The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-11-01
The Stock Markets.

NEW YORK, Oct. 31.-Some obvious effort
was required to sustain prices today above
the level of Saturday and the midday rise
was not maintained to the c,ose prices in
some cases declining below Saturdays level
AN inspection of the list will reveal that
Outsloe CT very few cases net changes are
unlmLortant. Some observers believe that
such strength as the market has Is due TO the
support or very powerful aggregations OF cap
ltal, which are in the interest of high prices
Tor new securities. Quite q large proportion
OF the total business today was in Tobacco
the price of which was rushed up seven
P points to l4S%. Another large proportion Of
business was taken up by the Federal Steel
securities, the preferred stock rising nearly
Two points, to 75A. The steel stocks are
deait IN when issued,P which is the stock
yet come into existence. There are to be
$2G0, O09OO0 of the Federal Steel stocks.
lhefe are to be 500, 600 coo of securities OF
tie new Continental Plug Tobacco, an annex
OF the American Tobacco company. AS these
securities are in process Of foa alton, the i'm
portance of sustaining values in the general
list Tor their benefit is 7undeniaibie. The task
or doing this today was not an easy one
ard in the late dealings with selling of
Northern Pacific on a large scale, and talk
or fresh complications in connection with
that roads relation with other roads. the
burden apparently became too heavy and
pretty much all the earlier gains were W.pcd
out. Tobacco and FedsIal Steel were con-
spicuous exceptions. There were other poir is
",
particularly amongst the Western and South
ern railroads. St. Paul's September state
ment showing an increase in net earnings OF
$2SS, S31 in spite of large additional outlay for
operating exreLs,s served to counterfeit the
erect OF Burling ton's poor showing publish
ed Saturday. There were strong statements
also from Denver and Rio Grande and Ches-
apeake and Ohio, while in the Erie state
ment the decline in gross earnings was Offset
by economies in the operating department,
leaving an increase in the net earnings of
nearly $4,000. But there was no general
public interest In the market, and some az
tention was paid to the large naval ar d m IL
tary preparations making in Great Britain.
The weakness of-thei wheat market, early in
the day, on the big, Russian shipments was
demand for money Is not regarded as favor
able indication, now that there are abundant
funds In the market.
Tctai sales stocks today g. 441e0 shares in
Guiding: Atchison pfd 1850; Burlington,
14,257; L. & N, 12,910; Manitoba, $500; Nor h.
ern Pacific, 1850; Rock Island, GAO; St.
Paul, g. $50; Southern p'd, 81 6; Cot on o.,
1875; Tobacco, $3.50; ederal S.eal 2l,t15;
Federal Steel pfd. 80 7S7; Peoples Gas, {. lis;
Sugar, 27,12O; Tennessee Goa, 14,S15; G. G.
W, Abs. q
There was continued activity in the bond
market the speculative and reorganization
900 600. Government bonds were unchanged.
STOCKS.
The following were the fluctuations of the
leading railway and Industrial shares, fur
nished by C. H. F. Smith & Co., members
New York stock exchange and Chicago board
of trade. Closing are bid prices: