The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-09-01
PRICE RANGE OF EIGHT POINTS
COVERED BY THE INDUS
TRIAL STOCK.
RUSH UPWARD BY LEAPS.
A FULL POINT WAS TAKEN AT
TIMES IN A SINGLE
STEP.
ENTIRE MARKET IS IRREGULAR.
Some Stocks Stable on Large Trans
actions and Others Wildly
Erratic-StocIs Firm.

NEW YORK, Aug. 31.-Today's stock mar
ket was characterized by great irregularlty
the prices of many stocks remained remark
ably stable, even on large transactions, While
the price movement of others was wide and
erratic to the last degree and quite indie
pendent of any general influence or harmony
with others. Sugar was the sensational fea-
ture and covered a range of nearly points
during the day. There was no news regard
ing the stock that was not known at the
opening of the market. But the speculative
traders drew some deduction from the facts
already known that led to very excited trad
ing in the stocks. The speculation turned
on the probable benefits to the industry from
the treasury departments Interpretation of
the clause of the tariff bill discriminating
against sugar from countries that pay an ex-
port bounty. The belief that this clause
would be administered so as to insure the
exclusion from competition of Dutch refined
sugars, gave Sugar stock its strength today.
The stocks logged along Gerry comfortably in
the up grade to noon covering about point
in the rise. The price then made a sensa-
tional rush upward by leaps of A@1a and
even full point at time to 1852, the reac-
ton being comparatively small. Just in the
closing transactions, the price bulged again
to 157 and fell back a point. Tobacco also
rose 2% in the final transactions, apparently
in sympathy with Sugar. Sales Of Sugar
reached 10000 shares.
The active shares, which showed a free
price movement, were the exception to the
rule. The decline in the grangers carried
Burlington down nearly a point, but the
net change in the group did not exceed u,
the amount of the gains showed by Rock Is
land Omaha and Chicago Great Western.
The same immobility was manifested in the
internationals, Atchison pfd, Chesapeake &
Ohio, Northern Pacific pfd, Southern Pacific,
Union Pacific and Wabash pfd seeming to be
withheld from moving by some pressure. The
same true of Louisville & Nashville I'M
til late in the day, when the stock moved up
a point, but reacted partly. Some of these
stocks were very largely dealt in but the
transactions failed to affect the price, The
so-called specialtes were favoritees in the
speculation. Pacific Mail gaining over point
Chicago Gas gained nearly as much and the
Cotton Oil stock over points. Colorado Fuel
IA; Consolidated Gas, about 2; Detroit Cas-
2; Laclede Gas, 2%; Metropolitan, point
Starch pfd, the same; New Jersey Central
u; and Oregon Navigation a point. The
Lake Erie & Western stock continued
through an upward course the common gain
ing IL and pfd "a. st. Joe and Grand Is
lands I'd pfd reacted rs. London was quite
a heavy seller. stock sold for that account
being estimated at 25,G00 shares.
In the bond market the sales exceeded
$4,500,00O and were strong generally, especial
~ the Reading As. Government As bid up
IL.
Total sales of stock today were 59S. S79
shares, including: Atchison pfd, 1929 c..
& O., 1850; Burlington, 25,S42; c., c., c. &
st. L., 1925; L. & NJ, %, 4S3; Missouri Pacific
1885; NJ. K. & T., pfd 4,460; N. P. pfd 1865 ;
0. & W., 400; Denver G Rio Grande, IS AS
Reading, 1868; st. Paul, 2S $780, ST. Paul &.
Omaha. $780,. Southern R'y., 7,495; do pfd
7,720; Texas & Pacific SOLO; U. P, 1900;
Wabash
1927; Bay State Gas, 1885; Chicago Gas
9,545; Laclede Gas, 1920; Pacific Mail 1875
Sugar, 1908; T. c. & l., Il, 2S5; Leather, A.
f30; do pfd, 1922; Western Union IA 1910;
Chicago Great Western, 80 49,
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
of trade: