The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-02-16
SHARP RALLY IN STOCKS
SHORT LINES PUT OUT IN MON
DAYS FURRY COVERED
The Losses of the Previous Day Re-
covered in Most Cases in Spite of
Light Volume of Business
American Issues Favorites on the
London Exchange

NEW YORK, Feb. 15.-Today's sharp rally
IN stocks Is to be attributed to the covering
OF snort contracts put out in yesterday s
hurry: Buying was said to be heavy for
washington account, which was a heavy SELL
Ter yesterday. Yesterdays losses were more
than recovered in most cases, notwithstand-
Ing smaller volume of business today. There
was at least one period of general reaction
during the day but it was of short dura-
ton and declines reached small proportions.
There was also prof1t-taking in few special
stocks which did not affect the general list
to noticeable degree.
American securities continued to be favor
ties on the London stock exchange, where
prices OF Americans were marked up with
distinctly confident tone before the open
ing here, and London continued a buyer here
even after prices had advanced to the London
parity. Much stress was laid this as In
dicating a definite change in the attitude of
the british investing public toward American
securities They were persistent sellers of
americans during all Of last summer, and
through the subsequent rise which has been
almost continuous since November They
are now buying American stocks at prices
many points above where they sold This
buying is regarded the more significant on
DON as compared with New York, and the
balance Of exchange still known to be out
standing in favor of this country.
In Paris Spanish As declined on fears of
strained relations between the United States
ana Spain, and American securities declined
9n some or the continental exchanges; but
London needed none of these considerations,
ana continued buying at advanced prices
foreign exchange begins to reflect this buy
ing, and demand sterling today declined Il
ana cable transfers the same amount.
,Merolopltan Street railway showed a con-
unuance of yesterdays weakness after an
carry period of strength, and dropped points.
IL subsequently rallied but closed the dsv
with sharp loss Other local securities
were strong Minnesota Iron was conspicu-
ousiy heavy, and Lake Shore ruled below
laSt nights prices.
mere were few losses shown bv consnicu
Gus stocks, but the general level of nrices ar
me crosse was very materially higher The
minneapolis q ST. Louis stocks were strong
on reports of a circular issued to stockhoId7
ers asking an option on the stock with q
view 10 a purchase OF control New Jersey
Cehtral was benefited by rumors that connect
ca IL with trunk line working agreement
Kansas Texas preferred showed a sharn
recovery from yesterdays losses In the ac
tive list net gains of between 1 and 2 points
Tor the day were frequent
The strength and activity in bonus increas
ed as the day passed Business in Texas Pa
enc IDS was largely individual transactions
IN heavy blocks at an advance of a Doint
lotai sales $4360,00O United States old As.
regular, the new regular and the rs were Il
higher bid and the new is coupon u higher
Inc total sales of stocks today were 81 700
shares, including: 5.575 Atchison preferred /;
S9'uO burlington; $3.50 L. & N. TO- 43O Man
haitian; II 900 Metropolitan: Q 600 NinneanoIis
q st. Louis; 1856 k & T preferred: rs $40 n
Y. C.; 4,455 Northern Pacific; II. 625 Northern
Pacific preferred; 3,1GO Oregon Short Line:
4,940 X. l., 14,270 St Paul; 5000 Texas &
Pacific; 6221 Union Pacific: 954S Tobacco
$3.50 Peoples Gas; S,769 Consolidated Gas; TO-,
o55 Sugar; IN Rubber; 1887 Rubber pre-
ferred; 1O.197 Western Union.
The following were the fluctuations of the
Ieadlng railway and industrial shares. fur
nlshed by G. H. F. Smith & Co., members
New tr York stock exchange and Chicago board