The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-09
TOBACCO WAS FIRM
SHARP RALLY IN THE STOCK THE
NOTABLE FEATURE OF THE
MARKET.
GENERAL LIST DEPRESSED.
THE SPECIAL WEAKNESS SHOWN
BY MANHATTAN INDUCED THE
DECLINING MOVEMENT.
LATE RECOVERY ALMOST ENTIRE.
Closing Sentiment Strong With
Sharp Net Gains in the Shares
of the Railway Group.

NEW YORK, March S-The most notable
feature of today's market was the sudden
activity in the shares of the Tobacco COM
pany in the last hour of trading. The stock
had been Influenced by the depression ex-
listing in other shares after the opening and
had fallen point. But about delivery hour
a heavy buying movement developed for the
stock and it quickly regained the loss and
more, rising 27s points to IT'S. The fraction
was lost in reaction, leaving the net gain
on the day, "a. The buying seemed to be
for inside interests, and was attributed to
various causes. There was a report that the
New Jersey suit to annul the charter of the
company had been decided in the companys
favor. rumor originating in Albany was
also in circulation that the forthcoming re-
port of the legislative trust investigating
committee would not contain anything that
would threaten harm to the company. There
was some 27,COO shares dealt in which was
almost twice the number Of any other one
stock
The general conditions all seemed favorable
for buoyant market throughout The tone
impaired to the opening by the London mar
ket was distinctively favorable Americans
being higher there. L. & NJ, which has
been notably depressed recently in sympathy
with the London market. gained rs. New
York Central continued its strong showing
on the statement of February gross earnings
Omaha also was up rs. There was, how
ever, a cessation of the special activity in
the Vanderbilt shares, which marked the
dealings of last week The grangers showed
strength and good power compared with the
late depression in the market being aided
by good commission house buying and by the
report of an increase in the east-bound
freight tonnage.
The depression was brought about by the
special weakness shown by Manhattan
Much doubt was felt as to the action to be
taken by the directors at their meeting to-
morrow on the dividend rate, which some
interests fear is to be reduced. The price
dropped rs to S41a and rallied only feebly.
New Jersey Central was also largely sold on
the recent published statements of the earn
1ngs OF its subsidiary coal company. The
price fell off per cent. Sugar also mani
tested signs of depression due to doubts as
to the amount Of protection which would be
accorded to refined sugar under the new
tariff. New Jersey Central rallied in the
afternoon IL, carrying with it other coalers
The buying of Tobacco shares impaired
strength to the whole market, so that the
c.oSe was strong and sharp; gains were
shown i'll the railway shares.
Dul-ness was the chief characteristics Of
the Dcnd market, but frmnesS was generally
apparent on narrow fluctuations. Govern
ments were neglected, but generally firm.
Silver certificates were dealt in at slight con-
cessions.
The total sales of stocks today were 143. 764
shares, including the following: Tobacco,
n 400; burlington & Quincy. IA SEQ: Chicago
Gas, $500; Manhattan. a.. 72S; st. Paul, 49,
600; New Jersey Central Il, 200 silver certif-
Gates, 9000. --. -.-...-.- .r 49, -.
The following were The fluctuations Of the
leading railway and industrial shares, fur
nished by C. H. F. Smith C Co., members
New York stock exchange and Chicago board
of trade