The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-11-10
CLOSING TONE OF THE NEW YORK
STOCK MARKET GENUINELY
STRONG.
BUYING FOR LONG ACCOUNT
so STEADY THAT FINALLY 1T SENT
THE BEAR SIDE TO
COVER.
EARLY DRIVE MADE ON SUGAR.
List Warned Shorts That Sem
ttment Was Bulltsh.

NEW YORK, Nov. e.-The tone Of the mar
ket for stocks during the latter part of the
days trading was genuinely strong. There
was steady buying Of a good character all
day, which seemed to be for long account
and In the final transactions the shorts were
driven to cover, carrying the level of prices
strongly above last nights close, so that
the net gains in nearly all active stocks are
over point and in many cases, notably the
grangers and some of the Southern stocks,
are nearly points. The professional bear
element was prepared for a continuance OF
the successful campaign of yesterday, and
set about raiding the market very soon after
the opening, which showed fractional i'm
provements in sympathy with London. Sugar
was the vulnerable point of attack and was
driven down over per cent on ill-dehned
rumors of charges to be formulated OF IL
legal entries Of imported sugar. The bears
also succeeded in depressing n. ]. Cen
trail, Manhattan and one or two other re-
Gently susceptible stocks. But the sympa-
thetic decline brought about in the rest or
the list was narrow and gave sufficient warn
ing to the bears that they were not to have
things their own way. The coalers showed
marked tendency to recover from their
recent depression on reports Of an agree
ment between the competing interests in
benefit OF the very large cotton movement.
resulting from the lifting of yellow fever
guarantees.
The whole railway list was strengthened by
consideration of yesterdays supreme court de-
cision, denying the right Of the interstate
commerce commission to enforce absolutely
the long and short haul clause OF the inter-
state law. There was marked subsistence OF
apprehension regarding relations with Spain,
on account of Cuba, and intimation came dur
ing the afternoon, after the cabinet had gone
into session at Washington. that an official
announcement would be made there tomorrow
of an expressed Willingness on the part OF
Spain to accept the good offices Of the United
States in aiding a settlement OF the Cuban
question One of the strongest factors In the
improved tone was the large and confident
buying for London account. This was espe-
cially marked in St. Paul, Louisville and
Northern Pacific preferred. Money IN London
shows an easier tendency and invites specula-
ton. Reports Of railway earnings were, many
of them, very favorable, though Northern
Pacific showed a decrease for the fourth
week In October Of over $S6 900. There were
periods of dizziness and hesitancy during the
day. and total sales OF all stocks were less
than 100000 shares, of which Sugar, Burling-
ton and St. Paul made up nearly half. Net
gains in excess of per cent were shown by
Consolidated Gas, which rose z; Detroit Gas,
3D. "a gain OF IL points In TWO uays), Luke
shore, 5; Pittsburg, c., O. & st. Louis pre-
ferred, S1a. and Pullman, 2as.
The bond market was rather quiet, but
prices held firm. Total sales, $1,SS0 600.
United States 6s declined Is bid, and the Is,
registered, 11s.
Total sales of stocks today were $40 600
shares, including: Athchison preferred, 5,6S3;
G. q O., $780, Burlington. 49,O25; L. & N,
1910; Manhattan, 4,610 Missouri Pacific,
$50; NJ, K & T. preferred, 5,S75i Reading.
1856; Rock Island, 1875; N. J. G., 1870;
Northwestern, 5,sO5; st. Paul, 1852; South
ern preferred, 40; Union Pacific, S,4S5; To-
ern preferred. 400; Union Pacific. g. ABS; To-
Gas, 20,145; Sugar, 1889; T., G. & l., 3,O26;
Chicago Great Western, $3.50. -.
The following were the fluctuations of the
leading railway and industrial shares. fur
nished by c. H. p. Smith & Co., members
New York stock exchange and Chicago board
of trade: