The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-29
The Stock Markets.

NEW YORK, Oct 28.-The stock market
today took on some of the characteristics of
bull campaign in full force. Business was
large and exceedingly well distributed many
or the usually inactive stocks being brought
forward into the movement, while the mar
ket was much less dominated by the special
ties, which. however. continued very active,
principally Sugar and Tobacco. The former
was less violent in its fluctuations than on
yesterday, and although it advanced several
. times. II met more stock than 1t cou car
ny. 1t ended the day unchanged. Tobacco,
on the other hand, after a fractional decline,
surged strongly upward, the extreme rise
being nearly points. The rise was coupled
WITH rumorS OF the hotation of the new plug
tobacco company and in the taking In OF
many large competitors in that fed An
0ther conspicuous movement was that in the
oeaiings in the securities Of the Federal S.eel
company, when issued These stocks were
at one time 1AQ1% above last night. The
company certificates of the Minnesota Iron
company, with the cash payment added, Civ
ing the right to enter into the Federal COM
pa1y' sold at 131, advance OF 4 points,
ana ana the Illinois Steel certificates c.osed at
SDc Dld, a gain of points The securities
OF other iron and steel companies showed
strength to less degree. Brooklyn Transit
was 5, notably strong on talk of the absorp ion
OF the Nassau Electric, rising over 7 points
and Metropolitan Street Railway also ad-
vanced points. Manhattan was in strong
contrast, with an extreme decline of points,
selling down to 95 The Edison Illuminating
company, of New York, gairei IL DO nts
with no news to explain the rise The Rub
Der STOCKS were rather heavy on talk Of an
opposition company. Peoples Gas rose a.
point in connection with the taking over of
Manhattan Oil company. Speculation in rail-
road stocks was active and varied the grang-
ers leading in point Of activity. Reports of
one or two Southwestern roads showing in
creased earnings more than evened up by
enlarged operating expenses were drag on
tnat group, and there was some slight heav-
mess amongst the trunk lines Prices are
as rule, higher, however. There was
marked diminution In activity in the latter
part of the day, and the room traders took
Proh6s reducing the days net gains below
There was very notable activity and
strength In the bond market, and evident
pressure OF large sums of money seeking in
Vestment. Bonds of Western and Southwest
ern roads, especially reorganization bonds
seem to be in especially favor and thera
was strong recovery in Erie general Is
which have recently been under pressure
IRON Mountain IS were also conspicuous
tiftsburg Gulf lists dropped to 671h. a fall
OF Z12 ner cent, but recovered later. Total
the 5s coupon advanced Il in the bid price
me new IS were very active coupon sell-
ing at l06 nearly al Day. which is the record
price mere were $685., 800 Of this Issue
changed hands during the day.
Total sales of stocks tcdsy were 379 800
shares. including Atchlson pfd. 7 492; L. &
N 290; Manhattan. 144"0: Met Street Ry.
1875; Northern Pacific, 10 $50: do pfd. 4190
Rock Island. 10,920; Union Pacific 1928 do
pfd 6,7S8; St Paul, 1854; Sugar, SO, 64S.
STOCKS.
The following were the fluctuations of the
leading railway and industrial shares fur
n1shed by G. H. F. Smith & Co., members
New York stock exchange ard Chicago board
OF trade. Closing are bid prices: