The Saint Paul globe., 1897-10-16
THE NET CHANGES IN STOCKS CON-
FINED LARGELY TO NARROW
FRACTIONS.
CONTEST OF PROFESSIONALS.
DURING THE MORNING HOUR THE
BEARS WE'RE IN THE AS
CENDANT.
RESISTANCE AT LOWER LEVEL.
Shorts Compelled to Cover Before
the End, and Prices Were Bid
Up Again.

NEW YORK, Oct. 15.-Today's market was
a contest between professional traders, as has
been the case every day this week. The
bears were again successful during the morn
ing, but they encountered resistance at the
lower level and were forced to cover heavily
before the close of the day, SO that prices
were brought back to within fractional limits
either way of last nights close. Chicago
Gas continued to absorb a very large share
of attention and it was in this stock that
the bears suffered keen reverse. They
succeeded in forcing down the prices at one
time 15s, but the inside support for the stock
was very strong, and the advance drove the
bears to cover, the stock closing with a net
gain of "a. Sugar also, which was raided
down 39s during the morning, showed consid
erable resistance, recovering at one time to
within point of last nights close. Tobacco,
which sold ex. div. of 2 per cent, declined
at one time 8 points. These three stocks
were made the object of the bears most
urgent attacks and they worked a sympathetic
decline in the general list which extended
from a fraction to points, the specialties
and the Southwestern Railways stock leading
the decline.
The recovery in Chicago Gas was due to
reports of working agreement with the
new competition threatened. Some favorable
effect was exercised on prices by the post
ponement of the hearing before the supreme
court of the joint traffic case until January
next. Brokers were quite vigorous buyers for
London account, and took about $4,000 shares
of various stocks on balance. This also was
a favorable influence. A hardening tendency
in the exchange market was attributed to
the demand for remittances by tomorroWs S
steamer, but some disappointment was, new
ertheless, felt by dealers in stocks that no
engagement of gold for import was made.
This was partially offset by the sentimental
effect of the actual arrival and deposit in the
assay Office and in the clearing house vault
Of further consignments of gold from Eng
land last week. Money continued easy in
Tone and it is believed that tomorrow's
bank statement will reflect a falling off in
the demand in this center for funds. Aside
from the cases specified and those of Susque
hanna & West preferred and Norfolk West
ern preferred, which lost over a point, net
changes were very narrow.
+ Bonds moved in sympathy with stocks,
and showed weakness throukhout. Total
sales, 81, ,55O, 900. United States bonds were
unchanged.
The total sales of stocks today were 432. $50
shares including: Atchison preferred, 1928;
Chesapeake & Ohio, 475O; Burlington, 24246;
L. & N, 1875: Missouri Pacific 1885; NJ.
X. & T. preferred, $780, N. Y. Central, 7645;
Reading, ITO; R. l., 164OO; St. Paul, 1860;
Union Pacific, q, 722; Manhattan, 1925; South
ern Railway preferred, 6,922; Tobacco, 26325;
Chicago Gas, 73 go Sugar g1G 94'72o; W. U-'
The following were the fluctuations of the
leading railway and industrial shares fur
nished by c. H. F. Smith G. Co., members
New York stock exchange and Chicago board