The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-02-27
FINAL HOUR BRACE
SOME REAL ACTIVITY INJECTED
INTO THE NEW YORK STOCK
MARKET.
SHORTS DRIVEN TO COVER.
PRICES WENT UP WITH A RUSH
ALONG THE WHOLE
LINE.
A FLOOD OF BUILISH SENTIMENT
Let Loose by the Passing of the
Cuban Crisis and Peace Pros
poets In Europe.
A FLOOD OF BUILIsH SENTIMENT

NEW YORK, Feb. 26.-In the last hour and
a half of trading the stock exchange threw off
the lethargy that has been its characteristic
for many days past and awakened to lively
activity, in which the volume of trading was
large and prices advanced sharply throughout
the list. The practical abandonment by the
United States Of its peremptory resolution
demanding the immediate release Of Sanguilly
was the main stimulating cause of the &C
tivity in the market The announcement that
King George Of Greece had ntimated his in
tention to conform to the demands of the
powers with regard to Crete was also con-
tributory cause. The relief afforded to the
market by the removal Of these impending
shadows on values seemed to let loose
flood Of bullish sentiment which has been
latent in the minds Of traders for some time
past. The shorts were driven to cover, and
prices went up with a rush quite large
transactions along the whole line.
The market opened with tendency toward
higher prices reflected from the London mar
ket and on the published news of Sanguillys
pardon. Prices continued firm all day, but
there was very languid interest in the mar
ket, transactions being restricted, apparently,
to await the course Of the senate on the Gu
ban question. Arbitrage houses sold a few
shares Of St. Paul and Louisville & Nashville
because of the higher range prevailing in this
market but without effect on the general list,
or, indeed, on the prices of those particular
stocks Afternoon buying was noted from
Washington and the announcement of the
news, soon afterwards, that the Sanguilly
resolution would not be pushed brought on
the active buying movement. The trading
was marked by a strong and confident tone,
due to the encouragement felt over the i'm
provement in railway earnings for the third
| week in February, and over the general out
look for business The Improvement in rail-
way earnings for the third week seems TO
extend to all parts OF the country and to
every group of properties.
Although todays Improvement general
throughout the list, the industrials, as usual
absorbed the majority of attention and
joyed the largest advances. Sugar rose 27s,
Leather preferred 2s and Tobacco l. Con-
solidated Gas was conspicuous for rise OF
31a points on a conviction that legislation
harmful to the value of the property was I'M
likely to be enacted at Albany. The railway
share list enjoyed it's proportion of the ad-
vance, the grangers averaging point to Il
point and a half, Burlington getting 115, St.
Paul 1h, St. Paul & Omaha /, and Rock
Island l. Commission house buying was
quite a notable feature during the rise in
the afternoon, indicating some awakening Of
outside interest in the market. Hooking Val
| ley stock 1uctuated within a narrow limit
on surmises regarding the form of the plan
Of the reorganization.
The bond market responded steadily to the
| favorable influence affecting the stock specu-
lation, but the gains usually were less pro-
nounced and confined to the better grade is
! sues. The foreigners took moderate amounts
| OF the speculative liens in which more ac-
tivity developed than for some little time.
| The Hooking Valley mortgages fiuctuated not
| ably, the fves advancing to 72A and receding
| to H. and the IS rising Az to go and reactng
to S. The sales were s1,67s, 900. Government
bonds were in moderate request and stiffened
slightly on purchases Of $117O00
The total sales of stock today were ISL ,703
shares, including: Tobacco, 6,1O0; Sugar, 81
I 700; Burlington & Quincy, II, 400; Consolidated
Gas, 300; Chicago Gas, $500; L. & NJ, $780,
Northern Pacific preferred, 800; St. Paul
| 1920.
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.