The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-07-28


NEW YORK. July 27.-Nearly al the
strength and activity in today's stock market
was confined to the first hour. AT the open-
ing there was a. rush to buy as a result Of
orders placed with commission houses this
morning ON the announcement that Spain had
addressed the United States with a request
for peace. This early demand was felt quite
freely by realizing sales which held prices
PACK to within small fraction above lest
night, and even dragged them below last
nights level on active profit-taking, but these
offers to realize were quite confidently and ag-
excessively absorbed and the demand was
Still unsatisfed. The market apparently
embarked on sustained upward movement.
when Sugar began to pause after an advance
of nearly points which resulted in dslodging
heavy covering orders. Very large blocks of
the stock, many of them of LOCO shares and
upwards, were taken on the advance. But
after touching 141 support seemed to be with
drawn and a steady stream was poured upon
the market for the rest of the day. Several
times the price steadied, ana rallied slightly
only to make a renewed downward plunge
each succe ssive decline dislodging heavy stop
loss orders. The price dropped over four
points from the top and rallied only feebly
at the close. The slump was accompanied by
rumors of unloading for inside interests with
a view to retirement.
The decentralization in Sugar unsettled the
whole list and put a stop to the upward move
ment for the rest of the day. The decline in
the general market was desuItory, and was
not accompanied by heavy offerings. 1t was
traders realized to a large extent at top fg-
ure on the peace news, and they probably
viewed with complacency the subsequent re-
action, Offering opportunity to buy back stocks
at a lower level. Declines for the rest reach
ed point or over in most OF the prominent
stocks and net losses in some cases are as
much as point.
The announcement during the day of the
engagement of small amount OF gold in Lon
don for import had no effect. The transaction
regarded as of a special character, ex-
change not yet being considered at the god
import point Sterling exchange in fact rail-
lied 1Ac in the actual rate today. Conditions
in the money market remained unchanged.
Rsilroad bonds continue to be absorbed on
large SCALE recent issues of per cent for
reorganization purposes being the favorites.
Total sales, S., 600. There was continued
large demand for government IS today
when issued, very large individual blocks
being taken above 104. U. S. new as coup r.
the IS coup. Il, and the IS when issued u
per cent in the bid price.
Total sales of stocks TODAY. 344 COO shar s.
including: IA 065 Atchison pfd, 3 2S7 B. e o.,
%, $50 Burlington, 4.465 l.. & N, $3.50 Manhat
tan, 5,551 Missouri Pacific. ASS Northern Pa
cific. IS O43 do pfd, 8 1914 Rock Island, T.
10 st. Paul, 3202 Southern pfd. II 429 Union
Pacific pfd, $500 Tobacco. $40 G.. G. w.
oslo PEOPLES Cas- 101 1875 Sugar, APT T. G.
& l., 0,455 Rubber, 4474 Western Union.
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.