The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-02-19
STOCK TONE UNCERTAIN
SUGAR AND THE CHANGERS WERE
THE TWO CENTERs OF INTEREST
A Slump in Local speciaIties the
Decisive Factor That Turned the
Scale to Net Losses for the Gem
eral List-LondOn q Seller of the
InternGtionaIs.

NEW YORK, Feb. 1S-The tone of specula-
ton was doubtful and hestating in Wall
street today, and large preponderance Of the
days dealings were in Sugar and the
transactions were in these stocks. Coupled
with the fact that the total sales of stocks
showed a marked decrease from the recent
average, the large proportion absorbed by
these Specialties formed a significant COM
mentary upon the condition in which the
market has fallen.
After opening weakness, due to sympathy
with London and some other foreign ex-
changes had been overcome, it looked as
though the strength radiating from the
grangers had prevailed in the market, but
the increasing weakness of Sugar, coupled
with fall in the price of local New York
specialties in the final hour, was a decisive
factor in driving prices below last nights
level. The radical utterances made in the
course of the debate precipitated in the SEN
ate on the Maine disaster also engendered
distrust in the minds of spectators and
prompted LIQUIDATION.
Business on the decline was by far the
most animated of any during the day The
grangers were largely influenced by the con-
d1tions in the wheat market, but there were
also special causes at work in their behalf
Gossip was rife to the probable action of
st. Paul directors the dividend rate, the
rumors all pointing tS an increase. The alb
sorption of this stock Vas credited to a pow
erful financial interest which was said to be
selling out its holding of Sugar at the same
time. London supplied st. Paul freely, and
SOLO other 1nternat1onalS here.
Rock Island responded to the action CT the
directors in calling the debenture and
tension bonds, thus assuring the stock the
benefit of an early reduction of fixed charges.
The Union Pacific, Denver G. Gulf securities
were strong rumors that the reorganiza-
ton in prospect would bear easily on them.
Adams Express was an instance Of strength,
selling at 11S1k, an advance, of az as
against a sale at par on Tuesday. ex-divi-
dend and ex-10O per cent in bonds represent
ing the distribution Of the surplus.
The bond market held firm except that
some of the speculative issues yielding in the
late dealings. There were very heavy indi-
vidual transactions in the Union Pacific As
the Texas & Pacific seconds, and Rock Island
extension IS. Total sales 81 500 000 U. S. As
old coupon were 4 higher bid and the old
As registered, and new As and the 5s Il higher
bid.
Total sales of stocks today were 351, 800
shares, including: Atchison pfd, 1857; Cana
dian Pacific, 800; Burlington, 1881: Lake
Shore, 1888; L. & N, 1920 Manhattan, 1924 ;
Metropolitan, 6, 445; New York Central, 61S0;
North American, 3001 Northern Pacific 3615
Northern Pacific pfd, 1850; Rock Island g.,
$50; st. Paul 81, lis; Union Pacific, 1881: Den
yer & Gulf, 1890; Tobacco, 4102; Peoples
Cas- 3545; Consumers Gas, 1870; General
Electric 1905; Sugar, S7,714.
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
of trade: