The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-21
The Stock Karhets,

NEW YORK, Oct. 2O.-Considering the
apathy and Indifference which have recently
been manifested on the stock exchange the
resistance made today to the depressing in
fuence existing one all foreign security mar
ketS was here rather remarkable. Opening
prices refused to yield to a parity to those
established in London for Americans, but
oEening and rather heavy offerings for Lon
don were easily absorbed at q level sufficiently
high to make a very aice profit for the ar
bltrage brokers. After the London sellicg
had subsidized in the forenoon the market
took on hardening tendency and broade1ed
out to very considerable extent. Prices for
the grangers and other railroad stocks, in
Guiding some in the list OF those dealt in on
level. or at the least retrieved the earlier
losses. Many recentlyR inactive stocks were
brought into the movement, and there was
a resumption of the buying in small lots OF
some Of tie Wefl-sscured diyidend-paying
stocks. The explanation OF this lay in The
fact that what is Europe's poison is to
certain extent our meat. The striking evil
dence of this was disclosed in the grain and
provision markets, which were ali excited
and higher on the ee ger competition for our
products reflected from all European mar
kes, as result Of the fears of coming hos
tilties between Great Britain and France.
With a wheat crop Of unprecedented proper
tons to move, this demand was bound to
have an influence on the grain carrying
reads In former times threat CT war In
Europe has brought with It the dread that
the large foreign holdings OF American Sc
cuTites would be forced to liquidation on the
New York markets The indifferent mood in
which this possibility viewed today is
q striking proof OF the large reduction which
has been worked in the foreign holding of
our securities as payment Tor last years
large trade balance in our favor. The trade
balance and the continued movement in our
favor are also the ground of the Indifference
of the money market abroad. European gov
eminent securities declined a sharp fraction
ard money rates advanced In sympathy at
all European en- ers. Yet The only ct in
the New York market was to harden the
rates for foreign exchange fraction. As
for the local money market not a ripple was
caused and rates for call money actually =
clined to ~ against the recent minimum
of 2, with a range up to 21a. The strength
of this country financial position could net
be more stfikingly illustrated. Sugar fourd
support at a moderate decline and Tobacco
firm all day.
The market for bonds WIS not active, but
prices were we'll held. Total sales 81, rs 900.
L. S. rs declined Il, the 5s coup Ii, and tie
old IS reg, the new As and the 5s reg Is il
the bid price.
Total sales of stocks today were 175 600
shares, including Atchison d 7,343; c. B. O.,
&, 728: L. & N, 3,765; Man, 30330; Met. St.
Ry. $3.50; North American company, $500; N.
P. 1915; do pfd, 449S; U. P. 1850; 81. Paul,
1882; L. P. pfd, 1850: U. P. D. & G, 4,6c0;
Tobacco, u, 100; Sugar, 1850.
STOCKS.
The following were the fluctuations of the
leading railway and industrial shares, fur
nished by c. H F. Smith & Co., members CT
the New York stock exchange and Chicago
bUard of trade: II