The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-09-14
BUYING BY LONDON
ABOUT THE ONLY SUPPORT FOR
STOCKS CAME FROM FOREIGN
SOURCES.
HEAVY HOLDINGS DUMPED.
NET LOSSES FOR THE ACTIVE LIST
ABOUT AN AVERAGE
POINT.
EFFORT TO CHECK THE DECLINE.
Omaha and Northwestern Doomed
by the Bulls and Scored Sub
stantiaI Gains-BOnds Weak.

NEW YORK, Sept 13.-The most interest
ing fact connected with today's stock mar
ket was that the principal support accorded
the market was through buying orders cabled
from London. The buying by commission
houses here was good, but aside from that
the local operators sold heavily, not only here,
but in London. The check in the decline
here was credited to London buying and the
London favorites displayed the greatest stead
mess until too late for London dealings. AL
together, London bought $4,000 shares. The
stocks most largely bought by London were
st. Paul, Kansas G Texas preferred, Union
Pacific and Southern preferred. If it had not
been for the upward tendency of prices at
the opening, in sympathy with the London
quotations. 1t is probable that net declines
would be much greater than they are Thus
the extreme decline in Burlington was
points, in Missouri Pacific, 21s; in st. Paul,
Rock Island and Northern Pacific preferred,
rs; Manhattan, 25s; Mobile & Ohio, 21s, and
in large number of shares over point.
The rise at the opening and partial recov-
cry at the close makes the net losses less
than this, but the average in the active stocks
is little less than point.
The good influence of the extra dividend
last week on st. Paul was the cause OF the
London buying. The New York selling was
attributed to yellow fever and to an appre-
hension that the Cuban question would again
assume an acute phase at the cabinet meet
ing tomorrow. 1t was somewhat notable, how
ever, that Louisville, which has shown most
sensitiveness to yellow fever reports, closed
with a small gain That some enormous
speculative holdings were in course OF liquid
alton today was obvious and there is little
ground to doubt that the owners were inn
pelled to take profits by a conviction that
prices have fully attained a level common
surate with developments affecting the value
and the earning power of the properties. The
decline was encouraged as much as possible
by the bears and the effect of fierce raids was
evident in number of prominent stocks. Ihe
bulls made an effort to check the decline
by pushing Omaha, Kansas & Texas pre-
ferred and Northwestern but were only par
TALLY successful. Omaha was lifted "a Kan
sas & Texas preferred the same amount and
Northwestern IL. All three reacted sharply,
but were left with substantial gains.
Quite firm tone was evident in the coal
ers and the group closed fractionally higher
Tennessee Coal and Minnesota Iron were
markedly heavy. Illinois Steel and Colorado
Coal made sharp gains. The industrials gen
orally shared in the weakness of the mar
ket Lead leading the decline with a loss of
points Features of the day were fall
of &c in the actual rate of sterling exchange
and a hardening of the rate for call loans
to per cent, with exceptions at 212 per cent.
Silver scored a further sharp recovery of 112c
! in New York and 5sd in London.
Speculative mortgages scored sharp de-
| cines but high priced bonds held firm Total
sales, So, 500 900. United States fours declined
Il in the bid price.
The total sales of stocks today were 5S7 81
shares, including, Atchison 5,455: Atehison
pfd. 1856; Canada Southern, $3.50; Chesa-
| peake & Ohio, 14,250; Burlington. 26,90O; c.,
I &C.. & ST L., 1000; L. & NJ, is 72O; Man
| haitian, 10 ,925; Missouri Kansas & Texas,
$500; Missouri Kansas & Texas pfd, e. 500;
| Northern Pacific $40; Northern Pacific pfd,
21,OOO; Northwestern, 80; Reading, 1S,l2O;
| G Omaha y 200; Southern Railway, 5000;
! Southern Railway pfd, 1850; Wheeling Lake
Erie. 5000; Tobacco 1850; Bay State Gas,
300; Chicago Gas, 1925; Sugar, II zoo; Ten
/ nessee Coal G Iron, 400: Leather pfd, 3. 125;
Western Union 1920; Chicago Great West
/ ern, 1880.
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