The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-09-08
THE PRICE OF THE PREFERRED
STOCK PUSHED UP FOUR
POINTS.
BEAR PARTY AGGRESSIVE.
HEAVY REALIZING SALES AN AID
IN DEPRESSING THE PRICE
LEVEL.
FRACTIONAL NET LOSSES GENERAL
Buying for London Account u Factor
at Times During the Day
Bonds Strong.

NEW YORK, Sept. 1.-The bear party was
better defined and more aggressive in today's
market than it has been for several weeks
and got the ascendant for time over the
large bull contingent. The desire of some
of the very heavy operators in the bull party
to realize profits was itself source of weak
ness. But the bears made most capital out
of the yellow fever outbreak in Mississippi
The stocks of roads which traverse the region
Immediately infected, notably Louisville &
Nashville, were most keenly affected Louis
vile Nashville declined at one time 2
points below Saturdays close and other South
ern roads were more or less affected the
whole market going off in sympathy with the
weight of heavy realizing sales. These in
cidents somewhat interfered with the plan
of operations of the bulls, which was not
essentially different from that pursued each
day last week. The stock selected today for
an advance to sustain the rest of the market
was Northern Pacific. This stock has not
shared in the recent improvement in prices,
owing to the poor showing Of earnings made
IN the weekly and monthly reports of the
company. But the apparent weakness in
earning power of the company was disregard
ed today and the price of the preferred stock
was raised by manipulation
The days trading last week was preceded
each day by the circulation in the street of
a tip as to which stock was to be pushed
up during the day. This policy was pursued
also today with the effect of stimulating spec
ulatlon IN the stock named and aiding the
bull plan. They were also assisted today
by the livelier speculative interest on the
part OF London than has been manifested
since the present rise in prices Prices were
higher in London before change here
and buying for London account was quite a
prominent factor during the day London
bought about 10000 shares
The orders which had accumulated in COM
mission house offices over the double holt
day were also effective at the opening in
helping to rush up prices. The heavy sales
to realize. however. and the yellow fever
sentiment soon put a stop to the upward
movement and the market was depressed for
most OF the balance of the day below Satur-
days close, the decline from the opening
high point exceeding point in many prom
lnent shares. The buying in Northern Pa
cine, New York Central, c., c., G. & ST. Louis
and the grangers brought the market back
to above Saturdays level of prices. stocks
which m ined b. low bling eXceIt onal. Sugar
moved in an erratic maner all day over a
range OF 212 points, showing strength for
the most part The preferred stock rose 2%.
The industrials generally were somewhat neg
lected. Stocks which show sharp losses are
the coalers, except Reading, Flint Pere
Marquette, Great Northern preferred, Min
neapolis st. Louis second preferred, and
others. to fractional extent. Railway bonds
o were less active and easier Northern Pa
Total sales, $3,2OO,O0O Government bonds
strong; new tours y higher.
Total sales of stocks today were CSC, 463
shares including: Atchison pfd, 1860; B. &
o., $3.50; Burlington, 30620 c., c., c. &
St. Louis. 6,SS5 Denver & Rio Grande pfd,
5,7s6; L; & ~ %. 72o: Missouri Pacific, p. SIS;
Missouri, Kansas & Texas pfd $500; New
York Central, $3.50; Northern Pacific 2772U;
Northern Pacific pfd, 72,05O; Northwestern,
400; Reading SO, 425; Rock Island 10 900; St.
Paul, a, 22o; St. Paul & Omaha, 4,43O; south
ern, 800; Union Pacific. APO: Denver &
Gulf, $500; Wabash. 300; Wabash pfd, $1,000;
Wheeling & Lake Erie, 400; Tobacco, 1920;
Bay State Gas, 1920; Chicago Gas, 1920;
Consolidated Gas 4 O6o, G neral Ele tric, $40;
Lead, 300; Pacific Mail, $500; Sugar, 20, 800
Sugar -pfd 6305; Tennessee Coal & Iron,
$500; Western Union. $500; Chicago Great
Western, 9,130.
rne 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
off r.H