The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-29
ONLY ONE OF THE RECENT SPEC
ULATIVE FAVORITEs TO HOLD
ITS OWN.
THE BULL EFFORTS DIVIDED.
STRUGGLE TO TAKE QUE PROFITS
AND SUPPORT THE LIST
AS WELL.
Declines Not Sufficient to Uncover
Any Amount of Stop Loss
Orders-Bonds Active.

NEW YORK, Jan. 2S.-Todays stock mar
ket showed signs of a struggle by the bulls
to sustain prices, while they were taking their
profits. They were moderately successful,
and sold large blocks of the stock which have
been recent speculative favorites without pro-
ducing any marked decline elsewhere in the
list. Northern Pacific pfd is the only one
of the recent favorites which showed net
gain for today, but the declines in the others
were not sufficient to uncover any large
number of stop loss orders. The sharp gains
In special stock at different times during the
day was evidently due to manipulation for the
purpose Of sustaining the general market.
This, together with the higher range of
prices reported from London this morning
kept stocks well above last nights level
during the early part of the day, but the
closing showed an easy tone with prices
generally at the lowest. New York Central
was conspicuous under realizing pressure
after the opening, and closed ~ lower than
the days high point Kansas & Texas pfd
showed an extreme decline Of IL and Rock
Island one of a full point. Heaviness of the
granger group was an additional factor in
the decline, the December statements of ST.
Paul and Burlington, with the small increase
shown in net earnings, having an unfavorable
influence on the general list
London sold, on balance in this market
several thousand shares of stock, especially
of New York Central. This added to the
heavy tone to quite a marked extent Still
another factor on the side Of the reactionists
was the weakness in the anthracite group,
declines in some of its members reaching
a point The local New York group added
the weight Of its weakness to the burden of
the bulls. The sudden spurts of strength
shown by Northwest, Louisville Denver pfd
and few other stocks, proved unavailing
to counteract the general lower tendency.
Exchange hardened for demand in response
to London's continued selling of stocks here
The announcement of the withdrawal of f10,010
in gold from the Bank of England for ship
ment to the United States was without any
effect here. Reports from London during the
earlier dealings here showed prices for
Americans higher, and the market quite &C
tive, the speech of the president last night
being assigned as the cause The anticipa-
ton of this speech has been used for several
days by the bulls in Wall street. and the
realsing today after it's delivery was in its
accordance with the usual practice of pro-
fessional traders.
The business in the bond market ontinued
on remarkably heavy scale and prices gen.
orally are higher. There were single trans
ACTIONS in par values of $4,000, and Sc, 600
$125,OC0 of Atchison adjusted fours, and of
100000 Of Erie prior tours. Total sales, S.
10000 U. S; old fours reg were q higher
Diu, TIE new lOuiS "A nlSner DID, ana the old
tours coup and the fves Is higher.
Total sales of stocks today were 473, 900
shares, including: 14O19, Atchison pfd 3,79
G. O.; 1896, Burlington; 1884, c., c., C.
& st. L.; $40 Denver &c Rio Grande pfd ;
4,O7S, Erie p1d; II, 1872 L. & N; 1920, Man
haitian; $3.50, Reading pfd; 1870, Missouri
Pacific; 1850 NJ, K. & T. pfd; 1888, N. Y
c.; 25,345 Northern Pacific; 40 531 do pfd;
3o,S28, Rock Island; 1850 st. Paul; 1850,
st. Paul & Omaha 4046, Southern pfd; g.
81, Union Pacific; 5,215, Tobacco; Il, 0JO Chi
cago Great Western; 10,005 Peoples Gas;
1924, General Electric; 246S7, Sugar; 1850,
Western Union.
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 trnda