
do, pfd. $500; N. Y. Susquehanna & Western
pfd. 1900; New Jersey Central $3.50; Northern
Pacific pfd. II, 800; Reading IS, 800; Rock ISL
and q, 400; ST. Paul AZ, 800; st. Paul & Omaha
$500; Southern Ry. pfd. 200; A. Tobacco 49,
900; Chicago Gas 13, 400; Lead 5000; Sugar
116, 400; do pfd. $685.; Leather pfd. 1900.
The following were the fluctuations of the
leading railway and industrial shares fur
nished by G. H. F: smith & Co., members
of trade: