The Saint Paul globe., 1897-09-25
LIQUIDATION IN STOCKS PRACTI-
CALLY UNCHECKED DURING
THE WHOLE SESSION.
PUBLIC REFUSED TO BUY.
LACK OF SUPPORT OUTWEIGHED
FAVORABLE NEWS AS CON-
TROLLING FACTOR.
VET LOSSES FOR THE ENTIRE LIST.
For Most of the Active Shares The
Decline Was Between One
and Two Points.

NEW YORK, Sept. 24-The reactionary
spirit resumed full sway today in the stock
market, after a brief period of higher prices
during the morning, due to sympathy with
sugar, which advanced at one time points
over last nights close. Sugars strength was
due to the belief that the treasury depart
ment would decide that Holland was in effect
paying an export bounty on sugar, and that
countervailing duty would therefore apply to.
Dutch refined sugar. The rise in Sugar, and
some strength manifested by Manhattan,
served to raise the general level of price
to fractional extent, but proved inadequate
to sustain them, and, for the remainder of
the day, liquidation was practically contin-
uous, though more free at some times than
others. There was nothing in the news of
the day to account for the decline all the re-
ports OF railroad earnings continuing to show
large increases and advces of the growth of
business activity being uniformly encouraging
from all points. The outside public, how
ever had apparently ceased to buy, and the
large bull operators were no longer willing
to accept the heavy offerings of stocks made
to them. Profit-taking was the order of the
day.
The market was dull compared with the
recent tone but the decline was nevertheless
unchecked. The bear interest was well de-
day. The situation of the money market con-
tinued to attract interest. The features were
the frmness of call money on per cent,
and considerable activity in the time money
market The exchange market also hardened
actual rates advancing about Ac in response
to the gold shipment the way to this
country. Remittances to the interior have
continued on large scale and tomorrows
bank statement is expected to show a large
additional increase in the surplus reserves.
The banks and the subtreasury have been
able to meet all demands thus far for cur
rency, but the demand upon them is large
and promises to increase. The treasury at
Washington found itself unable to accede to
the request of local banking firm, which
had received consignment of gold at San
Francisco to it's credit, to be allowed to with
draw legal tenders from the subtreasury in
New York, upon the deposit of the gold in
San Francisco.
Among the returns of railroad earnings for
the third week in September, Missouri Pacific
showed an increase of Sill, 900; Denver & Rio
Grande of $21, 600, and Rio Grande Western
$19,3 300. For the second week, Northern Pa
cifc showed an increase of SIPS, 1855. New
Jersey Central for August showed an increase
in net OF $99, 1913. The stocks of soft coal
roads, which have failed to share in the late
Improvement, owing to the miners strike,
showed some activity today and were COM
paratively steady. The net losses run all the
way from fraction to Z points, the latter
Consolidated Gas, but in the large majority
of active shares it is between 1 and points.
Susquehanna & Western preferred lost Az,
and Sugar, Cotton OIL Delaware & Hudson
and Omaha over points. Illinois Steel rose
3%.
: Bonds were weak, in sympathy with stocks,
on great diminished volume Fof transac-
tions Total sales, s1,770,O00. U. s. fours
registered were Is higher bid and the fves
"A higher
The total sales of stocks today were 521,-
200 shares. including: Atchison pfd, 13,25O;
C. & 0.,6,030; Burlington, 32,319; Hooking
Valley, 6,770; L. G. N, Il, 100; Manhattan, H.
$50; Met. Traction. 3,4OO; Missouri Pacific, A.
$50; NJ, & 7. pfd, 4,31o; n. Y, S. & W,
3,G40; New York Central, 3,51S; Northern Pa
c.fic, S,275; do pfd, 1920; Reading, 1920;
Rock Island, %, $50; o. & W., $3.50; st. Paul,
46,72O; St. Paul & OMAHA 500; Southern pfd,
255; Union Pacific, 41020 U. P, D. &
G., $3.50; Wabash Dfd, 4,7SO; w. & L. E.,
4,235; Tobacco, 10,016; Bay States Gas, 49,
190; Chicago Gas, 9,100 General Electric,
3,770; Lead, 4,650; Pacific Mail 1855; Sugar,
70470; T. c. & l.. $780, w. u, 1858; Chicago
G. W., 1885.
The following were the fluctuations of the
leading railway and industrial shares, fur
nshed by c. H. F. Smith G Co., members
New York stock exchange and Chicago board
of Trade