The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-04
PRICES PUSHED UP
POWERFUL IMPETUS GIVEN NEW
YORK STOCKS TOWARD A
HIGHER LEVEL
GENERAL PUBLIC BUYERS.
EFFORTS OF PROFESSIONAL OPER-
ATORS TT CHECK THE AID
VANCE IN VAIN.
INDUSTRIAL SHARES ALL BUoYANT
Exchange Situation Much Cleared
With the Prospects in Favor
of Early Gold Imports.

NEW YORK, Aug. 3.-The market for Sc
curit:es received a further powerful impetus
towards a higher leyel today. Buying was
animated and in la q volume in all depart
ments, not only OF 0.e stock market, but of
the bond market as well. The confidence of
the general public in the revival of business
and the improvement of values to result was
plainly manifested in the large commission
house orders executed on the floor of the
exchange, those being in such numbers and
of such importance as to all at
tempts of the professional operators to check
the advance, OF attempts to manipulate the
market for a reaction. All the news was
such as to push on the enhancement of
prices. Reports of crop prospects continued
most encouraging from all quarters, and the
continued rise of prices in the grain markets
reflected the confidence of buyers that good
prices were to be realized for the crops. The
returns of railroad traffic from the West and
Southwest showed the grain movement to be
in such volume as to leave the amount of
business to be done by the railroads only a
question of the number Of cars they can Sc
cure to transport the grain offered. The
westward movement of merchandise is also
reported to be large for the season, so that
the trains carried westward, as well as those
coming eastward are producing revenue for
the railroads. The buoyancy of the industrial
stocks was the result of the bright outlook
for the trade in the particular staples in
which these great corporations deal. The
gas companies especially were benefited,
Consolidated Gas leading with a net gain of
5R points. The exchange situation was also
much cleared, the quotations for actual bust
ness in sterling exchange breaking to 81. 81
for sight bills, and to $4. S5A for sixty days.
The declining tendency IS due to the free
offering of grain bills, which are likely to
increase from this time on. In view of this
fact further exports of gold are exceedingly
unlikely to occur, and the annual refux of
the yellow metal will probably bcg:n at no
distant day.
Trading in railroad mortgages was in large
volume, with substantial variations in many
issues. The low priced securities were eager
ly sought for by domestic and foreign pur-
chasers. The general tone was strong, with
specific influences operating to enhance val
ues of some liens. notably improvement con-
rise of 5A per cent to 80, with a later re-
action to %.
The total sales of stocks today were 475. 425
shares, including Atch:son, 6,O35; Atch:son
pfd, 8 939; c.. & o., 10, 44O; c., B. & O., "a, 100;
G: C.. G: & st. l., 500; L. & n. 10 SIS;
Albany & Chicago 3 S75; do pfd. II, $40; N. Y,
S. & W.. pfd, BIOS; N. Y. Central, 8 600; N. P,
LIS; do pfd, 26 80; Northwestern, S55
Reading, 7,100; Rock Island, 19. 100; ST. Paul,
"A 592; st. Paul & Omaha. 1906; Southern
Railway, 10, SOC; Union Pacific, 5155;. U. P,
"A Cos; do pfd. 3,o1S; Tobacco, 3,750; Chicago
Gas. 0,440; Consolidated Gas, 4.765; General
Electric, S,G45; Lead, 1850; Sugar, q, 912;
Tenn. c. & l.. 7.105; Leather pfd, 500; West
ern Union. 1850; Chicago Great Western,
II. 2o2.
The following were tie 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: