The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-04
SHARE list SCARED
RAILWAYS, HEADED BY THE VAN
DERBILT STOCKS, LED THE
ADVANCE.
INAUGURATION BOOM ON.
GRANGER GROUP GOT STRENGTH
ON MORE FAVORABLE TRAF-
FIG OUTLOOK.
INDUSTRTALs INCLINED TO LAG.
Ultimately They Were Carried Along
by the Dominant Tendency of
the BuOyant Market.
INAUGURATION BOOM ON
INDUSTRIALS INCLINED TO LAG.

NEW YORK, March 3.-The volume of
dealings in stocks on the exchange today
showed total of nearly 200 900 shares The
grangers and the high-priced investment
stocks, especially the Vanderbilt properties
led in the number of shares dealt in. The
industrial stocks occupied a secondary posi-
ton. The prices of the industrials lacked the
buoyanmy manifest in the railway list
though they were ultimately carried upward
by the dominating tendency of the market.
There was no installing the determined bull
ish tendency of the trading all day. bond
ing transaction Of such magnitude and so
advantageously concluded as that of Lake
Shore, announced yesterday, was bound to
have a marked effect on the values of all
properties allied to it, Lake Shore itself
was comparatively neglected, owing to the
fact that yesterdays news had been prac-
ucally discounted in the dealings. OF the
recognized Vanderbilt properties, the advance
IN New York Central was most marked 1t
was pointed out, as a parallel to refunding
OF Lake Shores bonded debt that New York
Central has outstanding about $40 600 900 on
bonded debt which natures within seven
years, and which bears interest at from 4 to
per cent. The refunding of this at 80
per cent would, of course effect a marked
saving in interest charges. The impetus
given to the Vanderbilt stocks advanced
New York Central 23s; Canada Southern, 17a;
New York st. Louis, rs; c., c.. c. &
st. L., 13s; Lake Shore, p, and New York
Central and st. Louis second preferred g.
The demand for railway stocks thus slim
u!ated showed plainly in the prices of the
hgh-priced investment stocks. some of
which were bid up without securing any
response in offers Of stock Chicago & AL
ton rose 2; Omaha preferred. A; Manitoba,
Z, and st. Paul preferred 2. 1t was the same
class of demand which advanced Pullman
DE and Consolidated Gas 3. The grangers
rejected strength on favorable traffic outlook
The st. Paul decrease in earnings for the
fourth week in February of $162 90S arpar-
entity, was disregarded or satisfactorily ex-
planned as it did nit impede the advances
in the group, though St. Paul itself Jagged
somewhat and fell behind Burlington. The
advances in the group were: Omaha. AZ
10 9I omaha preferred, to 40; North
and st. Paul Is. The advance became most
marked in the last hour. Sugar rose IL
from the low point, and Leather preferred
|. New Jersey Central and Manhattan also
rallied "a and per cent respectively. The
broadening tendency of the market was a
notable feature. and gave color to the hypo-
thesis that an inauguration BOOM was
partly the cause of the days advance in
pr ceS.
The bond market participated in the buoy
ancy which was evident in stocks and al
though the gains were generally less inn
portant purchases were made with consid-
erablc confidence. which embraced an un-
ususlly large variety of Issues The gains
range from fraction to per cent the lat
ter in Fulton elevated firsts. The sales were
&Ol1GOO. Governments rose fractionally on
moderate purchases. The transactions ag-
gregated $50, 600.
The total sales of stocks today were 1872
9949 shares including: Sugar, 24OOO Bur
ington. II, geo; Chicago Gas, $500; L.. &
NJ 1920; Manhattan, 1900; New York Cen
trail $500; Northwest, - 800; Northern Pa
cihc preferred, 300; Omaha, 14300; st. Paul.
1S,6OO New Jersey Central, $780,
The following were the fluctuations of the
leading railway and industrial shares fur
nlshed by c. H. F. Smith & Co., members
New York stock exchange and Chicago board
of trade.