The Saint Paul globe., 1898-02-12
NET LOSSES THE RULE
PROFIT TAKING IN STOCKS ON
QUITE A HEAVY SCALE,
Closing Up of Accounts In Anticipa-
ton of q Double Holiday the Mo-
tive for Some of the Selling
Dealings in Bonds Active With an
Upward Trend.

NEW YORK, Feb. n.-There was profit
taking on quite heavy scale in stocks today.
said to be for the account of one of the prin-
clpal bull operators The interval of two days
DeIore trading Will be resumed on the eX-
change was the motive for closing UP some
accounts, as is always the case on the eve
of double holiday.
The sharp advance in some stocks at the
opening afforded more favorable opportunity
Tor realizing profits. The opening rise was
largely influenced by the higher quotations
Tor Americans sent from London and was also
helped by the marked strength of one or two
specialties, notably Metropolitan Street Rail-
way and Peoples Gas, the latter on the pub
nshed report of the companys finances. Lon
don bought here on considerable scale, and
helped to sustain prices to some extent.
But the offerings were not well absorbed
and support was largely withdrawn. The
weakness OF stocks encouraged the putting
out OF short lines. The covering of some of
these before the close brought them to a level
materially above the low point, but left net
losses as general rule.
Metropolitan Street Railway continued its
remarkable advance, rising at time
points, but closing points below that Third
Avenue was up at one time 61a points on the
announcement of the question of large con-
meeting system. The stock, however reacted
points before the close.
Some OF the notable recent advances have
Deen due TO the rumored pendency of plans
for the distribution of surplus resources to the
credit of some of the gilt-edged properties
The prevailing abundance Of money is said
to make the care of these surplus funds in
creasingly burdensome Such a property is
Pullman, which advanced an additional point
today, but reacted points in the closing deal
lngs. Adams Express was sold ex-dividend of
per cent today, and eX-100 per cent in bonds
to be exchanged for stocks of the company.
The closing bid yesterday for the stock was
1S7, and today's closing was 100 bid and 14C
asked
The days dealings in bonds continued on a
remarkably large scale, single lots of par
value from $4,000 up to $3.50 900 changing
hands frequently. The par value of sales for
the day of Atchison adjustment As alone was
$92O,CO0. Some of the speculative bonds re-
acted quite sharply in sympathy with stocks,
but the general tendency was upward
Total - es of stocks today were 1856 900
shares, including: Atchison pfd II, 1874; C. &
O., 3635; c., P. & G., 32, 800; Erie pfd 4,270;
Lake Shore, 6,372; l.. & N, 19011 Manhattan
q, eco; Metropolitan, 80 5e5 Hawaiian, 3151; n
Y. c., 25,270; y. P, 6,625; ditto pfd 1920 R.
l., 6S05; st. Paul, 2,6S5; St P. & O., $3.50;
Southern pfd, 1885, Union Pacific, 9674 To
bacco. % $40; G. G. W, Bis; Peoples Gas,
1880: Consolidated Gas, 5.S37; General Elec-
trio, 5000; Sugar, II, ,536; Rubber, 1900; ditto
pfd 6,O27
The following were the fluctuations of the
leading railway and industrial shares, fur
nished by C. H. F. Smith & Co.. m ambers
New York stock exchange and Chicago board
of