The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-09-23
The Stock Morkets.

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Cali money, New York. .........21a@3
Bar silver, New York 81 5-16 81 ole
NEW YORK, Sept. 22.-Today's market was
largely given over to what are known as the
srecialties. There was an upward rise OF
prices in these stocks at the opening but the
evidence of weakness in Sugar which domt-
mates the specialties quickly brought reallZ-
ing sales. The tone was rather heavy and at
times somewhat feverish for the rest of the
day. Traders who had turned bullish on
Sugar on the supposition that the long re-
action was over, made up their minds that
the recent rise was simply campaign
against the shorts and turned sellers again.
Manhattan jumped 9sc above par on PresI-
dent Gould's talk of early electrical equip
ment, but the character of the selling on the
advance aroused distrust and the bears raid
ed the stock. The extreme range of both
these stocks was more than per cent, and
New York Air Brake Which rose over 2
points in the early dealings, reacted 8A To-
practically Unchanged. These are extreme
examples of what going on to less eX-
tent throughout the list.
Movements of individual stocks were very
cratic and the market was excessively ir-
reg ular Meantime the railroad lists were
sluggish and resisted the depression in the
specialties, except for a few stocks. The
Pacific pfd This was partly due to the fact
that London had only just arrived at the
conclusion quite definitely formed long ago
ferrod stock would be only ~ per cent. The
announcement of the dividend caused "a ly
of about a point the shorts having evidently
avail led the event to cover.
The decline of over point in Northern
Pacific was unexplained unless as realizing,
since the second weeks statement showed
earnings over $50 coo in excess Of last years
high level The Reading statement for July,
showing a decrease in net earnings for all
the companies Of $267,S72, caused some heavi-
ness in the coalers. NorthWests August
otn chp TfT-O q -
$50 over last years unprecedented earnings,
was responsible for strength in the grangers,
with St. Paul especially being iaIg ely alb
sorbed. The process OF relief for the New
York money market was continued today by
further large engagements Of gold from Lon
don, by debit balance against the sub
treasury of 81 271 ,444. and by demands upon
domestic centers. New York exchange in
Chicago rose from Ice discount to 10c pre-
MUM; call money in London rose y per cent.
open market discounts there rose - TO $s per
cent and the bank Of England raised its min
imum rate of discount ON 21h to per cent,
after having borrowed largely from the mar
ket to raise the rate to the level of its own.
The demand for silver dollars for shipment
to the West has led to the subtreasury, Civ
ing notice that the dollars must be paid for
in silver certificates or treasury notes since
the supply of coin has been nearly reduced
to the amount Of outstanding silver certii-
Gates.
The bond market continued comparatively
dull, but prices were we'll held. Total sales,
$1,220, 0C0.
T. s. twos declined u and the new As a,
while the old As coup advanced a in the bid
price.
Total sales of stocks today, S58, 100 shares.
including: Atchison pfd, 1888; c., B. & O.,
5,971; Manhattan, $50: Northern Pacific
Union Pacific pfd, S7,S57; Cotton Oil PATIO;
Tobacco, 1880; Chicago G. W., $3.50; Peo-
pies Gas, 9,795; General Electric, $3.50;
Sugar, 95 $780, Leather pfd, 3,1S5; Rubber,
S,O85; Western Union. 1851.
STOCKS.
The following 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: