The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-09-10

ST. PAUL. ABOVE PAR
THE MARK TOUCHED FOR THE
FIRST TIME IN FOURTEEN
YEARS. fiss;,>-
-
CHANGERS ALL ADVANCED.
RALLY HELPED BY REPORTS OF A
HEAVY RAILWAY TRAFFIC
WEST.
HEAVY REALIZING IN MORNING.
Stock Market Given a Good Start by
Higher Quotations on the FOr-
eign Exchanges.
HEAVY REALIZING IN MORNING.

NEW YORK, Sept. 9.-The market respond
ed to higher quotations in London, with a
fractional rise at the opening, as it respond
ed yesterday with decline. The advance in
Illinois Central extended to Us, and in South
ern preferred point. and the latter stock
held remarkably firm all day, in the face Of
heavy liquidation all through the market
Illinois Central rather unaccountably declined
nearly two points, in view of the brilliant
achievement in earnings disclosed by the Au-
gust statement reporting an increase over
last year Of SSH 22S. The detailed statement
for July showed that the increase in the net
earnings fell Just short of $150, 900. The stock
rallied later and closed with net gain. The
market sank quite weakly under the heavy
realizing movement in the morning. London
buying invited realizing sales, and it is likely
that the failure of large outside brokerage
house had something to do with the heavi-
ness on account of the liquidation entaied
upon agents upon the floor. The decline ex-
tened to 15s in st. Paul, rs in Northern Pa
cif1c preferred, and an average of a point
in a large number of leading shares The
assembling of the St. Paul directors, with
a quorum present, was the effective infu-
ence in checking the decline account of
the prevalent belief that an extra dividend
would be declared When it became known
that the decision of the directors was in
favor of making the extra dividend L per
cent, the stock mounted upwards strongly
to par, which it touched for the first time
in fourteen years. The price reacted frac-
ton then as though the maximum had been
reached, but renewed impetus was i'm
parted By the enormous buying of all that
was offered, and the price was lifted to 101,
and held there till the close. Sales of st.
Paul were over 139 eco shares.
This lively advance affected the other
grangers by sympathy, and resulted in an i'm
proved tone ali through the LIST. TIE re-
newed strength in the grain markets the
reports of heavy traffic on railroads and tie
improvements in earnings, helped the rally.
Oregon Navigation showed an increase of
$2z3, 906 for August. Rock Island, Atchison
preferred, Mssou. Pacific L. & N. and
Northern Pacific rra-erroj all scored nota-
BILE rccoyer;as. II the spccialties, General
Lead gained 21s. Manhattan advanced at
one time nearly two Joints, but closed with
net gain CT point TIE coalers were
Esavy, the decline extending to a point in
Delaware & Hud.or. TIE prospect of a set
t!cment CT the coal strike caused some
nc cement in Sticks Of soft coai roads. Chi
cago Gas was in good demand and gained
over a point. Other notable gains were Chi
cago & Alton. /; Consolidated CAST; Starch
first preferred, A. and Oregon Navigation, 2A.
Dealings in bonds asa.n oentered in the
Atchison issues, Central OF Georgia first in
comes advanced AS. Tai sales, So, 700. GO
United States cid Is coupons advanced 4
Fer cent bid:
Totals sales of stocks today were GC5,G90
including: Atal ;scn, 9 225; 90 preferred, 20,
225; Canada pac fc, 1850; Burlington, 29,-
375; c. c., C. & st. Louis, $3.50; Erie new,
3 635; Illinois Gel trail, $3.50; l.. d N, Is, 49,;
Manhattan, Il, go; Missouri Pacific, 1G1S9; NJ.
X. & 7. Pfd, SEQ; New York Central 6Gi5;
Northern Pacific r.d, 17,GoS; Ontario & West
ern. 3.1iO; reaeing, 1925; r. l.. .72S; St.
Paul, 139. 725; Southern, 5435 do ptd, 22,32O;
Union Pac fc, 1860; Union Pac fic, Denver
& Gulf 3 SO; Wabash pfd, 100; Wheeling
& Lake Erie loooo: Tobacco, 20. l96; Bay
Sta.e Gas, 24020: Chicago Gas 1,525; Cen
elai Electric. 6 $50; Laclede Gas $500: Lead,
13 100; Pacific Mail APO; Sugar, 11,12I;
Tennessee Coal & Iron 1880; Western Union,
8, 22O; Chicago Great Western, 6,0l0
The fol owing were the fluctuations of the
leading railway and industrial shares fur
nizhed by c. Il. +. Smith & Co.. members
New York stock exchange and Chicago board
OF trade: