The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-04-19
FLOATING STOCKS
AN IDEAL MARKET FOR PRO
FESsIONAL OPERATORS
Market Buttressed With Buying Or
ders Below the Present Level of
Prfces-One Point Turn About
All That Is Possible at Present--
The Net Changes for the Day
Were Very Narrow.

NEW YORK. April 18.-There was buying
OF stocks by professionals in the first hour
this morning, which raised the prices Of
most Of the limited number of stocks traded
SOLO again, wiping out the early advances.
The days changes are insignificant, and are
mixed between gains and losses.
the smallest in the history Of the exchange,
and a large proportion Of the small total
was made up Of Tobacco. This stock con-
tinued to reflect the contest between the
insiders and shorts, and the indications all
went to show that the shorts were in dis
tress. After falling more than a point the
stock mounted In an eccentric way points,
and closed a point below the best
The buying Of the morning, which adj
vanced the general list, was apparently
based on the presumption that the differ
ences at Washington on the Cuban CUES
luton by delaying war. There were slight
advances In the price of Americans in Lon
don before the opening here, which helped
on the rise. The selling was due to the &C
ceding from its resolution and concurring
In the senate resolution, after eliminating
the recognition of the Cuban republic.
The feature Of the market is the small
ideal market for professional operations on
account Of the ease with which prices move.
But 1t Is evident that the present market
is buttressed with buying orders below the
advance is met with large selling to realize.
1t is this that produces the almost unyield-
ing steadiness Of the market. A 1-point
turn seems to be about the utmost that the
professional room traders are able to ac-
complish.
The gold received by Saturdays steamers
still further fortifes the cash reserves of
the banks. and engagements announced for
today were over 81 000, 600, besides 81, 900 900
engaged late on Saturday. The money mar
ket. however. showed little disposition to
yield, although call money was loaned on
the stock exchange at per cent. Banks and
trust companies generally hold out for per
cent for call money and per cent for time
money. The movement of funds to the in
terror continues, but 1t is regarded as very
s1gn1hcant that outside banks are beginning
to loan money here. The expectation Of a
government loan without doubt influences
the banks to hold their reserves, and the
marked weakness Of government bonds to-
DAY was taken as indicating the approach OF
new bond issue.
The market for railroad bonds was almost
absolutely stagnant, and there were no
changes Of significance in prices Total sales,
$550,000 United States new As declined ~.
the old As registered H. the old As coupon
l and the 5s n per cent in the bid price,
Iotal sales of stocks today were 100 600
shares including: 7,128 Burlington, 3,421
Northern Pacific. 1920 st. Paul, 9,251 Union
Pacific pfd, 4.450 U. P, D. G G.. ST. 1866 To-
bacco, 1855 Sugar.
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: