The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-11-12
GAINS WIPED OUT
NEW YORK STOCK LIST UNABLE
TO HOLD THE GROUND
GAINED.
ONLY RESISTANCE EARLY.
DURING THE REST OF
THE DAY.
EARLY.
SELLING QUITE A FACTOR.
a Majority of the Standard
Shares.

NEW YORK, Nov. n.-Stocks proved IN
able to hold the gains of yesterday, and
prices today have declined to an extent
which practically wipes out all of yesterdays
advance, net declines extending to a point or
over in large number of standard active
shares. The decline Of American securities in
London before the opening here caused weak
ness at the outset, and London was quite an
active seller in this market all day. After
quite a strenuous resistance to the decline
just after the opening, the market gave
way and with the exception Of periods Of
dullness and steadiness, the course of prices
was downward during the remainder OF the
day. The London selling was quite a factor
in the decline and the revised estimate of
yesterdays decision concerning the anti
trust law by the appellate division of the
supreme court at Albany was also a de-
pressing influence. Apparently the convic-
ton in Wall street was that the law had
been declared unconstitutional, and a realiza-
ton that the incidental opinion expressed in
the decision rather pointed toward uphold
ing it's validity materially weakened prices.
This weakness was especially manifest in
the coalers and the industrial specialties, and
had something to do with the sharp decline
in Sugar, which at the extreme amounted
to points. Sugar was, moreover, weakened
by special considerations, one of which was
the probability that the control of the Ha-
waiian crop was about to pass to its COM
petitors. There was also some apprehension
as to the final decision Of the government
in the question of countervailing duties on
Dutch refined sugars, a question which is
the subject Of diplomatic negotiations. The
dealings in this stock were large and the
fluctuations in its prices affected the mar
ket by sympathy quite strongly. Consolidated
Gas also suffered one of its characteristic
slumps Of 6h points to 80. Sugar touched a
price today fully point lower than its pre-
vious low point on the present movement,
but it rallied quite strongly a point in the
closing transactions. Peoples Gas. the sue
cessor company to Chicago Gas, was mark
eddy heavy throughout the day and closed
with net decline of nearly 212. The South
westerns were weak, notwithstanding very
favorable showing of earnings for the first
week in November. That for Missouri Pa
cifc showed an increase Of $168,00 over the
corresponding period of last year, and Kan
sas Pacific an increase of nearly $4,000.
Chesapeake G Ohio was the only railroad to
report a decrease for the first week, which
amounted to s14243. The railway list was
weak throughout and net losses of a point
or upward are shown all through the ac-
tive list. The dealings in Sugar were al
most one-fourth of the total.
There was a falling off in activity in the
bend market, and prices declined in the lat
ter part of the day. Total sales, 81, 10000. U.
S. tours registered and the new fours coup.
rose 4 bid, and the new fours registered
u bid.
Total sales of stocks today, 2S7,71O shares,
including: Atchison pfd, 1880; Burlington,
%, 705; l.. G. N, II Jas; Manhattan, 3,010; Mis-
souri, Pacific, 1876; NJ, X. & T. pfd, 300;
N. ]. Central, 1850; Northern Pacific, pfd,
8,4S5; Northwestern, 3,160; Reading, $50; r.
IL, 1920; st. Paul, % 100; Southern pfd,
1885; Union Pacific, $3.50; Tobacco, 1880; Bay
State Gas, 4,495; Peoples Cas- 17,1SO; Sugar,
g. $50; T. C. & l., 5,615; Chicago g. W., $3.50.
The following were the fluctuations Of the
leading railway and industrial shares, fur
Eished by C. H. F. Smith Co., members
New York stock exchange and Chicago board
of trade: