The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-03-17
SUBSTANTIAL NET GAINS
STOCK PRICES RESISTED LATE
PRESSURE FOR A DECLINE
supply of Shares Was Not Large
and Prices Moved Easily Upward
The High Level Not Seriously
Impaired-Heavy Additional En-
gaYements of Gold for Import,

NEW YORK, March 16.-The early strength
In today's stock market was a repetition of
Yesterdays movement, but prices resisted
the late pressure for decline, and, as con-
sequence, show substantial net gains all
through the list The bulls had the advan-
tage also Of higher prices on the London ex-
change, and although prices Immediately rose
Duoyantly above the London parity, there was
conspicuous buying for London as late as
business was done in the British capital.
London buying was due to a feeling at that
center that there is more promising prospect
as to affairs between the United States and
Spain. This feeling was shown also in the
quiet buoyant tone for the Spanish As, which
rose IN In London and IL in Paris. There
was undoubtedly feeling in New York also
that the outlook was more peaceful, and such
or the days developments as had q more
threatening aspect were ignored Either the
spanish governments semi-oficial announce
ment OF It's opinion on the maintenance by
the United States Of the fleet in Florida wa
ters or the news that official attention had
been called to this opinion by the Spanish
government, would have been sufficient to de-
moralize the market a week ago. But the
underlying conviction in Wall street is that
the authorities at Washington have come to
indulge a hope of a peaceful settlement. The
continued preparations for defense and such
incidents as those of today do not wholly dis
sipate this conviction. Nevertheless, opera
tions are not on large scale pending a def
mite decision Of the Cuban problem.
The supply of stocks was not large today
and prices moved easily upward without any
heavy transactions part Of the buying was
attributed to large bull interests, but much Of
1t also was supposed to be the covering Of
the short selling, which caused the late de-
cline yesterday. The bears were apparently
averse to renewing their attempt today and
the high level of prices was not seriously i'm
paired.
The hope of a successful adjustment of the
traffic rate controversy in the Northwest was
quite an important factor in the advance
here and In London for Americans. The local
and industrial specialties led today's advance
but the grangers, Northwesterns and interna-
tionals in the railway list were also conspic-
uously strong.
Heavy additional engagements of gold for
import were made today without affecting
the steadiness of the exchange market below
ment from Europe on this movement has
now reached 1924, 900, 000 and 1t shows no sign
of subsiding in spite of the growing tightness
of money in London and in European centers
supposed to have been somewhat reduced, but
there is undoubtedly a large supply still re-
naming and the continued heavy outward
movement of merchandise is constantly
sold against gold import as fast as they come
forward.
Bonds were strong throughout in sympathy
with stocks. Total sales -$1,S3O,OOO. U. S.
new As, the IS and the old As, coupon, each
advanced " bid today.
Total sales of stocks today were 972,90O
shares including: 5000 Atchson, AZ 800 Bur-
lington, 1856 L. & N, q, 1876 Manhattan, 10
800 Metropolitan. 4,645 Missouri Pacific, 1920
N Y c., 1920 Northern Pacific, q, 305 do pre-
ferred, 1880 Rock Island, 4O.6SO St. Paul,
1920 Union Pacific, 32,434 Tobacco, $500 Peo-
pies Cas- 34,616 Sugar, 1920 Western Union.
The following were the fluctuations of the
leading railway and industrial shares t tur-
New York stock exchange and Chicago board
of trade: