The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-12
NEW YORK STOCKS.

NEW YORK, Dec. 11.-Todays stock mar
ket reflected the tendency of professional
traders to close up contracts at the end of
a week rather than keep them open over
Sunday and also natural reaction towards
higher level after yesterdays relapse in
prices. There was some bear pressure against
prices at the opening, Manhattan being driv-
en- down ~ and Sugar yielding point, after
a small gain. But this lead failed to in
duce any large following and it became ap
parent that yesterdays liquidation had run
its course for the present. The bull con-
tingent was prepared to offer vigorous sup
port to weak spots and large buying or
ders for their account turned the tide. Sugar
was the center of the markets strength, and
the firm resistance Of prices drove the bears
to cover. There was noticeable sluggish
ness of price movement in some of the most
prominent stocks in the market on the rise.
Sugar quite buoyant and rose to within
about points of the highest OF the week,
closing with net gain of IA. Its range for
the day was points. Manhattan showed
good recuperative power and rallied within
a fraction of last nights close. Besides the
technical causes for the rise. the market was
aided by the recurring possibility that
decision may be handed down by the su-
preme court on Monday IN the Nebraska max
imum freight rate case. Wall street traders
in railroad securities maintain an abiding
faith that when this decision does come 1t
will be in favor Of the railroads, and the
fact that Monday is decision day with the
supreme court has made Saturday day OF
timidity with the shorts ever since the de-
cision has been pending with the court in
session Assertions were also given consider
alton that there is a growing possibility
of favorable action by congress on bills to
authorize pooling and against ticket scalping,
and this added to the strength of the rail-
roads Northern Pacific preferred enjoyed the
benefit of the first dividend declared yester
5ev bv the directors since the reorganization
of the company and of the favorable state
Inent of earnings given out at the same time.
The slight recessions from the best OF the
close were probably induced by the bank
statement The large shrinkage in the sur
nIus 10 due not alone to the raising of the
local reserve limit by the heavy increase
in danosits but by an actual decrease in
cash of 81. G12 700. The items OF loans and
dennsifs with the large increase shown are
affected by the further payments on account
Of the Union Pacific sale. There has been
movement of currency to st. Louis and New
orleans during the week which probably &C
counts for the decrease in cash. The price
of the United States new As was bid up 3s
ner cert and Of the old Is registered IS.
Total sales of stocks. l26 $50 shares, in
Guiding: Burlington, 1904; L.: NJ ISo;
Manhattan, 5 746; Missouri PACING, 5,l6S; New
Jersey Central 1870; Northern Pacific. 5256;
Northern Pacific pfd, 10.10O; ST. Paul 5,7n;
Southern Railway 1920; Chicago G. W., 4,7l0;
PeopIe's Gas. 5000; Sugar 1920
THE following were the fluctuations OF the
loading railway and industrial shares fur
rsbnj nv G. H. F. Smith & Co., members
WaY Work stock exchange and Chicago board
o1a