The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-15
SHARP NET GAINS
SHOWN BY STOCKS IN COMPARISON
WITH THE PREVIOUS DAYS
CLOSE.
TRADING ALL PROFESSIONAL,
BUT WITH FEW EXCEPTIONS THE
GENERAL LIST WAS STRONG
THROUGHOUT.
BEARS FORCED TO GO TO COVER
Higher London Prices and an In
creasing Investment Demand
Weapons Used by Bulls.

NEW YORK, Jan. 14.-The stock market
today was for the most part extremely mar
row and professional, but, with one or two
exceptions, the tone was firm and the
movement Of prices upward. There was lit
tie news of general Importance, but the
traders appeared to favor the long side.
Higher London prices for American secur-
tiles and buying for that account here and
the enlarging investment inquiry, induced by
the steady piling up Of idle money was
partly instrumental in causing the bulls,
to force covering by the shorts in number
of the specialties. In some stocks of this
class, also, there was continued liquida-
ton, but the declines were confined to the
particular properties involved. Dealings in
the railway shares were on a trifling scale
and aside from Manhattan, Wheeling & Lake
Erie and Long Island, the fluctuations were
fractional. The first named rose ~ per
cent on covering. In Wheeling & Lake Erie,
however, continued weakness was displayed,
the common declined 1 and the preferred
8 per cent Long Island was sold down PA
per cent to 601a, on seller 20 options but
the bonds exhibited increased strength, the
Is rising 1h per cent. Chicago Gas ad-
vanced rs per cent to Tx on what was con-
sldered inside buying, partly in anticipation
of the impending dividend and also on a
reported belief that all obstacles to the ANAL
soon be removed. Sugar, on covering, pure
and simple, gained 2 per cent to 1895. The
reports in circulation regarding the negotla-
lions for settlement between the Atchison
and Atlantic & Pacific companies galvanized
the stock and the bonds of the last mentioned
line into comparative activity at the tri1ing
gains. In the last hour the general market
was more spirited than at any time in the
day. The closing was strong at the top
level, with comparative figures showing sharp
fractional net gains.
The bond market continued to advance on
increased and we'll distributed dealings. The
inquiry for gilt-edged issues is very good
with the offerings light. The sales were
81, 696 900. The main advances were: New
England rs, 312 per cent; Milwaukee & North
ern first consols of 1918, per cent; North
west Sinking Fund 6s, IL; Chicago & North
ern Pacific list trust receipts and st. Paul,
G. & M IS, IA Southwest division IS and
Southwest general As series A, l Northern
Pacific 3ds 1. Declines: Kings County Eie-
waited lists, per cent and Union Pacific Sink
ing Fund IS, 21s per cent. Governments
lacked feature, but were generally firm on
transactions Of $12, 600 State issues were dull
but slightly higher on purchases of SIC, 600.
The total sales of stocks today were 1O3 78O
shares, including: Tobacco, $500; Sugar,
IS, 100; Burlington, $500; Chicago Gas, 10 100;
st. Paul, 1900; Tennessee Coal & Iron, $500;
w. & L. E., II, 300.
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: