The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-10-19
THE BEARS TO DEPRESS
STOCKS.
ACTIVE SHARES ALL HIGHER
NET GAINS FOR THE GENERAL
LIST FROM ONE TO TWO
POINTS.
INDUsTRIALs, EXCEPT SUGAR, DULL
The Money Market Easy, Which
was an Incentive to a Renewal
of Speculation.

NEW YORK, Oct 1S.-For the first time
IN several weeks prices of stocks were at
no time during the day below the level OF
those prevailing at the c.ose the night be-
lore. There were occasional slight reactions
To-Day with no better apparent cause than
sympathy with sugar, which was itself mar
kedly strong and was turned backward at
times only by profit-taking. Speculation
matted during the morning in expectation of
decision by the supreme court at Wash
1ngton In the Nebraska max mum freight
case. Although this decision is expected to
be IN favor of the railroads and was looked
TO to give an upward impetus to prices the
announcement that the handing down of the
decision had been postponed was followed by
a decided increase in the activity of trading,
an activity attending a rise of prices, instead
OF decline for the first time in many weeks.
The strength of the Granger stocks and the
awakened interest and Improvement in the
Vanderbilts were very notable The vigorous
upward movement of this powerfully influen-
t1al group caused striking advance through
out the list, net gains in nearly all the ac-
tive stocks equalling at least a point and in
several special cases equalling or exceeding
two points.
A feature of the market quite as striking
as the strength of the railroad stocks was
the neglect of the Industrials except Sugar,
as compared with the recent trading, and
even Sugar showed a falling off in activity
as the day progressed and the trading in the
railroad stocks developed greater animation
Chicago Cas- which of late has entirely over
shadowed the rest of the market, today fell
into innocuous desuetude and was no longer
available as an instrument for the bears to
demoralize prices in the general list. It's
tnfo 1 41f
ton and the small volume of transactions in
it looked almost like neglect. While Sugar
was quite active and moved somewhat If
regularly, within range of nearly three
points, it showed sufficient strength to aid
the rest of the list by sympathy and closed
at net gain of csc.
The money market was noticeably easy,
which was an additional incentive to a re-
newal of speculation. Outside banks also
continue bidders in this market for mercan-
tile paper and are thus releasing considerable
sums of money to the New York banks which
are available for loans in other departments.
The statements of railroad earnings for the
second week in October, which were received,
all showed continued marked increases over
the corresponding period of last year, the
soft coal roads showing an especially notice.
ably recovery from their recent heavy de-
preston. Ihe september statement OF the
Pittsburg, Cincinnati, Chicago & st. Louis
caused sharp advances in the stocks of that
company, the preferred stock rising 21a
points. Pullman advanced 3a4c and Susque-
hanna Western pfd PIC. While the chaIac-
ter of the trading today did not go outside
the professional limits which have marked
it for several weeks, the undertone Of strength
of the market showed the. practical cessation
of the manipulation by the reactionists Sugar
was the only stock the list to show
transactions exceeding 10000 shares, and the
total sales of all stocks feH considerably be-
low 100000 shares.
The bond market not very active. but
prices were generally firm. Total sales, ST.
100000.
Total sales of stock today were 225, 900
shares, including the following: Atch son
pfd, 1888; Burlington, 1888; L. & N. 6 $40;
Missouri Pacific, 1920; New York Central,
$50; Northern Pacific pfd, 1854; Reading,
31O6 R. l., 1880; st. Paul, 16,440; Union
Pacific, $500; Bay State Cas- BIS; Chicago
Gas, 1905; Sugar, 1880; Chicago Great
Western, $500.
The following were the fluctuations of the
leading railway and industrial shares fur
nished bv c. H. F. Smith & Co., members
New York stock exchange and Chicago board
of trade.