The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-01
AND BURLINGTON
STATEMENTS FACTORS IN THE
STOCK MARKET.
SUGAR AGAIN VERY ACTIVE.
NET GAINS IN GENERAL FRAC-
TIONS, WITH A FEW SCAT
TERED LOSSES.
A SHARP BULGE IN BAR SILVER.
Price the Highest Which Has Been
Touched Since Last July-BOnd
Market Firm.

NEW YORK, Nov. 30.-The principal fac
tors In today's stock market were the state
ments Of October earnings Of two great rail-
way systems of the country, namely the
Pennsylvania and the Burlington. Both state
ments made a remarkably strong showing,
but that of the Burlington had been discount
ed on rumors which have grossly exaggerated
the proportions of the increase. As conse-
quence there was some disappointment in
speculative circles over the Burlington state
ment and some proft-taking which impaired
heavy tone to sthe whole Of the granger
group until late in the day. In the final hour
prices of the group shared in the strength
of the general market Rock Island leading
with net advance of IA on reports that
the company's refunding scheme had been
perfected and the sale Of the first block OF
new per cent bonds concluded. The Oc-
tober statement Of the Pennsylvania system
with its increase in gross earnings OF SSOO,OOO
and IN net Of $433, 900, was regarded as
strongly favorable and as rejecting large
general improvement in business. The stock
Of the Pennsylvania road rose 2$ under Its
influence and all OF the trunk lines showed
marked degree Of strength. New York Cen
trail, Lake Shore and Canada Southern rising
from to 2 points. Although the Burlington
statement was compared with very strong
month last year and with one less business
day in the month than last year and al
though both the gross and net earnings fell
slightly below those of September Of this
year, the falling off from the record month of
September was small There was very
marked increase in the operating expenses
both of the Burlington and the Pennsylvania,
amounting to SAC, $50 in the cage OF the
former and $281, 600 in the case o. - latter,
rejecting the arrearages Of outlay-for main
tenance which exist generally in railroad
property all over the country. The Erie and
Lehigh Valley also had very favorable state
ments for October, but in both cases heavy
increases in operating expenses absorbed
large proportion Of the increase in gross
earnings.
Speculation in Sugar was again very active
all day and the stock rose strongly, closing
2h higher than last night. The approach Of
the regular dividend period and expectation
of favorable decision by the treasury de-
partment on the question OF countervailing
duties on imported Dutch sugars. were the
causes of the rise.
Northwest and Omaha show net gains equal
ling point. Consolidated Gas Is IL higher
on the day. Jersey Central gained IL. Other
wise net gains in the active stocks are con-
fined to fractions and there is fair sprink-
ling of small losses throughout the list. Sales
of silver certificates on the exchange for
u,OO ounces at from 6sAc to 594c were
feature of the day. Bar silver sold In this
market at 59kc. a price which has not been
equalled before since July %. Bullion dealers
have no other explanation to offer for the
strength Of silver than the existence of active
demand and limited supply
The bond market showed some activity and
strength in high grade issues, being very
firmly held: Total sales. 81, 6S5. 900. United
States old As reg advanced 4 bid.
Total sales of stocks today were 219,1O0
shares, including: Burlington, 1897; Louis
vile & Nashville, $3.50; Manhattan. 1880;
New Jersey Central. 1901; Missouri Pacific,
6,S4O; New York Central $40; Rock Island,
IL, 145; Denver I'd pfd., 1925; st. Paul, 1852;
Peoples Gas, 1895; Sugar. 6,225.
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: