The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-22
\. p. OFF 4 POINT
PRICE OF THE STOCK DEPRESSED
BY FREE SALES TO REAL
ZEE.
MARKET INTENSELY DULL.
MANY OF THE USUALLY ACTIVE
SHARES FAILED TO SHOW
MOVEMENT.
TONE OF MONEY VERY UNSETTLED.
Call Loans Before the Close offered
Down to One Per Cent-Stock
List Lower.

NEW YORK. Dec. N.-Business In secur-
tiles was for the most part intensely dull
today. and prices sagged from inaction. The
most notable movement in the railroad list
was that in Northern Pacific preferred, which
fell away point on large realizing sales, in
duced by the payment Of the dividend OF
per cent, which was taken off the price to-
day. Quotations from London and from the
German bourses where this stock Is spec
ulatiye favorite showed that the realizing
movement was in force there also, and there
foreign account. The statement of earnings
for the second week in December also en-
couraged the sellers with it's increase of less
than $4,000 over the corresponding week
OF last year, as compared with increases of
over 100000 in other recent weeks. The
stock rallied fraction before the close. The
failure Of the directors Of the New York
Central to Increase the dividend above the
quarterly rate of one per cent caused dis
appointment to holders Of that stock. The
statement for the last quarter was also con-
sidered disappointing, the gross earnings
showing only a slight increase over last year
and falling over $780, 600 below those for the
corresponding period Of 1895.
London was a moderate seller in this market
of all the international stocks. The coalers
showed a tendency to react today on trad
ers realizing and New Jersey Central was
at one time ~ below last nights close, but
IL rallied and its final price was only frac-
ttonally below yesterdays close. Sugar and
Manhattan moved in a rather erratic manner
but were weak. Metropolitan on the other
hand was strong on talk Of a compromise
agreement with its principal competitor. The
declaration of a semi-annual dividend of 21a
per cent on the first preferred stocks of ST.
Joseph & Grand Island lifted its price over
points. and aroused a demand for other
securities Of that company.
The tone of the money market continued
unsettled today. Loans were reported dur
Ing the day as high per cent. but just
at the close Of the market there were some
offered down to per cent. and an actual
transaction was reported at that figure. This
sudden weakening of call money had no in
fuence on the prices of stocks, which were
weak and declining at the close. Sterling ex-
change also responded to the stiffness in the
money market with decline of Il actual
rate for demand bills and of 1s in the price
of cables of London and of sixty day bills.
There also was a significant falling off IN the
price of government bonds, the new As and
exceedingly narrow throughout the day and
many usually active stocks did not move at
all.
The bond market showed a large falling
off in activity and prices of the majority Of
the issues dealt In showed losses Total sales,
81 $50, 000.
Total sales of stocks today were 167 500
shares. including: Burlington HIS; L. &
N. 3,02O Manhattan, 10 $50; Metropolitan.
4,632; N. J. Central. 1873; n. P, $40; N. p.
st. Paul. 1920: Chicago G. w. $3.50; Sugar.
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