The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-11-08
The Stock Markets.

Call money, New York 49,. 2 1902
NEW YORK, Nov. 1.-THE days stock
market undoubtedly REFLECTED the conviction
OF operators In securities that with election
uncertainties out of the way, the strong con-
uluohs OF the country industries and business
Will nave their effects and prices will ad-
vance. This conviction, SO far as it found
reflection in the market. was almost purely
professional, for the outside interest as
seen by orders through commission houses
was very small. The professional element
showed no DISPOSITION to take profits pending
tne holiday, although there has been sufi-
balance Of trading to that side in closing
up OF speculative account. The evidence was
rather on the sideas of covering of shorts.
na pa0i dnyip proceeded zee very desqltory man
tnougn the selling for foreign accounts which
was palrly liberal, was we'll absorbed and
prices Oh the international stocks firmly sus
talneo. Southern railway preferred was a
conspicuous example. But as the day wore
on, the market gained both in activity and
strength and embraced an increasing list of
STOCKS. The contemplation of the very heavy
volume OF bank exchanges and the enormous
export business in cereals had their influence
on the bullish tendency as did the continued
favorable report of railroad earnings, especial
~ from the West and South. An increase
OF 4,O0O tons in the eastbound freight move
ment from Chicago was a feature. Hand
some increases in earnings were also shown
py southern railway, Northern Pacific and
Great Northern preferred, the latter showing
$SS6, 94l more earned for October than last
year. Inc stocks, which are junior to the
nrst mortgage, We're favorites and the heavy
business In the bond market today felt the
advantage of that move. Tobacco showed the
largest activity and gained 2 points
metropolitan street railway and Edison Illumi-
Hdtine OF new York, are up to points or
over on talk of advantages to the former
from the use Of it's conduits for use in electric
hghtlng purposes. Notable movements were
an advance OF points in American Express
and OF 6h points in Pullman. Northwest
gained nearly points and Lackawanna 2
points There were dealings in odd lots OF
quite number OF high-grade stocks
But the most conspicuous movement of the
DAY was in bonds. In this department there
was enormous absorption of the bonds is
SUED Tor the purpose Of reorganizing Of vari-
GUS companies and running from 80 to 100
years or these, the 4 per cents were the
favorities and the Atchison issues were easily
the leaders. gaining per cent in the price
blocks of these bonds sold at par value of
$l95 600, sos, 900 and two of 800, 00O The Union
Pacific As were less prominent, but still &C
and Norfolk & Western general. The Erie
prior liens and the Reading As, which
might be placed in the same class. were
heavy. Marked strength and activity was
SHOWN also by the new B. & o. as, when
Issued, and also by the 91as. Dealings in
Southern consol IS continue very large There
was q good demand as well for many other
bonds Of the middle grade extending in some
sales, $4,000.
United States new As coupon and the Is
advanced nc and the old As and the new As
registered and the 5s 1sc in the bid price,
Total sales of stocks today we're 2S9, AGO
shares, including: ,aAtchison pfd, 2S,CGS; L.
n. $40; Manhattan, 5,134; Met. ST. Ry.,
Abs; Union Pacific pfd, $3.50; Gotten OIL, g.,
212; Tobacco 1856; Bay State Cas- Is, 445;
Fec; Steel, 9,24O; do pfd 13, ZIG; Peoples Gas,
S,5oo; Sugar, 22,O49; Tenn: G. & l., 4,SG5.
STOCKS.
The ile1ing 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 of trade: