The Saint Paul globe., 1898-04-29
NEW ACTIVITY In STOCKS
BUYING ORDERS LITERALLY
DISTRIBUTED BY BULLS
Lead of Two Extensive OperatOrs
Followed by Smaller Dealers,
and the Result Was q Fair De-
gree of Activity-NavaI Victory
IN the Orient Discounted by Wall
street-MOney Market Easier.

NEW YORK, April 28.-The stock market
was quite active and animated today COM
pared with the lethargy and sluggishness of
Yesterday. The days business was not by
any means large, and there were prolonged
periods of dullness between the spurts of
activity. There was no outside interest in
the market of any. Importance and the buy
ing was due to the initiative of one or two
prominent operators, who distributed orders
with liberal hand all through the active
list.
less following among the small room trad
ers. The buying was based on the confident
assumption that the approaching naval en-
gagement off the Philippines would result
operators expressed themselves as confident
that such victory would be "good for S
point rise in the active stocks"
The slight declines at the opening, due to
the heaviness of the London market, and
which did not at any time fall to the Lon
don parity were quickly overcome. The ex-
cellent traffic statements Of the granger
roads the St. Paul statement of yesterday
being supplemented by the Burlington's today,
were also factors in the strength. The grang-
ers were conspicuous in the trading, and led
the advance in the railroad list.
No doubt the distinctly easier tone in the
the awakening of the speculative spirit. The
friendly consultation yesterday between the
secretary OF the treasury and number of
prominent fnanciers found its reflection today
the United States treasury could be met
without inconvenience to the money mar
ket. Call money was quite abundant today,
and loans were made as low as 1k per cent.
Rates for time loans were Quotably lower at
from b1a to per cent for all periods. 1t
Is significant also of future prospects in the
money market that lenders hold out for long
periods at existing rates, while borrowers
want money for not more than sixty days.
In spite of easier conditions in money, for
eign exchange yielded fraction today The
keen demand abroad for foodstuffs is making
exchange all the time, and the prospects
Of the foreign money markets point to high
er discount rate. The demand for exchange
by the government to pay for war material
has also ceased. Shipments of money con-
tinued to the interior, but in small volume.
ship, and that is not what is wanted. In
Boston currency has commanded a nominal
premium.
There was some increase of activity in the
bond market but 1t was confined almost en-
tirely to the speculative issues, which showed
higher prices in sympathy with stocks. Total
sales, $1025, 900. United States new As reg
istered advanced w. and the old As registered
Il, while the new As coupon declined * in
the bid price. Others were unchanged.
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 trade:
Total sales of stocks today were It's, 100
shares, including: Burlington, 1875; L. &
N, 1885, Metropolitan, 1906; N. Y. Central,
1886; Northern Pacific, 3115 Northern Pa
cific preferred, 10172; Rock Island, 7,765; St.
Paul %, TAO; Union Pacific preferred, 19,359
Tobacco, 1862; Peoples Gas, 3,142; Sugar, As,
800