The Saint Paul globe., 1898-09-15
The Stock Markets.

a.
YAH money New e. ti'o YORK s.'...,...,... 2k
NEW YORK, Sept 14-The unsettled tone
u ine speculative mind over the money
nIdIkeL outlook was relieved TODAY bv the
announcement of further gold imports Act
onn uai engagements were announced of 81 600 =
SvV; Sjt; ana rumors were rife of very heavy ad-
Gitlohal sums, which are to come this waeL
Rates for call loans on the exchange hroTe
Sharply to 212 per cent from a high point in
naT rmT morning nat on small transactions of Az
9ero1os per Gent; very active buying movement
ueVeloped which was in large part from
Rroless.onal traders who had gone short of
Tue Market on conviction that money
na1eS nait would would hold firm for a time, and that
can can money would be subject to occasional
Hurrles from the calling of loans that
MO- Moulu snake out large LIQUIDATION Of stocks.
Inc course of the exchange market gave
warning early in the day that relief was at
hand for the money market in the form of
gold imports. Posted rates were marked
Gow1 9o Bc, and actual rates fell Nc, the price
Tor demand sterling reaching S484 which is
easily within the gold import point
Ihe market during the earlier part of the
DAY was largely confined to specialties. Su-
ga eSI; ~ doDacco and the constituent companies
markedly weak. The railroads rallied early
IN the day. but We're weakened by the de-
claHe IN the specialties They offered strong
resistance to decline, however, and advanced
easily and quickly all through the list after
l4uuay' Inc local traction stocks incIud-
ing Brooklyn Rapid Transit, Manhattan and
1
The industrial specialties recovered nearIv
all their losses In the afternoon on cover
ing by shorts Sugar was an exception. This
STOCK Sent Gnened on 21A, allowing for the per
period OF the general strength in the market
when the stock rallied but in the late
deadnn; ddeamngs teli an extreme a. There was very
determined support at and below 1877. and the
pears deslsted from their attack. This gave
tlme Tor the general market to rally again
10 ABOUT the best. the closing being active
nat oiy1,
over IN many stocks. The grangers and
Paclhcs were conspicuous in the railway LIST
Inc erect of the easy money market was
In large part sentimental as the stock mar
ket depression has been due to apprehension
OF future stringency, rather than to actual
conditions. The conviction had gained force
10 tor several days that the scarcity of money
is apparent rather than real, and the facts
that the payments on the government loan
are almost completed gives assurance of
early relief from the drain on that account
Ihe government disbursements in the form
OF expenditures and the distribution of the
rev ponds are certain TO result in q plenti-
f fml supply of money at an early day.
There was a growth of demand for bonds
and prices rallied in sympathy with stocks in
the latter part of the day. Total sales were
S2SoO, Geo; United States as. when Issued
large transactions in the 3s at 105h to 1855.
the latter being the last price.
Total sales of stocks today, 499, 100 shares.
$3.50 L. & N. 27,2O8 Manhattan, s'ss2 Metro, W,
politan, g. 410 M. P, 8,008 New York Central
3065O N. P, II. $50 r. l., II, 800 U. p. SS 245
St. Paul, $685. Southern, 5000 Southern pfd
1850 U: P. ,pfd, 10000 Minnesota Iron, S,278
Oil, 29.S28 Tobacco, $3.50 G. G. W.. II. $50
Peoples Gas, 3,34O Steel, 97,49S Sugar, S,415
Rubber.
The following were the fluctuations of the
leading railway and indsutrial shares, fur
nished by c. H. b. Smith & Co., members
Of the New York stock exchange and Chicago
board of trade: o. ar
croCLyC