The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-08
TERESTs APPARENT IN THE
STOCK MARKET.
NET CHANGES UNIMP0RTANT.
RISE IN STERLING EXCHANGE
RATES OFFSET BY WASHING
TON ADVICES.
BEAR DRIVE AT THE INDUsTRIALs
Checked General Early Upward
Movement at the End of the
First Hour.

NEW YORK, Jan. THE stock market
today, generally speaking reflected the
efforts Of powerful financial interests
to neutralize the effect Of the re-
duction OF the Delaware & Hudson divi-
dend Manipulation was evident in the high
priced stocks for effect upon the general list.
A tendency toward higher level was APP
parent at the outset, which was Influenced
by foreign buying in this market and the ex-
ecution of orders for commission account.
The expectation eflimprovement in impending
railway traff1csreturns stimulated an inquiry
for the leading railroad stocks. The trad
ers disregarded5 a stronger market for for
eign exchange owing to the more reassuring
Washington adyices regarding the Cuban
question and made decided efforts to ad-
vance prices. Burlington rose a point on
purchases for Boston account, and there
was fair buying of the low-priced shares on
orders, principally from the West. Con-
trolling interests in some of the specialties
contributed support to the upward movement.
The exception to the general trend OF prices
was the anthracite coaler group, which dis
played heaviness. The strength of the ex-
change market was due to large purchases
of bills by prominent lower Wall street in
terests, and the light offerings were subse-
quently supplemented by supplies of recently
boarded exchange. Actual rates rose slightly.
but the advance in posted rates was more
noteworthy. Chesapeake & Ohio was in good
inquiry, advancing to IS on orders for for
eign account induced by the recent more
favorable traffic returns and gossip of the
probable declaration of a small dividend.
The upward movement was checked soon
after the end of the first hour by vigor-
Gus drive at the high-priced industrals and
a renewal of liquidation in the coalers Bust
ness was less active on the decline, but the
pressure was very persistent and eventually
losses were recorded in number of stocks.
Leather preferred fell 2A on rumors of a
probable discouraging annual report and IN
certainty regarding the disposition of the
holdings of the late president of the company.
Consolidated Gas yielded per cent to IA,
and sharp declines occurred in Sugar and To-
bacco. Delaware & Hudson was very strong
at the outset, but eventually dropped 2% per
cent to 110A, rallying later to 112A. New
Jersey Central sagged ~ in sympathy, but
Reading lost only a fraction. The railway
shares were we'll supported and rallied easily,
partly on covering. The closing was steady,
with the net changes unimportant aside from
the Specialt1es.
The bond market was strong and higher
IN most instances. some of the inactive issues
excepted. Chicago Northern Pacific first
trust receipts developed activity and strength
cent to AZ. The sales were s., 559, 600. Govern
ments ruled generally firm on transactions of
1880. State securities were dull, but
shade higher on sales Of $4,000
The total sale of stocks today were 1877 1872
5 81 ares including Sugar $500 Burlington
Ohio; S sSoO; Delaware & Hudson, Il, 800; L. &
Union Pacific. $500; w & L. E., $500.
The following were the fluctuations of the
leading railway and Industrial shares, fur
nished by G. H. F. Smith & Co., members
New York stock exchange and Chicago board