The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-26
CUBAN SCARE OVER
RUSH TO BUY BACK SHARES SOLD
OUT BY THE TIMID
HOLDERS.
NEW TALK OF GOLD IMPORTS,
THE EXCHANGE RATE INFLUENCED
BY PURCHASING ORDERS FROM
ABROAD.
Northern Pacific and the Other
Properties Unusually StrOng-TOne
at the Close BuOyant.

NEW YORK, Jan. 25.-The timidity mani
tested by dealers in stocks yesterday be-
cause the warship Maine had been ordered to
Havana was fully equalled by the confidence
with which traders bought back their stocks
today when the ship had arrived in Havana.
The most notable feature of the days trad
Ing was the large volume of transactions for
London account The number of shares
bought in New York for London account vas
estimated at from $4,000 to $4,000 shares.
Even with this large demand to be filed
prices were not lifted at the opening fully to
the London parity The sharp decline here
yesterday seemed to have awakened a keen
demand in London for AMERICANS and cary
quotations from there showed yesterdays de-
cline here largely recovered. The strength
of the Spanish tours in London also indicated
the absence of apprehension of an embroil-
ment between the United States and Spain.
London gave the tone to the days market and
sustained it by the absorption of free offer
ings of securities after the opening. The for
eign buying of securities was sufficiently
heavy to have a marked effect on the ex-
change market the actual rates declining H.
with the demand for bills very light. Lon
dons large buying of securities has in fact
led to renewed talk of early imports Of gold
and this talk is given additional force by the
showing of merchandise exports from New
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in excess of those of last week, and over So
00G,Q00 greater than those in the correspond ng
week of last year.
1t was evident that some of the professional
traders, who put out short contrac in yester-
days Cuban scare, refrained from covering in
the early transactions in the belief that the
market would become very easy after London
had ceased operating. The beated shorts
rushed to cover in the final transactions and
made the buoyant tone at the close which
found prices at the best of the day for the
standard stocks. Yesterdays losses on the
average have been more than recovered New
York Central was most conspicuous in the
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and the stocks of allied properties shared in
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be added to the list. The local transit and
gas stocks moved in somewhat erratic man
ner under Pallable manipulation all showing
gains except Third Avenue which reacted
sharply.
The bond market showed increasing activity
and strength as the day progressed and
showed gains as a rule. Total sales, So, 300 900.
United States old As registered were Is lower
bid, but do coupon and the new As were Is
higher.
Total sales of stocks today were 325, coo
shares including 4 III Atchison, 5000 Atchison
preferred 24,96O Burlington, AGO l.. & N,
~ MduudtIdu O,II0 Met Traction, s, t0U
Michigan Central, 1920 Northern Pacific, a.
$50 Nor, hern Pacific preferred, 5000 Ontario
& Western, 1892 Rock Island, 10, $50 st. Paul,
3,S05 Southern preferred 1850 Texas & Pa
cifc, 20,4SO Union Pacific, $3.50 Spirits, 5,43O
Chicago Great Western, 8725 Peoples Gas,
9,335 Consolidated Gas, 3O,94O Sugar, 4,3S7
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.