The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-02-06
SHADOW ON STOCKS
TRADERS WORRIED BY THE LEX
OW INVESTIGATION AIMED
AT THE TRUSTS.
SUGAR BORE THE BRUNT.
INTEREST IN THE MARKET CON-
FINED LARGELY TO THE IN
DUSTRIAL GROUP.
PRICE TREND WAS DOWNWARD
Until the Closing Hour, When There
Was a Rally, With Almost
Complete Recovery.


NEW YORK, Feb. 5.-The Lexow com
mittee of the New York legislature to investi-
gate trusts was the shadow upon the market
In the dealings today. The trading was
for the most part in the Industrial stocks with
sugar occupying the overwhelming proper
ton OF attention. With the market thus re-
stricted, the effect on prices was in sympathy
with the course Of Sugar and the other in
dustrials, which was markedly downward,
with rally at the close due to covering by
shorts. The days proceedings in stocks gave
little evidence of much Of any but profess
slonal dealings, though the bond market
showed evidence of a we'll maintained strength
and an investment movement Sugar and
the industrials, while affected in common
by the apprehension of the trust investigation
and other antitrust influences, were each af-
1ected by some special causes which In
nuenced the decline In the case Of Sugar
Inere were the prospective coup in the coffee
war indicated by the incorporation of a new
company by the sugar interests the continued
1ear OF the coming tariff changes, the adop-
tlon OF new French bounty and the general
guinness In the trade. The extreme decline
under these conditions was NC, with the
fract1on eventually recovered. After the
uechne IN Sugar had been affected, attention
was turned to Leather preferred, which was
looacco was next attacked and declined Ia
American Spirits did not escape the effect
OF the general decline in the Industrial stocks
and receded y per cent for the common and
one point for the preferred stock, the de-
cline being augmented by trade conditions and
the prospects of reduced prices for the prod
uct. This wholesale onslaught on the in
dustrials had its effect on the railway shares
ana they declined in sympathy. Burlington
sold of q and the general railway list
also responded fractionally. London selling
had its effect in this department, the market
there having been stirred by alarmist rumors
regarding the health Of the car and the
South African situation.
There were periods of declines after the first
hour of trading, probably devoted to waiting
for developments in the trust investigation
and during which the changes were very
narrow. The dealings in the low-priced
portance, but the fluctuations were small
In the final hour, however, there was a re-
Vival In the market and prices generally ad-
vanced under covering movement by the
shorts. The anthracite coal groups showed
an improvement under this movement of IL
per cent. Northern Pacific preferred advanced
1 per cent In this rally the closing prices
generally were carried to about the best
point of the day.
The bond market maintained decided
strength, and although the movement was ir-
izing, the main tendency was toward higher
basis. The excellent progress noted in the
naDlltauon OF various properties has insti-
tuted a keen demand for some of the low
grade issues, which attained the highest prices
current for long time. The sales were So
724,O0O. Government bonds were made under
pressure and yielded fractionally on sales of
$95, 600. State bonds were strong The
dealings aggregated $120
The total sales of stocks today were ia SIS
shares, including: Tobacco, AGO; Sugar. 65 COO:
Chicago Gas. 1900; Northern Pacific pfd, $500
st. Paul, 10000.
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
Of trade: