The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-09-07
The Stock Markets.


NEW YORK, Sept 6.-Today's stock mar
net was variable and irregular at all times,
, pus was more or less under the contingent
n tten th OF the shrinking surplus reserves
OF the banks and the sitter rates for money
general application was almost at a stand
S sun ana the movement Of the market was
confined largely to special stocks the trading
being highly professional throughout
me opening was higher, in sympathy with
London; 1t quickly became evident, how
ever, that no outside interest had been en-
listed here, and the professional bears at
tacked the list in weak spots, notably Man
haitian, Peoples Gas and Tobacco, and soon
wiped out the earlier gains.
number Of individual stocks showed con-
spIcuous strength all day, and rally in Peo-
PIES Gas drove the bears to cover and made
tnem more cautious. The strength became
efshlp or st. Paul, and the close was strong
at the best prices OF the day, and generally at
a level above Fridays close. The fear Of in
terrupted traffic through yellow fever quaran-
tine was factor in the early weakness, espe-
clally In Southern railroad preferred but at
the same time there was an advance Of G3s
IN Illlnols central and conspicuous hrmness
In Louisville, on the prospect of resumption
or Havana traffic. Baltimore & Ohio was
heavily bought by banking interests all day
ana mad an extreme gain of points Other
strong features were Denvar preferred, Atchi-
son preferred Reading first preferred Den
yer d Gulf, the Pacific Coast Improvement
stocks and the grangers, in sympathy with
st. Paul on the very advantageous showing
In the latter's annual report.
me dominant factor in the situation con-
tlnues to be the absorption of money by the
united states treasury, on account Of sub
scriptions to the new bonds. Call money
continued quite firm, with 3 per cent the
ruling rate and with apparent effect from
the treasury announcement that the currency
6s, due Jan. l next, would be redeemed at
once. 1t Is somewhat remarkable that with
money holding firm at a level markedly
higher than the ruling rate in London, and
with exchange falling under the pressure of
grain and cotton bills, there should yet be
an easing of money rates in London. The
phenomenon is the more remarkable as there
was continued buying of stocks in New York
for London account.
The condition of the money market had
Its reflection also in the extreme dullness OF
the trading in bonds but prices were in the
main firmly held. Total sales, 50, 440 000
United States old As, registered, and the 5s
advanced "a, and the new is and the IS, when
issued, Is per cent in the bid price.
Iotal sales OF stocks today, 1925, 700 shares
including l2.243 Atchison preferred, 27,S4O B.
4 o., CLEO c. B. O., 100 D. & R. G. pre-
ferred; 80S6 Illinois Central. Ii 200 L. & n.
1925 Manhattan, 4,S75 Reading preferred
II $50 Northern Pacific 1880 Northern Pa
eihc preferred. 5,720 Rock Island; $40 u
P, H6S5 st. Paul. 525 Southern preferred
II 050 U. P. preferred, 9,106 N. P, D. & t.
1910 Wabash preferred, $3.50 Minnesota Iron
S,345 International Paper, 500 Tobacco, 4535
c; G. W., SITS Peoples Gas. 100 General
The following were the fluctuations of the
leading railway and industrial shares fur
ntshed by G.. H. F. Smith & Co., members
New York stock exchange and Chicago board
or trade: