The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-08-31
active; steady to shade higher; selling, So. 50
QS.Hh; bulk, S3.65@3.70.
The Stock Markets.


NEW YORK, Aug. 30-The bears attempt
ca to continue their campaign against prices
OF STOCKS today. Their efforts were at one
LINE blae attended with moderate success, but
pe1ore the days session had ended they found
themselves under the pressure of advance
Ing prices. and they were obliged themselves
to contribute to the advance by buying to
elements of the situation in their favor There
was continued frmness in the rates for
money and continued loss by the banks to
me s1,o. subtreasury to pay for government bond
money squeeze at a later period. There
was also some evidence that the opening adj
vance In prices was manipulated to afford
opportunity for profit taking, this giving en-
couragement to the bears. During the first
hour, acute depression developed in the coal
ers on account Of the report from Philadel-
Phla that tidewater prices for anthracite had
been cut 25c. and that the companies had
abandoned the effort to control the trade
ms IN season. Losses In the group extended to
some OF the specialties broke the whole mar
ket to prices materially below last nights
level. The Burlington statement for June,
showing the small earnings increase wiped
out more than five times by the increasing
operating expenses, was used by the bears
although the St. Paul statement showing an
actual falling off In July in gross earnings
has long been oounteracted by the increased
earnings showed by the August traffic re-
turns. Burlington's detailed statement also
showed that while freight earnings decreased
there was an increase of over $107, 600 in the
passenger earnings, rejecting the improve
ment In general business and the more prosp-
eerous conditions. Nevertheless Burlington
Jagged in the late recovery. There was evil
dence of powerful support in many stocks at
a. Level silgntly below Yesterdays prices, and
mere was large general buying also invited
by any decline. Evidence Of this Influenced
the recovery.
Buying for London account, which held
number Of international favorites Arm near
FORMED lfTpntiVa nf
sistance. There were authoritative denials
later in the day on behalf of the officials of
inc coalers of an extensive price cutting.
Further weakening of exchange gave promise
OF early gold imports though the reported
buying of gold in London for New York &C
count was not confirmed.
There was some growth of confidence that
ughtness In the money market would soon
be relieved by the early distribution of
t wiI, new savu government g. This distribution
New York banks to interior banks for pay
1hent OF Subscriptions to the bonds. All
soees factors od tended to the in
ll caused only fractional reaction of
the general list which closed at net gains
IN c1 nearly all cases.
act acted early in sympathy with stocks.
but they generally recovered before the close
Total Total sales. 1906; ooO. U. s. IS when issued
bonds were otherwise unchanged.
Total sales stock today, 453, 500 shares, In
Guiding: Atchison pfd. 1875; C. & O., &, 125;
o., b: & O., 16, $50; Manhattan, 81, $40; Read
ing pfd, 5770 Missouri Pacific, 416O; North
ern Pacific. 2.250: Northern Pacific pfd, H.
40; Ontario & Western, 1920; Rock Island,
II, 225; st. Paul. 32,570; Southern Pacific,
6, 1o6: Texas Pacific, 1920; Union Pacific pfd,
"a 4s7; Wabash pfd, 1900; Minnesota Iron,
:, 192; international Paper, 1890; Cotton Oil,
3, 130; Tobacco, $3.50; Chicago G. W., $3.50;
Peoples Gas, 1885; General Electric 1884;
Sugar, 45.17S; T. G. & l., 4,O47; Leather pfd
4, 720; Rubber, 4,110
The following were the fluctuations aof the
leading railway and industrial shares, fur
nished by G. H. T. Smith & Co., members
of the New York stock exchange and Chicago
board of trade. Closing are bid prices: