The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-02-05
VANDERBILTS WENT UP
CENTER OF THE STAGE HELD BY
THE STOCKS OF THE GROUP
of New York Central and Lake
Shore, Though Discounted, Infiu-
enced Prices-Great Northern a
Trife Off-Net Gains the Rule.

NEW YORK, Feb. 4.-The remarkable buoy
ancy of few special stocks lifted today's
STOCK market out OF q slough OF depression
and closed the day with net gains the rule,
though there were few losses in exceptional
cases. Net changes were small in the general
list, but the gains in the little group Of lead
ers were extraordinary.
The Erie stocks showed the effects Of some
unusual demand at the opening Of the mar
ket, and the first preferred ended with gain
of over cents. Connected in some way with
this was the movement in Susquehanna &
Western, which gained in force as the day
advanced, the preferred showing a gain of
points on the last transactions, the common
stock Of SA. There was nothing in the news
Of the day to explain those movements.
The Vanderbilt stoks held the center OF the
stage on account of the action of the New
issue Of s1O0, 600 collateral Sl9 per cent
bonds to effect consolidation with the Lake
Shore. The formulated plan closely agrees
with the announcements which have been
made. quotation for the new bonds when
issued promptly established on the ex-
change, IS being bid and 81 asked. The price
wavered somewhat in the face of profit TAX
ing on the announcement which has been
amply discounted. But Michigan Central
bounded up buoyantly over points on the be-
lief that it would ultimately be included in
the consolidation in progress Canada South
ern also benefited to the extent of over a
point.
Norfolk & Western preferred is up about 2
points, and was bought largely in this mar
ket today for London account. This stock
was affected by the reported authority granted
10 1t to construct branch through Virginia
to Washington, and by the general improve
ment in it's financial condition.
Great Northern preferred advanced an ad-
ditional point this morning, but reacted then
points to 100, and at the close was quoted
at 155 bid and 159 asked. Manitoba the sub
sidiary company, jumped points, to 1875. The
late strength of the market brought gains in
tho general list up to about a point and re-
duced or wiped out losses in number of
stocks that had shown early heaviness, not
ably Manhattan, B. & o. and Union Pacific
preferred.
feature of the day was the continued ad-
vance in foreign exchange, based on the easy
tone of the money market.
There was no very noticeable falling off
in the activity of the bond market. No very
important gains were shown, but prices were
firmly held. Total sales, s, $50, 0O0 United
states new As were up u bid.
Total sales of stocks today 294 200 shares
including 9,315 B. & O., 1925 Canadian Pa
cihc, $685. c. o., 1886 Burlington, 3415 D.
q r. G., 10, 831 Erie preferrd BAL Lake Shore
5,s20 l.. & N, 13, 962 Manhattan, 6,477 Michigan
Central, 4,370 Reading preferred $3.50 Mis-
souri, Pacific, IA. 405 N. Y c., 5,1O6 Northern
PACIFIC, q, 495 Northern Pacific preferred,
1887 Rock Island, 13 4S1 st. Paul 20 335 Union
Paclt1c, $3.50 Tobacco, 1864 General Electric
$500 Pacific Mall 1856 Sugar, 6,30S Western
Union.
The following were the fluctuations of the
leading railway and Industrial shares fur
nlshed by G. H. F. Smith & Co., members
New York stock exchange and Chicago board
of