The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-06

NEW YORK, March 5.-The undertone of
frmness in the market today and its stub
born resistance to the rather discouraging
tone reflected from Europe were notable feat
ures. The day opened with a decline, due
to the alarm manifested on the London and
continental bourses over the threatening as
pect of Cretan questions and to sales for
London account Of International shares. This
decline was soon checked, however by
quite a strong buying movement coming
through commission houses, apparently for in
vestment account. The natural disposition of
the market seemed to be to rise and wipe
out the decline Of yesterday, which Is at
tributed generally today to reaction and
proft-taking. There was, in fact, a general
advance in prices, which held for the greater
part Of the day. Much the same influences
contributed to the rise as early in the week
the Vanderb:lts being in excellent demand.
New York Central especially was strong
the belief that it would ultimately benefit from
a refunding operation similar to that just
concluded by Lake Shore. The shares rose
IA to 9Sc Lake Shore gained 2Ac and North
west and Omaha 1hc. The high priced invest
ments stocks also recovered part of the loss
of yesterday-Omaha preferred, Nor Invest pre-
ferred and Chicago & Alton gaining from
l to per cent The grangers also, and In
fact the whole railway list with few excep-
lions, shared in the advantage given to prices
by the strong upward tendency of the Wander
bits and rose strongly Commission house or
ders extended over wide range of shares
and gave variety to the market. OF the
granger group, Rock Island and Northwest
gained IA and st. Paul q, the latter in
face of heavy London selling. An est mated
aggregate of sales for London account of
10000 shares credited fully one-th third of that
amount TO St. Paul.
The industrials showed strength and had
appal emily fully recovered from alarm over
President McKinley's antitrust utterances.
Sugar advanced 1a4c, Chicago Gas 1c, Leather
preferred 1Ac, and General Electric 13sc.
E'en the anthracite coal group displayed
more strength than of late. This encourag-
ing progress OF events was retarded about 1:30
p m. by movement to take profits. The
continued sales of London orders added to
the weight on the market. There was also
in the minds of the traders some expressed
uheaslnesS to hear some more explicit and
authoritative announcement of the new pres
ident's Cuban policy than has yet been given
and to wait for this development The re-
cessions were quite sharp under these infu-
ences, Manhattan yielding 1hc, Sugar 1c,
New York Central 1c, St. Paul and Omaha
1c; Pullman, 2hc, and many other shares
notable fractions. The undertone of firmness
in the market was indicated by the immedi-
ate relaI Sc into dullness when the downward
trend of prices generally showed a slight gain
CT the Gay.
The demand for high grade mortgages con-
tinues undated. The S.. Paul lines were I'M
usually prominent and displayed the most ag-
sressive strength, the Improvement ranging
up TO Per cent. The speculative issues were
also in favor and moved up slightly despite
the free offerings for continental account. The
sales were $1,476,000. Governments were in
good demand and hardened slightly on pur-
chaSes o. 1855, coo.
The total sales of stocks today were 1856 1858
shares, including: Sugar, 80, 600; Burlington,
1880 Chicago Gas. 1890; General Electric,
$500; Manhattan, $500; l.. G. NJ, $500; New
York Central, $500; Omaha, $500; Rock
Island, $500; st. Paul. 1880.
The following were The fluctuations of the
leading railway and Industrial shares, fur
nished by G. II. F. Smith e. Co., members
New York stock exchange and Chicago board
of trade.