The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-07-23
WITH THE EXCEPTION OF SUGAR
THERE WAS MOT A WEAK
SPOT.
GRANGER .GRoUP BUOYANT.
VOLUME OF BUSINESS LARGE AND
BROAD HALL5:ALoNG THE
% LINE.
NFAvoRABLE Factors IGNORED.
Free Commission House buying
Patent Factor I'm the Strength
of the Market.

NEW YORK, July 22.-There was not
weak spot In the whole list today, save
net loss OF over point in Sugar. The vol
ume of business was large and broad. Bonds
as well as stocks were strong, and the deal
ing extended to many hitherto moribund Sc
cur1t1es. Decreased exports Of grain and
lower quotations for wheat as we'll as Lon
don arbtrage sales, were ignored, and the
market advanced on pool support. The high
est figures were recorded in many securities
about noon, but an even larger number
scored about their best prices at the close.
Some foreign houses of the opinion that
London is heavily short, and anticipate in
teresting developments at the end of the &C
count next week. Brokers, having little
faith there would be much change in the
stirling exchange market, gave but tempo
rary attention to the predictions that some
$2,0O0,00 in gold would be exported to Paris
on Saturday. The continent has been buying
gold, and with easy money here this country
can spare the gold more readily than any
other.
Extensive commission houses buying today
was a potent factor in the markets strength,
and it remains to be seen whether, now that
the public is taking ho,d of the market, pro-
fessional traders will unload upon it as usual.
London adyices were that il the pres
ent movement in Americans continued the
puDllc WoulQ come III MS puICliaSeis,
but that, although a larger business was being
transacted in Americans today than usual,
it was principally on Continental and Amer
lean account.
Sugar fell 3A to 14O in the initial dealings,
recovered the loss, but was again pressed for
sale, and ended with a less of 13s. The Grang-
ers and Southewesterns were the leaders IN
the days upward movement on large deal
ings. Other stocks conspicuous for their
strength and activity were Lead, Chicago
Gas, General Electric, Louisville & Nash
Vile and the Gould shares. Rock Island
scored a net advance Of 21a points on rumors
of increased earning capacity. Burlington
ON similar influences was bettered to the ex-
tent Of a point and half. Coalers were
neglected because of the trade conditions.
American Spirits, preferred, rose point on
heavy buying by the interests recently ac-
tive in Sugar and St. Paul. The rise In In
dustrials, including a point and quarter
in Cotton Oil common and two In the pre-
ferred, in Starch second preferred were
attributed to an expected increased demand of
their products said to be expected because
of the new tariff. General Electric advanced
IL on unconfrmed reports of an adjustment
of back dividends on the preferred stock
The market generally closed with net ad-
vance of ~. The principal of point or
more, not heretofore enumerated, were U.
s. Express. 8; Brooklyn Union Gas, ~;
Pittsburg, Cincinnati, Chicago & st. Louis
preferred 2; c., c., c. Est L., Detroit Gas,
Erie second preferred, Illinois Central, La
Ciede Gas, Lake Erie Western preferred,
Louisville, Manhattan, Susquehanna & West
ern preferred and Union Pacific.
The bond market continued to reflect
brisk demand for investment and specu:a-
tive account, which included numerous mid
die grade and speculative isaues. Values
moved uninterruptedly upward, and at the
top level indicated gains of per cent or
whereabouts in the leading mortgages. I'm
provements were as a rule more material in
the usually inactive securities. The aggre-
gate sa.es were $2595, 600. Government bonds
displayed an improved tone and were more
active, the sales aggregating $4,000. -..
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: