The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-28
STOCKS UTILIZED TO SELL
OTHER ISSUES.
LOSSES AND GAINS MIXED
NEW YORK CENTRAL AGAIN A CEN
TER OF INTEREST IN THE
MARKET.
LONDON BALANCE ON SALES SIDE.
Change of FrOnt-BOnd List
Active.

NEW YORK, Jan. 27.-There were a num-
Ter of features of aggressive strength in
today's stock market, but there were also
evidences that the sustaining force OF these
special stocks was taken advantage of to
sell out heavy lines of other stocks to realize
profits The center of intertst in the market
continued to be New York Central. The per
sistent advance in this stock is attributed
very generally in the street to inside buying,
and the reports of a pending plan for the
merging of Lake Shore and New York Cen
trail find very general credence. All sorts of
rumors are constantly a1oat, protesting to
give in detail the plans for this merging and
also for the consolidation of various other
Vanderbilt properties, but no authoritative
announcement has been made. nor is one ex-
pected. The advance in New York Central
was twice arrested during the day by re
actions. The large absorption of the stock,
which developed before the decline had
reached great leng h, suggested by the prob
ability that the reaction manipulated in
the interest of those seeking to acquire the
stock Lake Shore yielded ~ of its eX
IRENE advance of 21a before the close. 1t
is noticeable that the Vanderbilt stocks FOR
the most part closed below last nights final
price.
Northern Pacific preferred Kansas & Texas
preferred and Rock Island were leaders of the
market, in conjunction with New York Cen
trail. There was not lack of other features
of strength in the market and the New York
transit companies were conspicuous for
sudden and sharp advance in the final hour.
But considering the large volume of this bust
ness the small net advance in many active
speculative favorites and the mixture of
losses on the days business, it must be re-
garded probable that there a large
tagging of profits by recent buyers. Lon
don had large account In the local market
today, and the side of sales there was
a balance of over 5000 shares. There was no
news to explain such a change of front on
the part of the British financial center, and
it can only be accounted for in the significant
disposition to take quick profits on sharp
aS.ance.
Sterling exchange responded to the London
seu"'g with rather irmer tone. There was
no hardening tendency perceptible in the local
money market.
The enormous demand for middle-grade and
low-priced bonds con inued in that depart
ment of the market today. The volume of
transactions thus far is much in excess OF the
same time in any previous year-for a
month Today's business was large and the
advance is marked in the low-priced specu-
lative issues. Total sales, So $4,000 United
s ates old As, coupon, were 70 higher bid;
the is 4 higher. and the 5s, coupon, - lower.
The total sales of stocks today were sos, 800
shares including 14.215 Atchison preferred
6.177 Chesapeake & Ohio, 1884 c., B. & O.,
1854 Erie preferred, 6240 L. & N, 9,595
Manhattan, 5,S93 Michigan Central, $3.50
Reading preferred II 955 Missouri Pacific
1880 NJ. K. & T., 1880 NJ, K. & T. pre-
ferred. $3.50 New Jersey Central 81, 220 New
York Central. 6,3S5 North American, L, $50
Northern Pacific, As, $40 Northern Pacific pre-
ferred, $40 Ontario, 20,12O st. Paul, BPS St.
Paul e. Omaha, 4.102 Southern Pacific pre-
ferred. 1920 Texas & Pacific. 1,1O2 Union Pa
ciic $3.50 Tobacco, $3.50 Chicago Great West
ern. SIP Peoples Gas. 6 EST General Electric
$50 Laclede Gas $40 Sugar, 700 Leather
preferred. 1882 Western Union.
The following were the fluctuations Of the
leading railway and industrial shares fur
pishcd by C. H. F. Smith & Co.. members
New York stock exchange and Chicago board
of trade: