The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-04-15
MOST OF IT GAS
INTEREST IN THE STOCK MARKET
WAS APPARENT RATHER THAN
REAL.
NET GAINS AT ONE TIME
PRICES FAILED TO HOLD AT THE
HIGH POINT OF THE
SUGAR OFFERED IN LARGE BLOCKS
Heavy Liquidation I'm the Stock n
Depressing Influence on the
Market All Through.

NEW YORK, April 14.-The appearance OF
awakened interest in stocks on the exchange
today was apparent rather than real. Inc
total sales ran up to 230, 600 shares, but Chl-
cago Gas and Sugar absorbed 122, 900 shares OF
these, Chicago Gas being the leader. Burning
ton, st. Paul, New York Central and Reading
were credited with nearly $4,000 more. the
heavy volume of dealings in the spec1altles
was almost wholly professional, and outside
interest in the market was practically nil.
Whatever buoyancy there might have been
latent in the market, after last nights close,
received an effective check in the heavy liqui-
dalton in Sugar and Chicago Gas, which be-
came manifest from the openeing. A further
reduction in some Of the refined product
seemed to dash the hopes Of those who have
been calculating heavy profits on raw
sugars imported in anticipation of the tariff.
Reports were also circulated of the illness of
a leading official of the company. Enormous
blocks of Sugar stock were offered for sale,
one lot numbering $500 shares. The price
went down by jumps under this heavy bonn
bardment What has been counted as inside
support of Chicago Gas was also withdrawn in
the face of the large offerings of a prominent
operator, whose example was followed by
many other holders. A feeling Of skepticism
became current regarding recent reports of
the certainty of favorable legislative action
in Illinois.
There was a period of recovery during the
day, but the decline again set in on the
ported intention of legislative committee at
Springfield TO report in favor of limiting by
law the charge for gas in Chicago to Coo.
The heaviness in these securities affected the
whole market more or less, though many
railways held firm. Reading continued to be
something of drag on the market, but sup
IN he no
curities Of this country The shares of iron
ore companies reflected the unsettled condi-
ton existing in this industry. Short selling
was also in evidence to assist the decline.
This tendency received a decided check at one
period. Tone was impaired to the cOalers by
the support of Reading, the strength in Lee
high Valley, in the Philadelphia market and
the apparent check to the proposed legislative
investigation of Lehigh & Wilkesbarre in
Pennsylvania. The ong-hera,ded announce
ment, officially promulgated of a contract
for the sale of $100 600 Of 3t2 per cent 100
year gold bonds by the New York Central and
of 81, 600 600 of the same class of bonds for
the New York Harlem had a stimulating
effect on the whole market. Prices went to
the highest Of the day on the rally and quite
generally showed net gains over last nights
closing. But prices failed to hold. There was
some natural reaction in view or the fact that
the New York Central refunding plan, with
its saving of fixed charges, had long been dis
counted. The net result of the irregular nuc-
tuations in Chicago Gas and Sugar was loss
of "a in the former and in the latter The
notable gains on the rally were: Burlington
l; Delaware & Hudson and New Jersey Cen
trail, IA Manhattan /; New York Central, r.
and Omaha Is. The final reaction caused
losses as follows: Burlington, Is Delaware &
Hudson, /; New Jersey Central, rs, and
Omaha, rs. Minnesota Iron suffered net
loss of points.
Firmness characterized the bond specula-
tion which was rather quiet. The sales ag-
gregated only SIT, 900. Governments ruled
firm and a shade higher on purchases Of
$12, 900.
The total sales of stock today were 23O. 247
shares, including: Sugar $500; Burlington,
14,40O; Chicago Gas, sc 200; Delaware & Hud-
son, $500; Manhattan, AGO. New York Cen
trail. 400; Omaha, 4,SOO; Reading. 10 ECO;
Rock Island, $500; St. Paul, IL, 800; Tennessee
Coal & Iron, 1890; New Jersey Central 1890.
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: