The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-11-23
The Stock Markets.

NEW YORK, Nov. 22.-Prices were sharply
advanced at the opening today, and for
number OF stocks closed near the best. But
the market in the meantime went through a
period OF depression and the bulk of the
days business was done below the bsst prices
ana IN some very prominent stocks below
emphasized by the discovery Of the spurious
character Of yesterdays report of Senior Mon
tero Rios refusal to proceed with the peace
negotiations at Paris. The bears who sold
short yesterday this morning fastened to
cover, and there were besides a large num-
Der OF orders in the commission houses from
outside. Atchtson preferred, B. & o., Dem
yer & Rio Grande pfd, and Norfolk & West
ern pfd, were up about a point, and Federal
Steel, Manhattan, Tobacco and Peoples Gas
rose from 1 to 1%c. This sharp advance in
price invited realizing On a very large scale,
and there was in addition renewed heaviness
IN the Northwestern railroad properties ON
revived reports of an embittered war in pros
pect between Northern Pacific and Oregon
Navigation and Its extensive allied interests.
There was a slackening up also in the adj
vance in the grangers, probably on account
OF the prevailing storm in the West. Very
marked weakness developed in the Federal
Steel stocks, the preferred stock dropping off
212 per cent The reputed ground for this
weakness Is the alleged unwilling ess the
part of some financial institutions to accept
these newly foated securities as collateral.
There was a yecy marked failing of in the
equally conspicuous movement in Atchison
securities after the heayiness in the general
market developed in marked degree. These
several points of weakness appealed for sup
port to some of the most powerful interes s
at this financial center and support was forth
coming in quite a vigorous manner towards
the close Of the day. The rise il Northern Pa
ctic was attributed to the large banking in
terest which exercises the dominant control
in tie property. 1t was regarded as signi-
hcant that the stocks Of other companies in
which the same interest has been dominant
In reorganization or forma ion were advanced
simultaneously with Northern Pacific Such
stocks were Southern pfd which rose to ex-
IRENE IA; the Reading stocks, the Erie
stocks and Federal Steel stocks 1t was the
inside support ard manipula ion 10 this stock
and Federal Steel which rallied the market.
incidentally there was a recovery of 2l2
points in Delaware & Hudson, and OF nearly
six points in Chicago & Alton.
New York bank clearances ran up today
to over 1920. 900, 600. This activity in the
local money market the slight disparity in
the London rate hardened today and the fail
ure Of the private discount market in Berlin
to fully respond to the advance in the bank
rate there, led to an easier tone IN the ex-
change markets today. Actual rates for
sterling were shaded and posted rates were
reduced nc.
The bond market also showed decided ac-
tivity today and prices yielded at some points,
while advancing in others. Total sales. $4.
go 600. United States Is and IS registered
advanced y, while the threes and fCurs regis
tered declined u in the bid price.
Total sales of stocks today were sos. 800
shares including: Atchison, II ,44O, do pfd
6S, 404; B. & o. 7,410 Burlington, II 40; d.
& R. G.. pfd, $3.50; L. & y, 1856; Man, 30.
705; n. Y. c., 1855; Northern Pacific, As
235 do pfd, S,621; Northwestern, 3,045; Rock
Island, 1880; Union Pacific. 1875; do pfd
1911; st. Paul. II. $50; Southern Ry, 16 $50:
do pfd 1852; Texas and Pacific, $3.50; U. P.
pfd. 1911; Wabash pfd $3.50; Paper. $3.50
Tobacco, $500; Federal Steel, $685. do pfd
22,941; Peoples Gas, 16725; Pacific Mail,
400; Sugar, 20s94; Western Union, $685.
Chicago Great Western, 1923.
STOCKS.
The following were the fluctuations of the
leading railway and industrial shares, fur
nished by c. ii. f. Smith & Co.. members of
the New York stock exchange and Chicago
board of trade: