The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-12
SHARP NET GAINS IN THE STOCKS
OF THE TRANSCONTINENTAL
ROADS.
GENERAL MARKET MIXED
POINTS OF NOTABLE STRENGTH
OFFSET BY OTHERS OF EQUAL
WEAKNESS.
LONDON ON THE SIDE OF BULLS.
New York Prices Did Not Respond
Fully to the Days Rise in
Europe.

NEW YORK, Jan. 11.-London operators in
American securities had apparently recov-
cred some of their confidence in the future
OF values in this country today, after the
alarm they had manifested yesterday over
our political future Some sharp gains were
recorded for Americans on the London ex-
change before the opening hour. In fact the
London bullishness outran the local opinion,
and New York prices did not respond fully
to the rise In London The market all
day was one difficult of understanding on
account of its unevenness. There were points
of notable strength and others of the marked
weakness in the list and neither was alto
gether effective in giving tone to the market.
Sugar was the special point Of weakness and
influence on the list. The grangers were
also heavy in the early dealings, though a
subsequent recovery brought their prices a
fraction above yesterdays close. The coalers
were centers of depression, on account Of the
condition of trade and the unreasonable
mildness of the weather.
On the other hand, there was very strik-
ing activity and strength in the Northern
Pacific stocks and in Union Pacific This
strength seemed to extend also to allied and
connecting railroads in the West and North
west. Thus not only are Northern Pacific
and Union Pacific from l to 2 points higher,
Pacific. Denver & Gulf, Oregon Navigation,
Oregon Short Line and Oregon Improvement
show gains, ranging up to "a points in Ore
gon Navigation. These stocks were strong
on anticipation of increased traffic from the
expected move to the Klondike They were
helped also by the decision of the interstate
commerce commission to continue the sus-
pension of the long and short haul clause on
traffic in competition with Canadian railroads.
The dealings in the stocks of these trans
continental lines were very heavy and trans
fers Of blocks of several thousand shares,
individual transactions, were quite frequent
all day.
Manhattan was another feature of the mar
ket, on the authoritative announcement of
an intention to change to electric motive
power. Peoples Gas scored a sharp rise.
The Ohio soft coal roads showed a continu-
ance Of their recent strength and newly
awakened activity. Consolidated Gas moved
up points and then fell back 4, and Metro
politan Street Railway closed at last nights
figures.
Money yielded slightly, but most of the
business of the day was done at per cent
In the time money market, however rates
were down to 212 per cent for sixty days,
and from to 3A per cent for three to seven
months. There was an active demand for
commercial paper, Out the supply was good.
Among the notable movements of the day
were the decline Of II in Baltimore & Ohio
and a rise of points in the common and
preferred stock of Susquehanna & Western. E.
The bond market was very active and the
high grade issues all showed higher prices.
There were several transactions OF par value
of 100000. Dealings were well distributed,
but the Atchison Union Pacific. Texas and
Pacific and Union Pacific, Denver & Gulf
Issues led in point of activity. Total sales,
$4,000 United States old As, registered,
are 4 higher, and the new As u bid higher
Total sales of stocks today were 100000
shares. including: 1920 Atchison preferred,
N,717 Burlington, $3.50 L. & NJ, $3.50 Man
haitian, 4,750 Metropolitan, 1895 Hawaiian
Commercial Company, $3.50 Missouri Pacific,
394o N. Y. c., q, 962 Northern Pacific, 5O956
N. P. preferred, $3.50 Rock Island, 1882 st.
Paul, 21,085 Union Pacific, 5000 U. p D. &
g. 1850 Wheeling & Lake Erie, 1850 To-
bacco, 6,925 Chicago Great Western. $3.50
Peoples Gas, 1925 Oregon Improvement Com
pany, 1857 Sugar, $3.50 T. C. & L, 5,62S
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 tradn.