The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-07
MATED, WITH ONLY INSIG-
NIFICANT REACTIONS.
NOTABLE GAINS ACHIEVED.
NET ADVANCES OF FROM ONE TO
TWO POINTS FOR ACTIVE
ISSUES.
SOME SUGGESTION OF REALIZING.
Offerings All Well Absorbed and the
Close Was Only Slightly
Below the Best.

NEW YORK, Jan. 6.-Today's stock mar
ket was broad, animated and strong through
out and gains were maintained with only in
significant reactions at a few intervals. The
buying was on & very large scale and was
aggressive and confident. number of
prominent operators were in the movement and
their combined takings made up a large share
OF the total transactions of the day. But
there was manifest an outside interest in
the market which was awakened by yester-
days strength and the commission house
business was on fairly large SCALE The
investment demand for safe dividend paying
stocks and the heavy buying OF bonds were
also evidences Of an infusion of new life into
the market. 1t is likely that these dealings
were due to the large amounts made avail
able for investment by the January dividend
and interest disbursements. Most of the deal
ings were professional, nevertheless, and
they seemed to have been melted by the
very confident expressions of one Of the larg
est and most dashing operators in the mar
ket, who was In large part the leader Of last
summers rise. Some Of the most notable
gains were achieved early in the day and
were quite firmly held throughout even in
the face Of very large transactions. There
was suggestion of realizing, but all offerings
were well absorbed. The closing was only
slightly below the best and showed net gains
L
stocks.
Prices for American securities were good
in London and in Europe today, and gave
an impetus to the rise at the opening here
the internationas being the first to advance
The next to feel the movement were the Van
derbilts, New York Central being con-
spicuous for large buying and an extreme
advance Of points. There was report cir
culated that the active managers of these
properties had been sharply admonished by
the controlling interests that their hold on
their positions would be made dependent on
rates for traffic being maintained on their
lines. Reports on the settlement of differ
ences on the rates from the West also helped
on the rise. The coalers all enjoyed marked
gains on the reports Of increased business
and better prices. Continued strength in
Sugar also helped to sustain the market.
Money showed the first decisive tendency
towards easier rates today, and while most
loans were made at 312 per cent the rate
yielded to per cent and closed at that.
There was better demand reported also for
commercial paper, though not sufficient to
cause yielding of the rate, which continued
at 312Q4 per cent for choice grades. There
was some outstanding short interest in the
market and the covering of this helped on the
rise.
The bond market was even more active and
stronger than stocks, and some notable gains
were scored There were two transactions
OF $lOO,Cc0 par value, one in Brooklyn Transit
5s and the other in Wabash lists. CONNER
cial Gable As gained 5; Susquehanna & West
ern general IS, "a; Missouri Pacific collateral
trust So. 2, and Mobile & Ohio As, IA. Total
sales, $5,090,000. Government bonds were Il
higher all around.
Total sales of stocks today were 3S9 600
shares, including: Atchison pfd, 1856; c.
& o. 4,211; Burlington, &c, 01O; L. & N, 1850;
Manhattan, 22,500; Metropolitan $3.50; Mis-
souri, Pacific, $3.50; N. ]. Central, 665; N. Y.
Central, i, 725; Northern Pacific, 1870; North
ern Pacific pfd, q, 2S2; Ontario & Western,
1856; Reading u, 320; Rock Island 92O5; st.
Paul, &c 095 Southern pfd, 3,21S; Union Pa
cifc, 4,425; Chicago G. W., $3.50; Peoples
Gas, $50; Laclede Gas, 4,116; Sugar, Al $50;
Western Union Asp.
The following were the fluctuations of the
leading railway and Industrial shares fur
nished by G. H. F. Smith Co., members
New York stock exchange and Chicago board