The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-06-23
NORTHWEST WAS IT
INTEREST IN THE STOCK MARKET
CENTEREDf ABOUT THE RE
FUNDING PLAN.
UPWARD TREND RADIATED.
WHOLE LIST HELPED OUT BY THE
STRENGTH OFcJVANDERBILT
GROUP.
y DO
BUSINESS COMPARATIVELY LIGHT.
Il u
Capacity of the Market for Sustain
ing Increased Prices Plainly
Shown by Result
UPWARD TREND RADIATED.
COMPARATIVELY LIGHT.

NEW YORK, June 22.-The stock market
today again gave a demonstration of its as
tomshlng capacity for sustaining increases
or prices, with only temporary pauses and
trivial reactions. The maturing plan of the
committee of directors of the Chicago d
Northwestern for refunding the bonds of the
company, SO as to effect saving which may
be applied to the stock, has become the cen
trail object Of interest in the market. The
upward tendency of prices which radiated
from this stock ultimately permeated the
whole market, carrying even the industrial
stocks some of which had sagged during
the morning, to a higher plane. Northwest
extreme rise was 81. Omaha, as being near
est in relation to Northwest, followed its
course with closest sympathy. But the Van
derbilt stocks were all strong in sympathy.
Lake Shore made a new record price, jump
ing 3A to IT'S. The New York, Chicago and
st. Louis stocks, on account of the close re-
lation of traffic interests with Lake Shore,
also showed marked advance. The first pre-
ferred was bid at Il, against 60 bid yesterday.
The common stock gained 11a and the sec
ond preferred 2. Lackawanna gained 312 to
156 on a definite announcement that the reg
ular quarterly dividend will shortly be de-
clared.
striking feature of the markets course
was the comparatively small transactions on
which prices rose The volume of trans
actions, as whole, was not large, and the
dealings were lacking in animation all day.
Sugar and Chicago Gas, which usually oc-
cupy so large a share of attention. and some
other speciatties, were rather heavy and neg
lected all day, though they showed a recov-
ering tendency before the close. South
western railroads were particularly strong.
The announcement of a $500, 900 shipment Of
gold for Thursdays steamer and the prob
ability that more will go did not renew yes
terday's alarm on the subject. Gains of a
point or over were shown by Tobacco, Bur-
Hngton, st. Paul, Omaha, SusQuehanna &
Western preferred, Denver & Rio Grande
preferred Manhattan, Missouri Pacific, Min
nesota Iron, Kansas &. Texas preferred and
Northern Pacific preferred. In the closing
dealings Lake Erie & Western fell a point
Trading in railway mortgages was in con-
siderable volume, and some striking gains
were made in a few issues, including Lee
high & WilkeSbarre 5S, which improved 212
per cent. The general tone of the market
was good, and free purchases were noted Of
the prominent international mortgages for
continental account. The aggregate sales were
81 500, 600.
The total sales of stocks today were $780,
45S shares, including Sugar, 1900; Burling
ton, Is, 200; Chicago Gas, II, 400; New York
Central, $500; Northwest, 14,700; Omaha,
9,1G0; Reading 31,0G0; Rock Island, 1900; ST.
Paul, $500; Western Union, $500.
The following were the fluctuations of the
leading railway and industrial shares fur
nished by G. H. F. Smith & Co., members
New York stock exchange and Chicago board
of trade