The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-02-17
STRENGTHlNST0cKS
BEAR CONTINGENT UNABLE TO
STEM THE UPWARD COURSE
OF PRICES.
THE FINAL HOUR WAS ACTIVE.
CLOSING QUOTATIONS FIRM AND AT
THE BEST FOR THE
DAY.
BOND MARKET IMPROVED I'm TONE.
Purchases for Investment Account
Continued Feature-Gafns In
the Principal Liens.
BOND MARKET IMPROVED TN TONE.

NEW YORK, Feb. 16-The marked strength
which rallied the market toward the close
yesterday was manifest on the stock ex-
change today, and any efforts that were made
to stem the upward course Of prices proved
unavailing. The bear contingent concentrated
Its efforts on a few of the specialues success
fully for a time, but even the industrials
proved refractory under attempts at manip-
ulation for a decline and rallied, the declines
in each case being more than recovered. The
more pacific outlook in Europe and the sub
sidence Of the alarm over the outbreak in
Crete, as shown by the early reports of con-
fractions on the continental bourses and
in London was, of course the main cause
of the strong tone Of the market. The con-
viction that the great powers are in no dan
ger OF coming in contention over the Greek
occupation of Crete soothed the fears Of for
eign capitalists, and American securities par
ticipated in the gain enjoyed by others in
the London exchange. London also bought in
this market. The general outlook Is also re-
garded as favorable. The January trade
statement, while 1t does not show 80 heavy
a trade balance in our favor as in some re-
cent months, still shows a balance unpre-
cedentedly large for January, and gives no EVIL
dence of the turn of the balance against us
and the consequent outflow of gold looked
for at this time Of year. London buying Of
our stock adds to the strength of the coun-
try's financial position.
The activity impaired to the steel rail trade
by the dissolution Of the pool and lower
prices is also favorable factor. There were
encouraging reports also Of the outlook for
railway traffic in the Northwest, owing to the
increased movement of grain. All these
causes may be said to have contributed to
~ H.
The only notable properties to manifest de-
preston at any time today were Leather
preferred, Chicago Gas, Manhattan, Western
Union and Tobacco. The declines in these,
which were more than recovered were l per
cent each in Leather preferred, Tobacco,
Western Union, Manhattan and Chicago Gas.
These declines were due to special causes,
which were nullified during the day by the
upward tendency. Sugar was buoyant, ap-
parently on account Of the relief at the ter
mination Of the inquiry into its affairs by
the legislative committee, which has passed
to the Rubber company. There were evil
dences Of inside buying in Sugar which, as
usual, enjoyed large proportion Of the at
tention OF the exchange. The stock advanced
2B to 1143s.
The grangers led the general advance In
the railway list gaining an average Of about
point. St. Paul. M. & M, and Lake Shore
gained to ~. The final hour was active,
showing marked improvement In number of
shares and prices were generally the best
of the day.
The bond market displayed an improved
tone and slight gains were recorded in the
principal liens. Purchases for investment &C
count continue to exert a steadying influence
with foreign interests, absorbing all of the
gilt-edge securities offered The sales were
$1,547 900. Government bonds hardened per-
ceptibly on purchases Of $129, O0O The float
ing supply of the issues IS being extensively
drawn upon by local and out-of- town financial
interests.
The total sales of stocks today were 172, TIA
shares, including Tobacco, $500; Sugar 81, 400;
burlington, $500; Chicago Cas- 1900; Man
Island, 32O0 st. Paul, IL, 100; Western Union,
$500; silver certificates, 1900.
The following were Ii > 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: