The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-11-02
The Stock Rarkets.


NEW YORK,~Nov. 1.-The trust stocks con-
tinue to absorb large share of atten ion in
Wall street today. The fluctuations were yio-
lent and the news conflicting, but owing to
the predominant influence Of Tobacco in this
class OF securities, most OF the group CLOSED
the day at net losses. The trading in all of
them was with full mystery on and there
was no conclusive reason known to the pub
lie either for the early advance or a subse-
quent decline. Probably the inherent weak
ness of Sugar, in view Of the fos midable trade
war in prospect was the root of the difficulty
which was precipi.ated by the announce
ment that one of the new rival companies
had commenced melting sugar rUdsy. There
has been support of Sugar for several days
with the obvious intent of aiding the rise
in Tobacco, and when 1t proved too heavy to-
day, Tobacco took a sudan drop of over 6
points, ard fuctuated fever.shly for the resi-
of the day. 1t is quiteiiposslble that Tobacco
was allowed to fal with a view to shaking off
an indescribable speculative following But
whatever the purpose the movement of the
price was purely manipulative and under
control. The Federal Steel stocks fell off
from the best IN sympa: ny, but the fuctua-
ton In these was much narrower ard the
support apparently more substantial The Sc
curfties CT the new Standard Distilling com
Pany, the twin company of the American
Spirits refining company, were the latest
accessons to the list of'so-called trust stocks
on the exchange with an added capitalization
OF $24 0e0 Geo to this class of sscuri les They
rose from 2 to 2k pcin g over the early nuo
eral heavineSs Of the market The alWsys
vulnerable coalers came in for some severe
raps on the ground of the unravorable Sep
TENDER statements Of Reading and New Ter
sey Central and the general depression in
the anthracite trade Extreme dec Tres rang
ed from to 81 in the drop which uncoy-
cred stop loss orders, but which was followed
by rally on covering of shorts. A rise of
l9s in Manhattan on talk Of new and power
full interests in the company aided the hard
ening tendency of the market, in the late
dealings. Changes in the railroad list are
very small as rule and though losses pre-
dominate there is a fair sprinkling Of gains
Norfolk & Western preferred is q consnicu-
Gus example on its strong September state
ment, showing LAST years high level of earn
ings well maintained. There was not lacking
a feeling Of uneasiness over the threatening
portents on the European political horizon
reflected In the spasmodie rise in the iver
pool wheat market in the absence of trad
ing on the Lord)n and P ris stock exchanges.
Railroad stocks as whole, however showed
themselves remarkably little affected either
by this or the weakness In the spaeialtjes
There was more activity shown in railroad
bonds than in stocks, ard though prices as
a rule were easter, there were exceptions on
the side of gains. Total sales 80 21O 00O
United States IS registered ard the old As
registered advanced X In the bid price The
IS coupon sold high as 1855 ex-interest
which IS equivalent TO thes best preceding
price with the lnterestbonsi
Total sales of stocks. today were 1886 500
shares, including: Atchison preferred, 1885;
Burlington, 1855: Manhattan To- 1872: d. &
H, 1922: L. & N, 9,345;' Union Pacific pre-
ferred 1922; Haw. c. c. preferred, $500:
Northern Pacific s. 2Ss: st. Paul II az.
American Cotton OIL ;12, 1902 American To-
bacco, 81 420 Federal Steel preferred. 40. 469:
Sugar, Al, 203; Chicago Great Western, g. 400.
STOCKS. =,
The following were the fluctuations of the
leading railway and Industrial shares. fur
nished by c. H. F. SMITH & Co., members
New York stock exchange and Chicago board
Of trade Closing are bid prices: