The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-11-20
Gas HAD THE STAGE
INTEREST OF THE DAY AT NEW
YORK Conferred IN CON-
SOLIDATED.
THREE POINTS NET GAIN.
THE STOCK MOUNTED BY LARGE
BOUNDS AND FELL WITH
EQUAL RAPIDITY.
SHARP RISE IN STERLING RATES.
Market Still Duff, but Slightly Inn
proved, Both in Volume and
In Price Range.

NEW YORK, Nov. 19.-The market today
continued its dull and narrow character
though at some slight improvement over yes
terday both in the volume of the trading
and in the movement of prices. The extreme
rise, ON the average, was greater than yes
terday but realizing sales in the last hour
reduced the net gain to very narrow frac-
lions in most cases. The movement in the
specialties was much freer than in the stand
ard railway stocks, and Sugar and Manhat-
tan ran one time two points higher than yes
terday's close and sharp gains were also
shown in Peoples Gas, New Jersey Central,
Reading first pfd, and Lead pfd. All Of
these gains were very materially less before
the close. West Chicago Street railway was
quite active and strong and rose nearly two
points. But Consolidated Gas occupied the
middle of the stage and was the center Of
attention all day. This stock opened 80
points higher on the belief that a large indi-
Vidual interest in one of the local gas COM
panies. which has been holding out for the
best terms, had been brought into the agree
ment for amalgamation. The mounted up
ward by wide bounds sometimes over point
between sales, to- 1897. But the very great
scepticism in the speculative mind regarding
published utterances on the progress Of the
plan of consolidation then became manifest
In the equally feverish course Of the stock
toward lower level. 1t got as far down as
1873 and after vibrating in very erratic man.
ner, closed u point higher at net gain of
8 points.
The late weakness In the general market
was due in part to reports from the West Of
falling off in railway earnings and to wide
spread difficulty over the maintenance Of rail-
way rates. There was talk also that large
innr ", raA,
the net earnings Of railways for October be-
low what has been counted upon. Buying for
London account helped to sustain the market
in the earlier dealings.
A feature of the day was a sharp rise Of
&c in the rates of sterling exchange, both
for demand bills and cable transfers. This
was in part the reflection of stifening In
the discount rate in London, where the Bank
of England is again borrowing money in the
open market with the purpose Of controlling
the private discount rate and relieving the
pressure for gold on that center. Money in
this market continued very dull and easy in
all departments Not only has the dizziness
of speculation reduced the demand for money
but there has been quite a heavy flow of
funds during the week from interior points.
Tomorrow's bank statement is expected to
show a material increase Of available money.
The bond market was moderately active and
prices advnced. Total sales, 81, 345, 900. U. S.
As reg. and 5s advanced Is bid.
Total sales of stocks today were 1875, ASS
shares. including: Burlington, 1920; l.. &
~, 1880; Manhattan, 7,425; Missouri Pacific,
$500; Rock Island, II, 1875; St Paul, $780, St.
Paul & Omaha, 5105; Union Pacific, 1852;
Tobacco, 5000; Peoples Gas, 1890; Consoli-
dated Gas, 1868; Sugar, 81, 991.
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: