The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-11-19
The Stock Markets.

NEW YORK, Nov. 1s-There were weak
points IN the start today, but the underlying
elements OF strength promised at one time
TO overcome obstacles and carry prices uni
formly TO higher level. Apprehension OF a
weak showing in tomorrow's bank statement
turned the tide towards the side OF reaction
in the late dealing. The level of prices
was In most cases carried sharply below last
night ana net gains remaining were very
mucn reduced from the extreme advances OF
the day. The most influential factor in caus-
ing weakness was the obvious liquidation
going on Northern Pacific. which is a.
tributed TO one OF the leading financial in
terests In the property. The absorption Of
the stock was attributed to the leading con-
ess of transferrence is significant OF the dis
cord said TO exist in the property. Rumors
are rife, also, Of the breaking up OF the
agreements which have been so favorable a
factor IN the Northwestern railroad world.
The effect was manifest not only in Northern
Pacific, but in Union Pacific and other rail-
roads In the region affected. Delaware &
Hudson was raided down to 93&, with &C
companying rumors of dividend reduction.
This is the lowest price for several years and
is an accurate reflection of the decline in
the anthracite trade; other stocks affected by
that trade falling in sympathy Nothwith-
standing these elements OF weakness, the
market showed good recuperative power, the
buying OF Peoples Gas particularly being a
sustaining feature. This stock rose an ex-
treme "a. Burlington recovered half of its
quarterly dividend before the late relapse in
the grangers. Denver & Rio Grande preferred
also showed continued strength. There were
conspicuous advances in a number of trunk
lines. including B. & o.. and there a
light late movement In Brooklyn Transit,
Chicago X Eastern Illinois and q group OF
southwestern railroads. The passing of The
Chicago 4 Altonl story resulted in a loss of
z TO 3 points in Kansas City, Pittsburg &
Guh, Chicago &: Alton and Lake Erie x
Western preferred -
The expectation. Of an unfavorable bank
statement is based on the known activity OF
the week in the money market, which must
nave largely increased the reserve require
ing In the currency movement to the in
terror or subtreasury operations 10 indicate
a large increase in cash TO meet the re-
qulrement so that q further decrease in
surplus is looked for. The money market
continued easy today.
The bond market showed a tendency to run
on in the lae dealings except for a few
strong spots afteHfa period of earlier strength.
Total sales, 81, $4,000, U. S. IS and the new
As coupon advanced sd in the bid price.
shares, including Atchison, 1867; Atchison
pfd. $3.50; Baltimore g. Ohio. $3.50; Buriing-
ton. u,I4S; c. & o. 1913; Denver & Rio
Grande. 5000 Denver & Rio Grande pfd,
Manitoba, $50; Metropolitan Street railway,
1921; Reading lst pfd, 5.130; Northern Pa
cihc, 43 $50; Northern Pacific pfd, 800;
Northwestern, 4.255; Rock Island. 16. $50; st.
Paul, 12,2l5: Wabash pfd. II SIS; Paper 8 S27;
Tobacco. 22S4S; Cotton OIL 1923: Bay State
Gas 1854; Federal Steel Il. $50; Federal Steel
preferred. p 000: Peoples Gas IS 315; Pacific
Mall. 6.l7o; Sugar. 1885,; Chicago Great West
ern, S. 4S0.
STOCKS.
The following were the fluctuations of the
leading railway and Industrial shares, fur
nished by c. H. F. Smith & Co.. members of
the New York stock exchange and Chicago
board CT trade: