The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-24
STOCK MARKET RELIEVED OF
THE RESTRAINT or THE
LAST WEEK.
THE BUYING IN BIG BLOCKS.
SHARES RECENTLY SOLD REPuR-
CHASED AT THE LOWER LEVEL
OF PRICES.
POINT GAINS FOR MOST ISSUES.
Commission Houses Again In the
Market for All of the
Active Securities.

NEW YORK, Aug. 23.-The stock market
today shook itself free from the heavy re-
straint which imposed upon 1t during
all of last week and bounded upward again.
Today the large dealers who threw their hold
ings upon the market last week to realize,
bought back stocks in enormous volume and
brought the level of the market about up to
that of last Monday. That great moneyed in
terests were concerned in today's buying was
shown by the heavy blocks of stocks that
changed hands and by the extensive buying
of bonds. There was one order for any part
of 81, 100000 of a bond issue, which is a ia
vorite in the speculation at present. The COM
mission houses, which had withdrawn from
the market last week and had joined the
selling movement towards the latter part of
the week, were out in full force again in the
market today. 1t was a movement of the
large dealers to buy back at the lower level
what they had sold.
The motive of the abandonment of the bear
movement and the resumption of buying was
a growing sceptcism regarding the reports
of reduced spring wheat crop in the North
west. The enormous liquidation in the wheat
market gave confirmation to these doubts
The continued rise Of wheat in England and
on the continent on the other hand was con-
tinuing evidence of the foreign need for wheat
gave
seaboard to transport grain and back again
to transport merchandise which the farmers
profits would buy.
The strength of corn and cotton in London
also aided the stock market. The fact that
foreign houses sold grain in the market and
that purchasers for export were largely cur
tailed did not prevent sterling exchange from
weakening 7sc for actual rates for both long
and short bills, the former falling to
$4.S33s and the latter to $4.SS1.. This reflects
the warning influence of the measures taken
by the Bank CT England to defer the move
ment of gold to this country, and was a
Strengthening factor in the stock market.
The grangers and all grain carrying roads
led the Improvement, Burlington leading with
2% per cent. The Vanderbilt shares and
Southwesterns, the Gould stocks and the in
ternational shares were all very strong and
active, and few failed to show net i'm
provement of at least point. The anthra-
cite shares, especially the Reading issues,
were also active and strong. Leather pfd.
was largely dealt in at an advance. Atchison
pfd. gained rs; Illinois Steel, 4; L. & N,
and Chicago Great Western, Az.
The bond market showed reawakened
activity, the Atchison, Erie and Northern Pa
cifc gained 15s for IS; Atchson adjust
ment As 1ss and Erie IS I'D.
The total sales of stocks today were 449, 1862
32,2S5; C. & O., $3.50; Burlington, 47,OS0; I'LL
nois Central, $3.50; L. NJ 1880; Manhat-
tan, $500; Missouri Pacific, S,579; do pfd, g.
675; New York Central, $500; Northern Pa Pa
ciic, 1901; do pfd., 1888; Reading, 1926;
Rock Island, 2O,32O; St. Paul, 5000; Southern
Railway pfd., S,2S4 Union Pacific, 1859;
Spirits $500; Tobacco, 1855; Chicago Gas,
1850; Pacific Mail, $3.50; Silver Certificates,
5000; Sugar $500; T., c. & l., $3.50; Leather,
1920; do pfd. 26,02O; Western Union, 1920
Chicago Great Western, 1906.
The following were the fluctuations of the
leading railway and Industrial shares fur
nished by c.. H. F. Smith & Co., members
New York stock exchange and Chicago board
NJ