The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-02-01
MARKET MORE ACTIVE
MOVEMENT BROADER THAN FOR SOME
TIME, BUT VERY UNEVEN
Northern Pacific One of the Leaders
in the Days Operations, and a
New High Point scored-Extreme
Gains Cut Down by a General
PrOf1t-Taking Movement.

NEW YORK, Jan. 31-Today's stock market
was more active and broader than at any
Tune since the present upward movement be-
gan, but 1t was exceedingly uneven and some
prominent stocks in the list show net de-
cllnes. The market ignored the heaviness of
some Of last weeks speculative favorites and
other stocks were taken up and pushed ag-
gresslvely. There was obvious realizing in
New York Central, Lake Shore, Rock Island
and Sugar.
The leaders Of today's advance were Chesa-
Pea ali 4 OHIO, Cleveland. c., G, St. Louis.
cifc preferred. The first two named were
affected by the published rumors that an
amalgamatton was in prospect similar to that
projected for the New York Central and Lake
shore; There was quite large demand re-
ported for Chesapeake & Ohio for London ac-
count, which was attributed to the presence
in London of a prominent authority in that
property. Other properties which are largely
under similar control shared to less ex-
tent In the strength. Northern Pacific pre-
Ierred continued Its remarkable advance, and
touched So during the day. Confident asser-
ton that an extra dividend was imminent
helped the advance. Louisville continued to
enjoy the reports of refunding plan nearing
completion. The strength of Pennsylvania
was said to be due to the operations Of a
pool which are based on the assumption that
the stock has not enjoyed a rise commensu-
rate with that of other trunk lines which are
no better situated. The sharp rise In BaIti-
more & Ohio. which at the highest amounted
to 3@. was unexplained by any news of the
day.
Strength in number of the tndustr1a1s
notably Tobacco and Leather preferred and
the advance OF some Of the high-priced in
Vestment stocks. and the strength of the
coalers, due to the prevalent cold weather
helped to sustain the market and the con-
unued large absorption of railroad bonds was
an additional factor. The tone of the grang-
ers was heavy. all day, with the exception of
burlington, which rose at ont time over
point, and of Northwest and Omaha which
moved In sympathy with the Vanderbilts
There were several halts during the day, due
10 taking of quick profits, and the trading
crossed WIN very general movement to that
emo. which embraced all the most active
stocks. cutting down their extreme gains in
all cases. Sugar lost nearly all of its early
advantage. '
market. and Union Pacific and st. Paul felt
the adverse effect of this selling. Commits
sion house business was on a very large scale
Blu business ness In the bond market was on a
the Union Pacific and Atchison issues and
the Texas & Pacific seconds being in special
demand Prices are higher all round. Total
sales, o540, 00O The United States new tours
's Tatai 4 DID. and the fives coup. Is.
snares, including: $500, Atchison pfd; 5,61S.
b; q o.; A, S99, G. & O.; %, 705, Burlington:
f frs &C &C. o6 g. G. St l. s,s45, Illinois Cen
Hawaiian; 1855, Reading pfd; 4,220' Mis- Mis-.
souri, Pacific; 4,775, M. K. & T. Did: 3 40
\: j. Central; 30 $50. N: Y. Central; 26150,
Sorthern m paee AZ 49, do pfd 3,O91 Oregon
~ 800 500, St Paul; 1852; St. Paul &. Omaha;
9 9.o1Ss southern southern pfd: $3.50, Union Pacific;
a apn 49, BE- TSbaeco 6565 Chicago Great West,
U; 5. Leather; 5,445. do pfd; $3.50, W. q.
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